Compliance Officer

2 weeks ago

London, United Kingdom Non-Bank Financial Services Broker Dealer Full time

Job Summary:
We operate as a boutique non-bank financial institution broker dealer (non-retail customers) and seek an experienced individual to step into an SMF16 and SMF17 role to help build and support our business and activity. You may currently be reporting to the Head of Compliance or seek change from your current employer or contract. As a small firm of less than 15 persons the role involves working closely with all concerned - front office, operations, finance, legal and board members. It is an exciting time for the independently owned non-bank sector but one that require a strong and disciplined team to lead and foster innovation within our regulatory and legal framework.

Are you ready to play a critical role in safeguarding our firm against regulatory and financial crime risks whilst ensuring our practices not only meet but exceed regulatory standards? If so, we are keen to hear from you and set out below our description of the role.

**Job Description**:
1. Introduction

The Compliance Officer role, encompassing both SMF16 (Compliance Oversight Function) and SMF17 (Money Laundering Reporting Officer) responsibilities, is pivotal to our Firm's integrity and operational excellence.

As the backbone of our firm’s compliance and anti-money laundering (AML) efforts, the role holder is entrusted with the continuous monitoring and enhancement of our compliance framework, ensuring that our operations align with the latest regulatory developments and ethical standards. This role requires a dynamic individual who combines deep regulatory knowledge with practical experience in compliance and AML strategies, capable of navigating the complexities of the financial services industry with foresight and integrity.

2. Core Objectives

To uphold and enhance the firm's compliance framework, ensuring adherence to MiFIDPRU regulations, and to lead the efforts in preventing, detecting, and reporting money laundering and financial crime activities, aligning with the responsibilities of SMF16 and SMF17 roles.

3. Key Responsibilities (role specific):
Regulatory Compliance Oversight (SMF16):

- Continuously review and update compliance policies and procedures to reflect changes in regulatory requirements and best practices.
- Lead the compliance monitoring program, ensuring comprehensive coverage of regulatory and legislative obligations.
- Enhance the compliance risk management framework, incorporating risk assessment, mitigation, and reporting mechanisms.
- Foster a compliance culture throughout the organization through targeted training and awareness initiatives.
- Serve as the key advisor on compliance matters to senior management, providing strategic insights and recommendations.

Money Laundering Reporting (SMF17):

- Regularly assess and refine the AML and financial crime prevention strategies to address emerging threats and vulnerabilities.
- Strengthen the due diligence and ongoing monitoring processes to prevent, detect, and report suspicious activities effectively.
- Engage with external regulators and law enforcement agencies, representing the firm in matters related to financial crime.
- Lead internal investigations into compliance breaches or financial crimes, ensuring appropriate corrective actions are taken.

4. Daily Operations: (role specific)

Regulatory Compliance Oversight (SMF16)
- Regulatory Intelligence: Monitor regulatory developments, including updates from the Financial Conduct Authority (FCA), European Securities and Markets Authority (ESMA), and other relevant bodies to ensure early identification of compliance requirements.
- Policy and Procedure Management: Review and update compliance policies and procedures to incorporate regulatory changes and best practices. Ensure these updates are communicated effectively across the organization.
- Compliance Monitoring and Testing: Conduct daily compliance checks and periodic deep-dive audits to assess adherence to policies, procedures, and regulatory requirements. This includes trade surveillance, marketing material review, and client communication oversight.
- Incident Management: Manage the process for identifying, documenting, and resolving compliance breaches or incidents. This involves immediate corrective action and root cause analysis to prevent recurrence.
- Reporting: Prepare and submit regular compliance reports to senior management and regulatory authorities, highlighting the firm’s compliance posture, identified risks, and remediation actions.

Money Laundering Reporting Officer (SMF17)
- Transaction Monitoring: Oversee the transaction monitoring program to detect and investigate suspicious activities that may indicate money laundering or terrorist financing.
- Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD): Ensure rigorous customer due diligence (CDD) and enhanced due diligence (EDD) processes are applied for new and existing clients, focusing on higher-risk categories.
- Suspicious Activity Reporting: Manage the pro

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