Location: Jersey,GA, USA
Vacancy: Business Risk Officer
Full details of the job.
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Vacancy NameBusiness Risk Officer Vacancy NoVN952 Contract TypeEFT Duration LocationJersey Description
The position reports to the Head of Dealing & Treasury. This role involves close and regular interaction with all members of the SFDTS, Risk & Compliance and Middle Office Team with regards to all matters that impact on risk and regulatory compliance with respect to client structures.
OVERALL PURPOSE
The role acts as the first line of defence within SFDTS on all risk and compliance control matters providing practical assistance, support and advice to the SFDTS management team and assume full responsibility for all interaction and liaising with Risk and Compliance function where required.
Key Responsibilities
PRINCIPAL ELEMENTS AND ACCOUNTABILITIES
* Oversight, maintenance and enhancement of SFDTS client lifecycle processes to drive continual improvement in operational efficiency, control effectiveness and providing the SFT team with the operational control support necessary to offer exceptional client service.
* To act collectively as the first line of risk control and defence for Relationship Managers and as their liaison with the second line of defence, Risk and Compliance.
* Ensure that SFDTS is fully compliant with all relevant policies and procedures
To assist with all matters associated with the first line of defence, including:
* Provide guidance to team members on the collation and review of new and existing client KYC/CDD/enhanced due diligence during the establishment of new structures and advise on the reporting of beneficial ownership information
* Working with Risk and Compliance to ensure that new business is correctly presented to New Business Acceptance Committee and that the client meets JFSC regulatory requirements
* Assist the Executive Team to clear internal audit/compliance queries/findings and assist with remediation
* Record and maintain relevant registers - including breaches, errors, exceptions, complaints and incidents, changes to PEP status, etc. and assist the Executive Team with management of required action.
* Assist with RiskScreen/sanctions screening and internet searches, assisting with profile completion (where possible) and periodic review and transaction monitoring on clients in liaison with Risk & Compliance and prepare reports for the Executive Team as required
* Liaise with Risk & Compliance and Stonehage Fleming Law where necessary regarding all operational changes regarding the businesses for which this role is responsible
* Implement relevant policies/procedures and workflow/automation solutions, liaising with the Heads of Enablement, IT and Operations
* Update and maintain the Combined Risk assessment with material risks, liaising with Risk and Compliance and assisting with risk mitigation.
* Input into change projects relevant to the role, in liaison with other departments as required, including managing and assisting with the National Risk Assessment and any code mapping requirements and similar exercises from a SFDTS perspective
* Attend operational meetings and as required, Compliance meetings
* Ensure the provision of timely and accurate monitoring and reporting, and production of relevant management information to the relevant Boards
* Provide effective training /refresher training to SFDTS employees on compliance and AML/CFT matters, and assisting with new employee inductions and ongoing staff development
* Review and develop the technical and compliance skills of SFDTS employees to ensure they meet both the current needs and future of the business
* Coordinate, assist with and provide practical assistance with remediation projects as necessary
* Any other tasks as may be reasonably required of the role from time to time
QUALIFICATIONS AND EXPERIENCE
* Ideally educated to degree level
* 7 years plus experience in Financial Services Industry including extensive Trust & Company experience
* In depth knowledge of applicable Codes of Practice, AML/CFT legislation and regulations.
* Exposure to operational functions within previous roles
SKILLS
* Comprehensive knowledge of the regulatory regime with a full understanding of the risk and process implications for the business
* Flexible and able to multi-task, setting appropriate priorities and adhering to deadlines.
* Excellent interpersonal skills
* Good IT skills
* Ability to liaise and collaborate with individuals at all levels, being helpful and co-operative whilst working towards team goals
* Confidence to deliver practical compliance advice balancing risk management and commercial considerations.
* Risk identification and management.
* Good communication and influencing skills
* Proven experience of working in a challenging and fast-moving environment, across multiple jurisdictions and with complex products
Education LevelMaster's Degree or Equivalent Experience LevelSenior Benefits