The role monitors firms to ensure they comply with the Law and regulations, as well as the related legislation and policy by reviewing information provided by firms during the registration process and make enquiries into them and individuals. Following incorporation of the firm, the job holder monitors compliance of firms against the Company’s regulations and take appropriate action in case there are non-compliant cases.
• Manages that monitoring post licensing matter are accurately captured into the CRM system; followed up in accordance with the Dept’s procedures and resolved in accordance with the timeframe as per the licensing letter,
• Maintains and improves the monitoring framework and procedures documentation including monthly management update reports and any ad hoc reporting.
• Manage and lead on-site reviews of non-compliant Firms to ensure that Company Law, Rules and Regulations are adhered to and that the Firm is conducting business within its Scope of Licence.
• Identify risk areas, lead and completed thematic and targeted reviews to be conducted on Firms with the assistance of an Officer.
• Liaises with firms, where appropriate, with possible non-compliant firms to ensure awareness of the regulations, rules, laws and other Company related matters that are important for the running of firm under Company.
• Manages the framework for oversight of firms on an on-going basis where necessary recommend chronic non-compliant Firms to the Enforcement Unit via the Dept., Director.
• Bachelor’s degree in Law, Business Administration or Finance.
• Diploma in Anti Money Laundering or related field (e.g. Certified Anti Money Laundering Specialist (CAMS) and/or Certified Fraud Examiner are preferred.
• Minimum 10 years of relevant experience in in legal, compliance or regulatory role and at least 4 years in positions with managerial responsibilities.
• Ability to understand legal and commercial implications of issuance of licenses
• Ability to analyse business models
• Ability to analyse financial plans and statements
• Experience in financial services data (including P&L, etc.) analysis
• Ability to apply understanding of Anti Money Laundering principles
• Management and supervisory skills
• Decision making skills and ability to command respect
• Excellent communication and mediation skills
• Strong analytical and problem- solving skills
• Strong computer and excel skills
• General understanding of market-place AML issues and AML suspicious activity transaction monitoring systems, data mining/analytical tools, and KYC automated solutions is helpful
• Strong written and verbal communication skills, including report writing
• Customer focus mentality, proactive and ability to follow up and close queries
• Maintains high standards of honesty and trustworthiness
• Maintains high quality standards in the output they produce and encourages others to meet similar standards
• Makes a positive first impression, displaying immediate presence and credibility
• Exercises good judgment in making decisions
• Coaches and develops others
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