Head of Compliance & MLRO
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We are seeking to recruit a Head of Compliance & MLRO who will work alongside our legal team to ensure Credorax has a strong regulatory framework from both the Banking and Acquiring side of the business.
Reporting to the Managing Director, responsibilities will include:
- Develop and implement an effective legal compliance program
- Developing and leading corporate legal strategy to promote and protect the company's matters
- Participating in the formulation of general management policy as a member of the executive management team
- Holding the post of MLRO of the company
- Responsible for monitoring the day-to-day operation of AML/CFT policies, and respond promptly to any reasonable request for information made by the FIAU or any other law enforcement bodies
- Developing the legal and contractual framework for the banking business
- Responsible for establishing the basis on which a risk-based approach to the prevention of money laundering/terrorist financing is put into practice and review the approach on a regular basis
- Responsible for all the AML reporting requirements and operate within the required standards
- Responsible for ensuring that adequate arrangements are in place for the awareness and training of employees. In particular training must be offered, of a high standard and the scope must be appropriate
- Responsible for identifying and assessing the compliance risks associated with the organization’s current and proposed future business activities, including new products, new business relationships and any extension of operations or network on an international level;
- Draft and publish Policies and Procedures on regulatory legal issues affecting the business, such as the impact of PSD2, GDPR and any other current and/or emerging applicable legislation
- Responsible for all compliance policies and manuals including Anti-Money Laundering regulations, FSA & FIAU regulations and issues, and notification to company of any regulatory changes
- Together with the regional managing director/country manager ensures that all group company activities and operations are carried out in compliance with local, state and federal regulations and laws.
- Acting as a central point of contact for all information on compliance-related issues (e.g. breach of regulation, non-respect of procedures, conflict of interest)
- Advise, educate and counsel the organization on how to address new emerging challenging segments from a regulatory perspective
- Reporting to the Audit Committee and responsible for preparing monthly reports
- Responsible for liaising with external regulators on compliance related matters and ensuring all compliance reports are submitted promptly and accurately to them
- Proactively audit processes, practices and documents to identify weaknesses, and creating sound internal controls to monitor adherence to same
- Set plans to manage a crisis or compliance violation
- Maintain proper corporate interactions with the relevant governmental regulatory bodies, legislatures and the community at large;
- Directly supervise and coordinates all relationships with outside counsel retained by the institution
- Collaborate with external auditors, regulators, correspondent bank and any other internal or external stakeholders in an efficient manner
- Play an evolving key role in developing the legal and contractual framework for the banking business
- Take a lead role in supporting the Credorax strategy in global licensing
- Participate in professional associations; attends industry-related conventions, conferences, reading pertinent publications.
- Performing other assignments as the Managing Directors and the Board of Directors may direct.