Job Description
About the Role:
This position mandates the individual to hold FCA approval for carrying out SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer) functions. It's a part-time position that requires working 2 days/week.
SMF16 - Compliance Oversight function:
About the Role:
This position mandates the individual to hold FCA approval for carrying out SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer) functions. It's a part-time position that requires working 2 days/week.
SMF16 - Compliance Oversight function:
- Assume responsibility for overseeing and managing the firm's Compliance and Governance frameworks, encompassing all aspects of a fully operational compliance function. This includes oversight of fund promotion and distribution, regulatory facets, and monitoring.
- Develop regular monitoring practices and procedures to evaluate the adequacy and efficacy of the firm's control systems.
- Collaborate with operational departments to formulate risk-based policies and procedures, tailored to minimize the risk of regulatory breaches.
- Engage in regulatory monitoring and management, addressing emerging risks, potential non-compliance areas, and advising on suitable mitigative actions.
- Implement any necessary FCA rules and regulations pertinent to the UK business.
- Dispense regulatory counsel and guidance across the organization, coupled with training sessions for staff on compliance matters.
- Effectively handle both real and potential conflicts of interest.
- Stay abreast of relevant regulatory changes, ensuring adherence to SM16/17 obligations.
- Evaluate and approve client onboarding processes.
- Report any potentially suspicious activities or transactions.
- Oversee the application of up-to-date AML/CTF (Anti-Money Laundering/Counter-Terrorism Financing) policies and procedures.
- Respond to requests for information from the FCA, other regulators, law enforcement agencies, or clients, regarding regulatory or law enforcement inquiries.
- Conduct an annual money laundering risk assessment in relation to the company's business.
- Ensure regular training for staff on anti-money laundering practices.
- Provide at least an annual report to the firm's governing body on the firm's anti-money laundering systems and controls.
- Demonstrated exposure to Compliance and Risk functions within Financial Institutions.
- Proficiency as a capable leader, possessing robust technical knowledge, analytical acumen, and strategic thinking.
- Familiarity with Alternative Investment Asset Classes and Fund operations.
- Experience overseeing distribution compliance and governance, including assessing and ensuring the suitability of investors at various levels.
- Confidence in collaborating with and interacting among senior management members across the organization.
- Advanced stakeholder management prowess, encompassing dealings with regulators and external entities.
- Profound familiarity with FCA regulations, particularly SM16/17 requirements.
- Exceptional organizational skills, effective communication, and a meticulous eye for detail.