Head of Compliance and Risk Management

4 weeks ago


Greater Manchester, United Kingdom Douglas Scott Legal Recruitment Full time

Job Title: Head of Compliance and Risk Management

Job Summary: We are seeking a highly skilled and experienced Head of Compliance and Risk Management to join our team at Douglas Scott Legal Recruitment. As a key member of our compliance team, you will be responsible for ensuring the firm's adherence to regulatory and compliance best practices.

Key Responsibilities:

  1. Anti-Money Laundering (AML) & Client Due Diligence (CDD):
    - Conduct thorough research and verification of new clients using compliance software.
    - Maintain accurate and up-to-date records of AML database and CDD information.
    - Provide expert guidance and support on AML processes and best practices.
    - Conduct regular AML risk analysis on a range of clients.
    - Assist in ongoing monitoring and updating client due diligence records.
    - Offer guidance on non-standard situations.
  2. Conflicts:
    - Review conflict checks and maintain clear records and adherence to legal and regulatory requirements.
  3. SRA:
    - Lead and coordinate SRA audits and build relationships with relevant contacts at the regulator.
    - Stay updated with new or changing guidance.
  4. Risk Management:
    - Develop and update compliance policies and procedures to ensure effective risk management.
    - Maintain a firm-wide risk register and conduct regular compliance risk assessments and file audits.
    - Identify potential compliance risks and recommend mitigation strategies.
    - Develop and implement action plans to address identified risks.
    - Manage the firm-wide complaints process and documentation.
    - Liaise with insurance brokers on PI notifications as appropriate.
  5. Training & Development:
    - Provide ongoing support and guidance to staff and develop mandatory training programs.
  6. Monitoring and Reporting:
    - Conduct regular internal audits and investigations and prepare compliance reports for senior management and the board.
    - Track and report on compliance metrics and key performance indicators.
  7. Documentation and Record-Keeping:
    - Maintain comprehensive records of compliance activities and findings.
    - Ensure proper documentation for compliance audits and regulatory reviews.
    - Manage and update compliance-related documentation and resources.
  8. Collaboration:
    - Act as the primary point of contact for compliance-related inquiries and collaborate with legal, finance, and other departments to ensure firm-wide compliance.

Requirements:

  • Minimum of 4 years' experience in AML within a UK law firm.
  • Advanced understanding of KYC and AML regulatory obligations.
  • Proficiency in AML compliance software.
  • Strong communication skills and confidence with MS Office.
  • Proficiency in Practice Management software.
  • Experience dealing with the SRA.


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