Head of Compliance and Risk Management
4 weeks ago
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:
- 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. - Conflicts:
- Review conflict checks and maintain clear records and adherence to legal and regulatory requirements. - SRA:
- Lead and coordinate SRA audits and build relationships with relevant contacts at the regulator.
- Stay updated with new or changing guidance. - 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. - Training & Development:
- Provide ongoing support and guidance to staff and develop mandatory training programs. - 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. - 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. - 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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