Responsibilities
- Serve as designated Compliance Officer, MLRO, or DMLRO for client firms, maintaining full compliance with FSC rules, FIAMLA, FIAML Regulations, and AML/CFT requirements.
- Lead the development, implementation, and continuous improvement of the organization’s compliance infrastructure, including policies, procedures, and internal controls.
- Perform regular compliance assessments of client documentation and manage statutory submissions to the Registrar of Companies, FSC, and MRA.
- Supervise client intake processes, including KYC verification, customer due diligence, enhanced due diligence, and risk categorization.
- Collaborate with external auditors on AML/CFT audits and ensure audits are completed within required timelines.
- Produce and file regulatory reports, compliance updates, and executive-level compliance materials for board review.
- Manage FATCA and CRS client classification, documentation, and reporting obligations.
- Support transaction surveillance activities, identify anomalies, and escalate potential suspicious matters.
- Keep compliance records current, including registers, risk logs, and internal compliance documentation.
- Develop and review Business Risk Assessments and Client Risk Assessments in alignment with FSC expectations.
- Ensure client operations remain within the boundaries of their licensed activities and comply with applicable laws and licensing terms.
- Monitor client information and engagement history through the CRM system, ensuring compliance data is accurate and complete.
- Act as a point of contact with regulatory bodies and coordinate responses to audits, inspections, and official inquiries.
- Conduct training programs for staff and leadership on compliance protocols, AML/CFT standards, and regulatory updates.
- Track evolving local and international regulatory requirements, including FATCA, CRS, and EU directives, and provide strategic guidance.
- Support legal research initiatives, draft official communications, and contribute to compliance-related content development.
- Undertake additional compliance-related responsibilities as assigned by the supervising Compliance Officer.
Other
Compliance Officer designation already approved by the Financial Services Commission (FSC)
