Single Job

Our client is a Limassol based CySEC Regulated Wealth Management Firm and they are currently looking to recruit a Head of Compliance and AML, the ideal candidate will have a strong background in compliance leadership within the finance industry and who can provide strategic oversight and ensure the company’s continued adherence to regulatory standards.
 

Key Responsibilities:

Regulatory Compliance

• Monitoring and Interpreting Regulatory Changes: Stay up to date with CySEC regulations, European Union regulations (e.g., MiFID II, GDPR, AMLD), and international regulatory standards, ensuring the business complies.
• Reporting to CySEC: Prepare and submit regular reports to CySEC, such as Quarterly Statistics, Capital Adequacy reports and Audited Financial Statements, Annual Compliance reports and any other required documentation.
• Coordination with Legal Counsel: Collaborate with legal teams to interpret and apply legal requirements to company practices.

Management of Compliance Risks:

• Compliance Risks Assessment and Mitigation: Conduct regular assessments to identify compliance risks (e.g., money laundering, fraud, market abuse) and develop strategies to mitigate them.
• Developing and Implementing Policies: Develop, implement, and update internal compliance policies and procedures based on risk assessment and regulatory requirements.
• Reporting to the Board: Provide updates on Compliance Risk assessments, compliance status, and issues to senior management.

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF):

• AML/CTF Framework Implementation: Ensure that the business follows all required AML/CTF guidelines, including customer due diligence (CDD), enhanced due diligence (EDD), and transaction monitoring.
• AML Reporting: Report suspicious activity to the relevant authorities, including the Financial Intelligence Unit (FIU) and MOKAS, as well as monthly and annual AML reports to CySEC.

Internal Auditing & Monitoring

• Monitoring Daily Operations: Oversee daily business activities and operations to ensure compliance with internal controls and regulatory requirements.
• Transaction Monitoring: Monitor trading activity and transactions to identify any potentially illegal or irregular activities.

Client Onboarding and KYC/Customer Due Diligence (CDD)

• Customer Onboarding: Ensure that appropriate KYC (Know Your Customer) procedures are followed during the onboarding process.
• Ongoing Monitoring: Continuously monitor clients’ activities to identify any changes in client risk categorisation and perform enhanced due diligence (EDD) where necessary.

Training and Awareness

• Compliance Training Programs: Develop and implement compliance training programs for all staff to ensure they are aware of their responsibilities and current regulations.
• Employee Awareness: Promote awareness of compliance policies across the organization to ensure a culture of compliance.

Compliance Reporting and Documentation

• Report Generation: Prepare internal and external compliance reports, ensuring they are accurate and in accordance with CySEC requirements.
• Documentation Maintenance: Ensure that all compliance-related documents (e.g., policies, procedures, audit reports) are maintained and updated regularly.
• Regulatory Filings: Ensure timely submission of required documents, including annual reports and regulatory filings, to CySEC and other relevant authorities.

Communication with Regulators

• Regulatory Liaison: Act as the point of contact between the company and CySEC, responding to queries and requests from regulators.
• Handling Regulatory Complaints: Address and resolve any regulatory complaints or investigations, providing all necessary documentation and explanations.

Governance and Corporate Structure

• Corporate Governance: Ensure that the organization follows proper corporate governance standards, especially in relation to financial markets, board decisions, and shareholder reporting.
• Board Reports: Provide annual compliance (responsibility of the Risk Manager, outsourced) reports to the board of directors and senior management.

Compliance Auditing and Third-Party Assessments

• Third-Party Compliance Assessments: Oversee and review third-party service providers’ compliance with relevant regulations and internal policies.
• External Audits and Reviews: Coordinate with external auditors during annual audits and assist in addressing any compliance findings.

Licensing and Authorization Management

• CySEC Licensing: Ensure that all licensing and authorizations required by CySEC and other authorities are maintained.
• License Compliance: Ensure the business continues to meet the conditions of its licenses, including maintaining necessary capital requirements, systems, and reporting obligations.

Crisis Management

• Incident Management: Develop and manage an incident response plan for compliance-related incidents, ensuring timely resolution of issues such as regulatory breaches.

Cross-functional Collaboration

• Collaborate with Other Departments: Work closely with departments such as legal, finance, operations, and IT to ensure compliance is integrated across the business.

Salary: 

• Budget: 50,000 to 55,000 Euros gross annually