Head of Compliance – EXCLUSIVE

THE COMPANY:

Our client is a leading brokerage firm providing global clearing solutions to the derivatives markets.

THE RESPONSIBILITIES:

• Ensure the Company operates in accordance with all relevant regulatory obligations.
• Ensure, through regular monitoring that the Company complies with rules of the exchanges and clearing houses of which it is a member.
• Establish appropriate policies, frameworks, procedures and processes to ensure compliance by the Company and its staff with relevant regulatory and exchange obligations and to work with all business areas in a proactive manner to achieve this;
• Manage responses to audits and investigations from exchanges and the FCA;
• Oversee and ensure that effective regular monitoring reviews are carried out under the Compliance Monitoring Plan (and on an ad hoc basis where necessary);
• Work with the COO to ensure accurate and timely regulatory reports are submitted (EMIR, MiFID, REMIT etc.);
• Prepare regular reports that accurately reflect the status of compliance of the Company and to advise management on relevant issues;
• Ensure appropriate regulatory training plans are in place for staff and the delivery thereof;
• Ensure support is given to internal projects which are required to meet regulatory and exchange requirements on a timely basis;
• Attend and participate in Management Committee meetings and bring to bear commercial, business and professional experience in the decision making process;
• Oversee the effectiveness of the client onboarding process including KYC and due diligence checks;
• Ensure appropriate records and reports are maintained regarding the activities of the Compliance Department in accordance with all relevant regulatory requirements;
• Review, analyse, report on and make recommendations about new issues that may affect the business of the Company in regulatory areas  and take appropriate action to ensure full compliance by the Company ; and
• Attend the Risk Committee of the Board and provide it with regular reporting.

The MLRO undertakes FCA Senior Manager Function (SMF17).  The MLRO’s responsibilities include the following:

• Monitoring the effectiveness of the Company’s anti-money laundering systems and controls against the requirements of the Money Laundering Regulations, FCA rules, regulation and guidance, POCA 2002 and the Terrorism Act 2000;
• Ensuring that the anti-money laundering client account opening processes are compliant with the Company’s policy and the Money Laundering Regulations, other applicable law and the JMLSG Guidance;
• Conducting and maintaining a Business-Wide Risk Assessment for financial crime;
• Receiving and reviewing internal disclosures and submitting external reports to the NCA;
• Responding promptly to any reasonable request for information made by the FCA or law enforcement authorities;
• Liaising with the FCA, NCA and other external agencies;
• Ensuring that anti-money laundering training is provided, its standards and scope are appropriate and that records are kept;
• Reporting to the Board on at least an annual basis (via the MLRO Report) and keeping the Senior Management updated on money laundering issues;
• Obtaining and using national and international findings, for example the findings of the FATF, IMF and World Bank to drive a robust culture;
• Appointing a Deputy MLRO to cover the MLRO’s periods of absence;
• Ensuring that client and transaction monitoring is being undertaken;
• Assessing the risks of the Company’s client base and business activities in relation to money laundering on an on-going basis;
• Ensuring the Company’s policies and procedures are communicated effectively to all relevant employees;
• On an on-going basis, the MLRO reviewing the Company’s business activities

EXPERIENCE REQUIRED:

• Derivatives background/knowledge
• SMF16 experience ideally from brokerage / derivative markets firm
• Maintain knowledge and awareness of the wide-scale regulatory issues that affect the Company and the industry;
• Maintain effective oral and written communication including detailed reports and other material of a technical and/or complex nature where appropriate;
• Develop knowledge regarding the position of the Company in the industry and in the overall political, economic and regulatory environment; and
• Maintain comprehensive regulatory knowledge of products and services in own areas of responsibility.

For further information please contact Hannah Tabatabai