Compliance manager: AML

Key Performance Area:

General

• Support to ensure the design, continuous development and formal approval of the Consulting Platform and AF Investments alignment with Group FCC frameworks and methodologies -> entailing various governance documentation, policies and procedure.
• Support to identify, assess and report to appropriate individuals and executive bodies within AlexForbes of any relevant risks associated with FCC and the activities to mitigate such risks.
• Work with the Head of FCC to ensure that the FCC-related functions are appropriately resourced within and that regular assessments of such function are conducted accordingly.
• Ensure that agreements are in place with third parties and with group companies within AlexForbes to ensure that relevant FCC requirements of the Consulting Platform and AF Investments are met.
• Ensuring (via liaising with the business) that third parties have adequate resources, procedures, processes, systems and controls in place.
• Ensuring that regular monitoring and evaluations are conducted by the business on the third parties in assessing that the third party is in compliance with its SLA for AML related compliance services and record management.
• Support the Consulting Platform and AF Investments executives and other senior executives with executing their AML/CTF and sanctions-related responsibilities, by challenging, overseeing and advising on implementation and ongoing servicing of FCC related matters. In essence, support to ensure senior executives and employees comply with the provisions of the Act and its RMCP.
• Assist in developing training material on FCC-related processes and business responsibilities (business specific).

Compliance Monitoring in relation to FCC:

• Identify regulatory risks and assess compliance management practices for all AIs.
• Ensure commonality with respect to compliance risk management principles and methodologies with the rest of the AF Group.
• Design and implement standards, policies and procedures for compliance risk management that are in line with global best practice.
• Work with the Head of FCC and the second line compliance team to identify all amendments to legislation, draft legislation and new legislative that impact or could impact the AML compliance universe.
• Support the Head of FCC to review and update the compliance monitoring plan to provide assurance on the FCC embedment within the AIs and implementation of new policies and procedures regarding the new/amended legislation.
• Review and update the monitoring plan to include new high risk exposure areas to enable compliance to provide assurance on the implementation of new policies and procedures regarding the new/amended legislation.
• Monitor the effectiveness of controls to mitigate or minimize risks and to detect breaches on a timely basis.

Statutory and Regulator interactions in relation to FCC:

• Support the Head of FCC to ensure the submission of all regulatory reports to the FIC, Prudential Authority and FSCA on behalf of the responsible AIs on all FCC related submissions are done on a timely basis as required in terms of the applicable legislation and/or approvals obtained.
• Respond to regulatory enquiry received, including request for information, fines imposed, and outstanding statutory returns and onsite visits.
• Assist business to respond to regulatory enquiry received, including request for information, fines imposed, and outstanding statutory returns and onsite visits.

Adhoc projects:

• To assist business units within the Consulting Platform to embed FCC related matters. This may include maintaining policies supporting the business processes relating to AML.
• Project managing embedment of processes within the business.

Internal reporting:

• Development of reports, setting of reporting standards to provide accurate pertinent compliance reports.
• Assisting the Head of FCC in developing and communicating compliance reporting tailored to risk committees, executive committees and for ad hoc activities (e.g. due diligence exercises).

Business support in relation to FCC:

• Assist management to develop compliance related controls as well as plans to mitigate regulatory risks across the AIs.
• Provide guidelines to business on queries relating to FCC, including dealing with and escalation of compliance breaches.
• Assist the business in resolving (remedial action) compliance breaches to legislative requirements. Track breaches and their resolution.
• Ensure consistent interpretation and implementation of legislative requirements.
• Advise management on regulatory risks to the business, ensuring management understands the risks as they may affect their mandates, ensuring individuals understand their own accountability for compliance and confirming that management has put in place sufficient controls and mitigation where needed.
• Ensure correct and effective escalation of potential threats and weaknesses in the compliance framework to the relevant stakeholders.
• Identify early warning signals of breach/incidents etc and correct and effective escalation thereof.
• Support, guide and educate the business on AML compliance related matters.