Risk Officer

Our client seeks a Risk Officer to join their team.

Role Profile: Working with the Head of Compliance and Risk (“HoCR”) and business leads, to identify and monitor business, compliance and AML/CFT Risks, recommend risk mitigants and act as the focal point for risk management within the business.

Key Responsibilities:

• To act as pen holder for the risk assessments (AML business risk, technology risk and Rulebook business risk), liaising with responsible persons to ensure they remain up to date, have appropriate coverage, contain appropriate mitigants and that allocated actions are undertaken.
• Organiser of the Control Committee meetings, including invites, agendas, taking minutes and monitoring progress.
• Assisting the HoCR in bringing risk matters to the attention of the Committee and recommending actions as relevant.
• To act as a key advisor to the business on risk identification, monitoring and mitigation.
• Working with the compliance and operational teams, review and input to procedures to ensure that risks are mitigated as part of the agreed processes.
• To categorise and accurately record risks across the company.
• Undertake Periodic CDD reviews (including Client Due Diligence, Source of Fund, Source of Wealth where applicable, risk assessments and transaction monitoring) within agreed timeframe, to ensure they are complete, accurate, documented on files and in line with the IOM AML/CFT Code and the AML/CFT Manual and procedures.
• Conduct PEP, sanctions and adverse media screening.
• Ensure any complex client structures (e.g. legal entities and arrangements) are fully understood, verified and documented.
• Liaise with staff when required with gathering CDD and information for the completion of periodic CDD reviews.
• Preparation and review of documentation for high risk clients as and when required.
• To identify training needs relating to risk issues and, working with the HoCR, ensure appropriate training is delivered.
• To undertake project work, research and other duties as directed by the HoCR.
• Conduct risk assessments as required by the business.
• To actively promote a positive image of the Company.
• Stay abreast of changes to the risk landscape and latest regulatory developments relating to Anti-Money Laundering and other forms of financial crime.
• Support the HoCR and Compliance Officers with any tasks required of the Compliance and Risk Team.

Key Skills and Experience:

• Relevant experience in compliance and risk relating to investments, fund management and Anti-Money Laundering is preferable.
• A relevant professional qualification in risk, degree or diploma is desirable but if not held, willingness to undertake such qualification is essential.
• Understanding of the risks associated with investment management and collective investment scheme administration.
• Working knowledge of relevant computer applications and ideally an interest in technological developments in the financial services market.
• Excellent communication skills and a willingness to learn.
• Understanding of the AML/CFT, regulatory and compliance requirements in the Isle of Man.
• Understanding of risk management processes, the IOM National Risk Assessment and processes to develop and maintain an enterprise risk framework.

Quote job ref: 15532