Job Details
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 Email Job |
| Job Title: |
Compliance Vice President |
| Location: |
Dublin |
| Position Type: |
Full Time |
| Ref: |
LC224 |
| Remuneration: |
90-100K |
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| Description: |
Compliance Vice President
The Deputy Compliance Officer is a Vice President, reports directly to the Compliance Officer and is a member of the Limited Compliance Department.
The activities of compliance involve the provision of advisory, monitoring, training services as well as overseeing the regulatory reporting for the regulated entity which is prepared by the Regulatory Reporting team within Finance in London.
The Deputy Compliance Officer will deputise for the Compliance Officer in all areas including acting as Deputy MLRO, Deputy Data Protection Officer, as well as attending internal governance committees, as required.
The Deputy Compliance Officer will hold the Controlled Function CF-2.
The Deputy Compliance Officer is involved in all aspects of compliance work and project related issues for the regulated entity, as required. The post holder is supported by the Compliance Officer locally, as well as the Limited Compliance department Advisory, Monitoring, Financial Crime Team and Regulatory Change.
Responsibilities:
•The post holder will also have the opportunity to engage in cross European projects with these teams and work in collaboration with the other locations on projects. The role also involves liaison with Legal and Compliance Counterparts across the connected companies in London and New York
•The Deputy Compliance Officer must be able to quickly build relationships on a non-face to face basis in order to maintain and develop the needs of within a multi-jurisdictional group structure.
•The Deputy Compliance Officer will also be responsible for the day to day management of the Compliance Monitoring Team. This will include reviewing draft scoping documents, draft review reports, updating the Monitoring system, Annual Monitoring plan and producing relevant MI.
Advisory
•Maintaining detailed working knowledge of the Central Bank of Ireland rules and regulations(in particular CAR) and other relevant market practices and rules
•Assisting in the managing of the regulatory relationship including proactive liaison with and answering queries from the Central bank of Ireland, Irish Stock exchange and any other industry body as required (including Gardai and Revenue Commissioners as appropriate);
•Monitoring regulatory changes and preparing impact analyses of an yrelevant Irish or EU regulations. This will involve providing guidance on the implications of regulations and assisting in the implementation of internal change subsequently required ;
•Maintaining involvement in the local regulatory arena to promote the interests of the regulated entity’s business model;
•Providing advice on regulatory and compliance issues arising, and applying the rules to business and operational current and developing models;
•Responding to queries from business units, service providers and clients, and provide compliance advice as appropriate in the circumstances
•Participating in projects including identifying, handling and resolving compliance issues relating to business development;
•Co-ordination of all regulatory examinations, including semi-annual audits of the firm’s compliance with the Central Bank of Ireland Client Asset Requirements by the firm’s external auditors;
•Recording and responding to complaints;
•Handling applications for firm and individual regulatory registrations, as required;
•Interacting with both the Internal Audit Department and external auditors, in conjunction with the Compliance Officer & Ireland Country Manager as required to present correctly the activities of the regulated entity both internally and to any external reviewer;
•Maintaining the Compliance Manual and local compliance procedures;
•Approving PA dealing requests for all persons covered by the PA Dealing Rules.;
Monitoring
•Monitoring and testing the adherence of the regulated entity to the relevant Irish and European regulations as well as internal policies. This involves both oversight of the functions which are outsourced from the regulated entity to London and Liverpool as well as monitoring of the local entity
•Identifying any enhancements or further developments required to the rolling compliance monitoring programme to confirm compliance with Irish and European regulations and other rules where appropriate, which contribute to the firm’s annual compliance review
•Co-ordinating the monitoring programme with the Compliance Monitoring Team and reviewing draft reports to ensure requirements are appropriately tested
•Discussing any remedial action arising from monitoring reviews with business unit management, and ensuring that improvements are implemented as required
•Undertaking ad-hoc reviews and investigations, as are identified as necessary to confirm the local regulated entity processes operate in accordance with regulatory requirement
•Maintaining the Breaches Log and monitoring any Operational Risk events arising for the location which may have a compliance implication; and Ensuing can demonstrate effective oversight of any and all activities in-sourced to the Group.
Training
•Ensure staff and any other relevant persons (e.g. Directors) receive adequate training as required under the Irish regulation
•Developing and updating of compliance training programmes, in conjunction with other members of the Compliance Department, and delivery of such courses as required with appropriate record-keeping
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| Experience: |
Regulatory Reporting Oversight
•Overseeing and reviewing of all regulatory reporting prepared including the daily, monthly and quarterly returns to the Central Bank of Ireland
•Responding to queries from the Central Bank of Ireland relating to issues arising in the financial returns;
•Working with the Finance Department (or other departments) to implement any new regulatory reporting developments, systems and process improvement initiatives
•Overseeing and reviewing the client money calculation and reporting defined exceptions to the Central Bank of Ireland as required; and
Anti-Money Laundering
•The Compliance Officer is the senior manager appointed as MLRO with overall responsibility within the regulated entity for the establishment and maintenance of effective AML systems and controls. The Deputy MLRO is expected to be able to cover this role when required. This may include; Developing necessary policies, procedures, training and education;
•Developing and maintaining policies in line with (i) statutory and regulatory obligations (ii) European policies and (iii) advice from law enforcement agencies;
•Receiving internal reports, undertaking the internal review of all suspicions and determining if such suspicions have substance and require disclosure to the Garda, the Revenue Commissioners or internally as required;
•In conjunction with the Financial Crime Team and KYC Team, approving all new clients through due diligence procedures including the review of KYC documentation and AML procedures;
•In conjunction with the Financial Crime Team, performing ongoing review of existing clients through regular reviews of KYC documentation, annual AML certificates, analysis of incident reports & regulatory enquiries and client visits based on risk rankings;
•Obtaining and using national and international findings on money laundering and terrorist financing;
•Maintaining contact with clients with respect to AML and fraud issues;
•Representing the regulated entity in meetings with external agencies (Central Bank of Ireland, national authorities and law enforcement agencies) and in any other third party enquiries relating to financial crime.
Other Duties
•Acting as Deputy Data Protection Officer for the regulated entity and ensuring the necessary regulatory permissions are maintained and that Data Access Requests and Freedom of Information Requests are processed
•Maintaining a working knowledge of Irish and European data protection legislation and ensuring the Group remains aware of any necessary information
Technical Knowledge& Expected Skills
•In-depth working knowledge of the legislation and regulations for the Irish and EU financial services regulatory environment, in particular MiFID and Client Asset Requirements
•Intermediate knowledge of the UK financial services regulatory environment
•Previous experience of Central Bank of Ireland interaction, including inspections and liaison with a Supervisory team
•Excellent management skills with experience of managing teams from a separate location
•Proven ability to work in and build valuable relationships in, a multi-jurisdiction group structure and experience of representing a legal entity in an international group structure
•A general awareness of company legislation and other related legislation and Irish regulatory requirements
•Ability to work in a demanding environment where flexibility and initiative is expected;
•Proven self-starter
•Ability to work within a team while also demonstrating leadership and professionalism, by example, at all times.
•Excellent report-writing and communication skills
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| Required Education: |
3rd level |
Job Classification |
| Categories: |
Funds
Accountancy -> Financial Services
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Contact Details |
| Posting Company: |
Quest Recruitment |
| Contact Name: |
Larry mcCowen |
| Apply For This Job: |
Click Here |
| Company Profile: |
Voted Best in Practice Accountancy & Finance for a second consecutive year (2012 & 2013), Quest is a team of experienced and professional Financial Recruiters solely dedicated to recruiting for Accountancy and Financial Services Professionals.
Through its reputation, in-depth sector knowledge and impeccable standards of conduct and confidentiality, Quest has developed professional relationships with World Leaders in Financial Services and Accountancy throughout Ireland, Luxembourg, Bermuda and the Cayman Islands. Quest’s experienced Team offers a personalized service and listens closely to what you want - your career goals and motivations
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