Compliance Officer

Job Description

Our client is now looking for a Compliance Officer to join their team at the Head Officed in Birmingham!The company a subsidiary, and is incorporated in England and Wales, and provides money transfer service to non-resident Bangladeshis from the UK. The company has expansion plan over the next few years.The money transfer sector is one of the highly regulated and competitive sectors. It is absolutely vital for us to provide a service that is 100% compliant. That is why they are now looking for enthusiastic and motivated individuals to join their ComplianceTeam.Salary: circa £22,000 - £25,000 DOECompliance Officer Duties:

• Agency Oversight
  • Review agent onboarding documents and take necessary steps to complete the onboarding complying with the companys PCPs
  • Conduct agent risk assessments as per the company PCPs
  • Manage the Agent Visit Program to ensure all visits are conducted by the relationship management team in accordance with the PCPs
  • Follow-up the relationship management team for any KYC/KYB documents to keep the agents files updated at all times
  • Performing documentation and annual KYC refresh by requesting information and documentation from the relationship managers and when necessary, the agents themselves
  • Escalate any issues to the Senior Compliance Officer or to the HOFCC
• Corresponding Bank KYC
  • Perform the annual KYC refresh on our Correspondent Banks
  • Respond to and request confirmation of Correspondent banks adherence to Money Laundering regulations as per the Wolfsburg principles.
  • Reporting suspicious and unusual transactions or activity to MLRO via iSAR (internal suspicious activity reports)
  • Other assignments as directed by the Financial Crime Manager or the MLRO
• Transaction Screening
  • Actively manage the in house Transaction Screening processes by actively engaging with the offshore compliance team in Dhaka
  • Actively participating in work load prioritisation and providing assistance and advice in respect of case management
  • Providing accurate summaries detailing suggested actions to HOFCC
  • Manage the tracking and escalation of cases identified
  • Liaise with IT regarding the effective functioning and further in house development requirements of the system
  • Assembling weekly and Monthly data for the Financial Crime Manager in respect of case load progress and action points.

Compliance Officer Requirements:

• Experience working in a Compliance role within a UK financial institution
• Sound knowledge and understanding of MLR 2017, PSR 2017, FATF guidance, HMRCs guidance for MSBs, JMLSG guidance, POCA 2002, FSMA 2000, EMR 2011, FCA handbook, FCAs approach document for PI and EMI
• Attention to detail
• Analytical skills to understand and document processes.
• Ability to communicate clearly with wide audience.
• Team worker with ability to develop, maintain and strengthen business relations.
• Strong knowledge of accounting and finance principles is a plus.
• Strong command on MS Word, Excel, PowerPoint and internet browser
• Ability to operate within a multi-cultural environment
• Ability to work in a fast paced and often pressurised environment with strict deadlines
• Proactive approach to problem solving
• AML certification (Desirable)

If you think that you are suitable for this Compliance Officer role, please apply now!