JOB SPECIFICATION

JOB TITLE:         Business Support Manager

REPORTS TO:         Directors

HOURS PER WEEK:      35

Key responsibilities

• Handle day to day queries from the business regarding due diligence requirements and obligation
• Ensure timely, open and effective communication between Business Support with the fiduciary and investment business
• Support business development by coordinating the take on of new business and investors
• Provide formal reports to the Board at quarterly Board meetings and provide relevant reports and updates to the management committee
• Work with the compliance team to implement relevant changes required from new or amended laws, regulations, rules and guidance
• Maintain a risk-based RRA/CFC process compliant with regulatory and AML/CFT obligations and internal policies, procedures and controls
• Ensure knowledge of compliance is always up-to-date with recent developments and changes to legislation
• Identify and input into the continuous improvement of policies, procedures, controls and back-office processes and systems to increase efficiency and quality
• Review completed relationship risk assessments prior to sign off for high risk rated clients
• Oversight of the management of client due diligence data on the various systems and liaise with the Systems & Operations Manager to improve the quality of data input to the systems and the data reports extracted from the systems in relation to compliance areas; horizon-scan for new technology that can assist the business in compliance areas
• Understanding of Data Protection and promotion of adherence within Business Support Team
• Work on and manage projects where required
• Prepare management information for the board on a monthly basis – to include outstanding AML/CFT tasks, overdue reviews and any other relevant management information

Management responsibilities

• Manage the Business Support Team which broaches areas of client on-boarding, AML/CFT control implementation through Relationship Risk Assessments (RRA), Countering Financial Crime (CFC) reviews and processing CDD
• Identify training requirements relating to your business area from across the business and work with the wider Business Support Team and Compliance, where required, to arrange and carry out training
• Conduct monthly one-to-ones and annual appraisals of team members
• Provide leadership, mentoring, training and development to the Business Support Team including performance management and assisting in the identification and addressing of training and development needs
• Ensure new members of the team are fully trained and inducted
• Participate in the recruitment, selection and appointment of Business support team members
• Comply with the requirements of the Employee Handbook and HFL policy documents
• Promote the equality of opportunity within our organisation
• Demonstrate commitment to safeguarding and promoting the welfare of staff

Skills and experience required

• 5 years relevant experience in trust, private equity/venture capital/funds
• ICA Certificate/Diploma in AML or Compliance (or equivalent qualification)
• Extensive knowledge of compliance and the regulatory and AML/CFT environments
• Highly organised and able to effectively manage conflicting and competing priorities
• Ability to work with own autonomy, including working from home
• Experience of leadership and management of support services
• Excellent IT skills and ability to adapt to new systems quickly
• Strong commercial awareness
• Solid people management experience, with the ability to coach junior members of staff

Personal attributes

• Excellent communication and interpersonal skills
• Positive attitude and strong work ethic
• Self-motivated, organised and able to work to deadlines
• Good problem-solving skills and a pragmatic approach to solving problems
• High levels of accuracy
• Flexible with the ability to work around changing business needs

Job Description

Compliance Consultant - EMEA Compliance Testing - Hybrid - (104524)

Description

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Role/ Department:

EMEA Compliance Testing (ECT) is a functional team within Northern Trust’s Global Compliance Assurance Framework. The team reports locally to the EMEA Compliance Testing Regional Manager.

ECT testing consists of risk-based, point-in-time assessment or validation to determine regulatory compliance, and ranges from focused reviews of specific regulatory requirements for a segment of a business to enterprise-wide reviews. This role involves working with the EMEA Compliance Testing Regional Manager and EMEA Compliance Testing partners to complete and report on specific Guernsey related ECT reviews.

The successful candidate will be responsible for execution of the testing program. The candidate will be responsible for independently planning and executing of specific reviews, identifying issues and underlying root-cause analysis, agreeing solutions and communicating findings effectively, both orally and in writing.

The key responsibilities of the role include:

• Independently establish the appropriate scope and test steps for individual reviews
• Conduct and document testing reviews to assess compliance with and adherence to regulations/legislation and internal policies
• Engage with Compliance SMEs to understand any matters for concern related to applicable reviews
• Follow established EMEA and Global policies, procedures and standards for testing activities
• Apply analytical skills to review information and determine potential weaknesses or exceptions to policies / processes
• Validate and summarizes testing results in clear, concise language
• Detect and advise Compliance and Business Unit management of potential compliance issues and identify changes and/or enhancements to improve efficiencies in procedures
• Tracking of identified issues to closure via periodic follow up with action owners
• Validation testing to ensure actions have been adequately closed
• Develop relationships with Internal Audit to coordinate testing efforts and share results.
• Conduct meetings with business unit partners and management to discuss testing results and where applicable challenge management responses
• Support the Regional Manager with ad hoc tasks
• Work effectively as an individual contributor as well as in a team environment
• Develop strong relationships with the first, second and third lines of defense

Qualifications

Skills/ Qualifications:

The successful candidate will benefit from having:

• Proven experience related to compliance, compliance testing/monitoring or auditing
• Knowledge of Guernsey and/or EU regulations and key regulatory developments would be an advantage
• Analytical ability to identify and understand problems as well as to provide effective solutions
• Excellent written and oral communication skills
• Attention to detail
• Stakeholder management and ability to challenge senior management and the business
• Ability to deal effectively with multiple competing deadlines

Senior Processor – Ocorian – Guernsey - FTC

Following a merger with Estera in early 2020, Ocorian are one of the largest providers of fund, corporate and private client services in the market, recognised by our clients and the industry for exceptional client service and value and known for strong and sustained growth.

As a combined business we manage over 17,000 structures for 8000+ clients with a global footprint operating from 18 locations, scale which offers all our people great opportunities to develop their knowledge and skills and to progress their careers.

Purpose of the job

To facilitate the completion of KYC and Client Due Diligence in accordance with the codes of practice and AML regulations for relevant jurisdictions. Understand the requirements of the fund, review those requirements versus received information and ensure the investor is compliant. Oversee Processors, ensuring all the work produced meets the set criteria and standards of the regulatory requirements as well as ensuring customer queries are answered in a timely and satisfactory manner.

Main responsibilities

• Checking the work of Processors to ensure it is correct, including workflows and ViewPoint input
• Completing workflows for complex structures
• Updating ViewPoint information for complex structures
• To ensure client due diligence by checking received files against regulatory requirements
• To accurately input data into the systems, cross referencing different sources of data
• To manage and secure data integrity
• To work to, guide and enhance workflows required to complete CDD requirements
• To pay close attention to jurisdictional regulations to ensure requirements are met
• To identify missing data points and issues subject to the outcome of the workflows
• To liaise with internal employees at all levels to deal with queries and responses with a view to gaining further clarity on issues
• To achieve activity targets as set out on a weekly basis
• To adhere to internal policies such as Naming Conventions
• To undertake any ad hoc duties as may be required
• Ensuring that all processes are carried out in line with Ocorian’s documented procedures, with reference to the relevant regulation and to advise the Senior Manager, Directors and Compliance Officer of any potential issues.
• Oversight and detailed review of quarterly Board Packs.
• Attending client meetings with the Senior Manager and advising the client on administrative matters and to ensure that any requests from the board are adequately adhered to.
• Assume authorised signatory responsibility for Ocorian and as such assist with authorisation of payments, transfers, deposits and foreign currency trades as well as execution of documentation on behalf of the client, wherever necessary.
• Providing cover for other staff and client groups during periods of illness and holiday.
• Any other such duties that might be reasonably required for your role.

Knowledge, skills and experience

• Experience and familiarity with ViewPoint desired
• Experience in remediation projects required
• Experience in finance and familiarity with the understanding of complex structures
• Careful examination ability to check work completed by others and ensure it meets set standards

Competencies

• Professional
• Approachable
• Motivated
• Efficient
• Accurate
• Flexible
• Dedicated
• Diligent
• Team player

ADDITIONAL INFORMATION

All staff are expected to embody our core values that underpin everything that we do and that reflect the skills and behaviours we all need to be successful.  These are:

• We are AMBITIOUS - We think and act globally, seizing every opportunity to support our clients and staff - wherever in the world they may be.
• We are AGILE - Our independence from any financial institution gives us the flexibility and freedom to keep things simple, efficient and effective.
• We are COLLABORATIVE - We take the time to understand our clients' needs so that we can deliver personalised solutions every time.

TRAINEE COMPLIANCE ADMINISTRATOR

JOB DESCRIPTION

This role involves a variety of compliance and regulatory analysis administration tasks and responsibilities.

RESPONSIBILITIES

Responsibilities will include data entry, file review and analysis in relation to client structures.

DUTIES

Duties will include:

• Responsibility for conducting compliance monitoring activities in accordance with the Compliance Monitoring Plan, assess levels of and adequacy of compliance, and produce compliance review reports for senior management, as required;
• Encourage staff to comply with regulations and standards and provide advice and guidance on what is required to comply, what constitutes good practice within a regulated environment, and how this is translated into operational areas;
• Review and preparation of matters relating to new business take-on procedures;
• Responsibility for all file review processes (and undertaking file reviews) and liaising with other departments to ensure all action points are dealt with in a timely manner and concluded;
• Scrutinising, interrogating and updating compliance records in relation to client structures;
• Liaison with Business Coordinator to run reports and check data entry records on Viewpoint;
• Responding to internal queries regarding compliance issues;
• Liaising with internal contacts regarding the production of compliance reports;
• Undertaking training of staff as appropriate in relation to the compliance function within the company;
• Undertaking training in respect of compliance and risk evaluation in order to improve knowledge and skills and maintain currency of knowledge in accordance with regulation standards;
• Identify and investigate issues or trends which may adversely affect business compliance and propose any necessary action to promote business improvement.
• Carrying out risk assessments for client structures;
• Acting as limited authorised signatory in respect of risk assessments;
• Any other related duties that may be required by a Manager from time to time.

While experience in a Compliance role may be an advantage it is not a prerequisite as full training will be provided.

person specification

Last updated: November 2022

Date of next review: Annually

(This job description will be reviewed annually in relation to the annual performance appraisal system and will be amended as required.)

Job Description

Compliance Officer / MLCO / MLRO

Role Location: Guernsey, Channel Islands

Department: Compliance

Employment Type: Permanent, Full Time

The Role

To act as the Maitland Administration (Guernsey) Limited (“Maitland Guernsey” or “the Company”) Compliance Officer, Money Laundering Compliance Officer (“MLCO”) and Money Laundering Reporting Officer (“MLRO”). The role will include providing support to all areas of the business by providing compliance advice and guidance.

To ensure that the Company has a comprehensive and effective system to monitor and report on matters relating to all aspects of compliance, internal risk, regulation, legislation, and control.

To ensure that Maitland Guernsey and its underlying Managed Client Licensees meet their legal and regulatory requirements in relation to its underlying obligations.

The appointed person will be required to:

• Execute the duties of the role diligently and professionally
• Act in accordance with the Maitland Code of Conduct
• Support and foster collegiate and friendly interpersonal relationships at all levels

The Key Compliance Officer Responsibilities:

• Acting as Compliance Officer for Maitland Administration (Guernsey) Limited.
• Where required, to act as the principal person responsible for compliance for Managed Licensees administered by Maitland Guernsey.
• To attend board meetings to report on regulatory compliance arrangements.
• To act as the main point of contact with the Guernsey Financial Services Commission (“GFSC”).
• To liaise with the Senior Management team and advise on relevant regulatory matters and good practice within industry.
• To provide a full range of compliance related support services including advice, guidance, monitoring and reporting to relevant and appropriate people within the Company and, where required, Managed Licensees administered by Maitland Guernsey.
• To assist with the maintenance of the compliance monitoring programme (“CMP”) and the subsequent reporting of the results to the business, the Maitland Guernsey Board and the relevant Managed Licensee Board’s in a timely manner.
• To review, when required, new business assessments and regulatory submissions.
• To assist the Maitland Guernsey Board with the preparation of the Maitland Guernsey prudential business risk assessment.
• To provide assistance and support during the course of any regulatory inspections and deal with any follow up issues as a result of such inspections.
• To ensure that the rules, regulations, policies, and procedures laid down by Maitland Guernsey are up to date at all times and disseminated to staff.
• To ensure that Maitland Guernsey staff are aware of their regulatory obligations on an on-going basis.
• To provide formal compliance / regulatory training to Maitland Guernsey staff as deemed necessary.
• To provide compliance oversight of outsourced relationships and activities as required.
• To ensure that the Maitland Guernsey Board are kept appraised of industry best practice and any such developments and changes in regulatory requirements / guidance and ensure that internal procedures are devised / adapted as required.
• To provide requisite management information to Maitland Group as prescribed from time to time.
• To act as Data Protection Officer.

The Key MLCO / MLRO Responsibilities:

• To attend the Maitland Guernsey Board meetings to present all aspects of AML/CFT reporting.
• To oversight and provide MLCO/MLRO reports to Managed Licensee Boards, as required.
• To manage the satisfactory completion of customer due diligence on new and existing relationships and on-going monitoring obligations in accordance with the provisions of the relevant legislation and the Company’s risk appetite and AML/CFT framework.
• To provide support to the business in ensuring efficient on-boarding of new clients and fund closings.
• To maintain the requisite experience and knowledge to ensure that the Company meets its regulatory requirements and update the Maitland Guernsey Board and Managed Licensee Boards with relevant regulatory information and changes.
• Oversight and Monitoring of the annual AML/CFT compliance monitoring program.
• Provide management information and statistics.
• Review AML/CFT training requirements and provide training as required.
• Provide Financial Crime & AML/CFT advice and guidance to the business.
• In conjunction with business operations, review, update and maintain AML/CFT Business Risk Assessments across the business.
• To oversee the review of the sanctions monitoring results and undertake any actions as required.
• To manage and oversee the Maitland Guernsey engagement in the pursuit to maximise the use of technology in all processes in order to control risk, suggest and specify technology improvements in pursuit of efficiency wherever possible.
• Ensure the Company has an efficient internal unusual/suspicious reporting framework and the make external suspicious activity reports to the relevant authorities.
• To ensure the filing of all necessary forms / submissions on time to the Regulator and other bodies to ensure that the Company does not breach any legal or regulatory requirement.

Skills Required:

• To meet the GFSC’s supervised role holder requirements and remain “fit and proper” as defined under the regulatory Laws.
• To hold demonstrable experience as a Compliance Officer / MLCO / MLRO and knowledge of the regulated funds services business and regulated fiduciary business.
• To hold the ability to assess business requests accurately and promptly, delivering pragmatic and timely solutions to compliance related queries and / or identified risks.
• To have a professional attitude, with-well honed interpersonal and communication skills, both written and oral.
• To have a positive and supporting attitude to colleagues and the ability to work collaboratively as part of a team whilst possessing the personal resilience to accept responsibility and accountability.
• To be able to effectively prioritise a busy workload.

To be able to specify and implement changes to systems and processes in line with technical change.

Target Vocational Qualifications

• Commitment to continuous professional development.
• Attendance at Industry seminars.
• Compliance/AML/CFT and other relevant update / skills courses as required.
• Bachelor’s degree / further Compliance/AML qualifications for example the International Diploma, Compliance / Certified AML Specialist.

The role will consist of supporting all the legal and regulatory compliance activities of the Chelmsford entities, as well as taking part in international projects and implementing global procedures on a local level.

The Compliance Officer will assist the Head of Compliance and staff members in discharging their responsibility to comply with applicable legislative and regulatory requirements through the provision of compliance services and to identify, assess, manage, monitor and report regulatory compliance risks facing the organisation. 

Education

• Degree level qualification, or equivalent, ideally in Business, Finance, Law or Compliance and Risk Management;

Experience

• At least 4 years relevant work experience in Compliance

Duties and Responsibilities

• Oversee licensing requirements and regulatory obligations (including reporting, applying for new business products, etc.);
• Assume the role of MLRO;
• Monitor suspicious transactions and provide reporting and escalations as required;
• Consider the political exposure of potential clients and act appropriately;
• Ensure the effective implementation of the Compliance Monitoring programme and undertake all aspects of monitoring activities;
• Monitor compliance by the operating entities with applicable regulations and the efficiency and consistency of compliance controls and assist with the enhancement of procedures and controls;
• Track non-compliant findings with respective business unit function managers until resolved;
• Actively manage the mitigation of compliance breaches;
• Maintain appropriate written procedures to ensure compliance with applicable legislation, regulations and group policies, and to monitor adherence to such procedures;
• Assist in promoting a culture of compliance and risk awareness;
• Prepare training material and deliver training in compliance with regulatory obligations and business procedures;
• Prepare compliance reports to management, various committees and governance structures within the group;
• Prepare reports to regulatory authorities;
• Maintain effective relationships with regulators and industry bodies, as applicable;
• Monitor changes in relevant legal requirements and other regulatory developments which may impact on the company and advise the Directors on their implications:
• Circulate regulatory development registers to the Directors and senior management;
• Provide advice to the Directors on the regulatory implications of new business areas and new products;
• Contribute to the oversight of the administration and transfer agency delegates.
• Undertake projects such as those projects addressing new regulatory initiatives and the review of existing policies;
• Assume the role of Data Specialist and provide guidance on Maitland’s data privacy programme;
• Actively manage the mitigation of data breaches in accordance with Maitland’s data breach process.

Skills

• Strong working knowledge of the UK Funds Industry regulatory framework;
• Well organized with the ability to work autonomously and deal with busy workload;
• Self-motivated, mature and able to use initiative with a strong hands-on approach;
• A discreet and confidential manner with confidence, persuasiveness and the ability to motivate colleagues;
• Good clear and concise written and verbal skills;
• The ability to communicate with staff at all levels of the business.