Our client is seeking a Compliance Manager / Money Laundering Reporting Officer (MLRO) based in the Isle of Man. This full-time position offers working hours from 9am to 5pm, with a one-hour lunch break. The successful candidate will play a vital role in managing compliance support for the FSA registered companies within the organisation. They will work actively to ensure there are adequate and effective controls in place to mitigate regulatory, reputational, legal, and operational risks. This role requires the individual to deputise for the Head of Compliance and the UK-based Compliance Manager as needed. Acting as the Isle of Man MLRO, the manager will coordinate with the UK MLRO for relevant operations and handle Data Protection matters. The Compliance Manager will also support senior management in fulfilling their responsibilities under the Controlled Function and Senior Managers Certification Regimes, making this a critical role for the company’s regulatory compliance strategy.
Job Duties:
- Drive compliance with all relevant Isle of Man legislation and regulation, excluding company and employment law.
- Identify areas of compliance vulnerability and risk; develop and implement corrective action plans to resolve issues while providing guidance for future situations.
- Ensure effective tracking of issues and actions, with appropriate escalation and reporting of open risks.
- Maintain and analyse key risk data to aid internal regulatory control reporting.
- Present regular reports to management, the Audit, Risk and Compliance Committee, and the Board on the status of the internal regulatory control environment.
- Support and deliver compliance training programmes, covering general compliance, AML/CFT, and financial crime requirements for new and existing staff.
- Oversee Isle of Man compliance monitoring and support broader compliance initiatives to maintain adherence to applicable laws and regulations.
- Assist in the maintenance and review of compliance policies and practices, including annual updates on relevant manuals and procedures.
- Ensure accurate and timely delivery of FSA regulatory returns and notifications, planning and owning submissions where necessary.
- Manage ad hoc notification, consent, or registration requirements for FSA registered companies, using external expertise when appropriate.
- Assess the impact of new legislation and regulations on the business, planning and implementing necessary changes within company policies.
- Provide support during regulatory visits and inquiries, including preparation and follow-up activities.
- Promote compliance awareness and a positive compliance culture within the business.
- Continue personal development to meet role requirements and business needs.
- Collaborate closely with the Head of Compliance and Compliance Manager (UK) to ensure risk-focused assurance plans.
Job Requirements:
- Hold a relevant professional qualification or possess a minimum of 5 years of relevant industry experience in Compliance, Risk, Internal Audit, or Legal.
- Detailed knowledge of the Isle of Man FSA Rule Book and AML/CFT Code as they pertain to deposit-taking/banking.
- Familiarity with international regulatory standards.
- Exceptional verbal and written communication skills, with a track record of presenting to senior management and internal committees.
- Ability to work independently and manage workloads effectively under pressure.
- Demonstrate a systematic approach to work, delivering to deadlines while maintaining attention to detail.
What You’ll Love:
This role offers the opportunity to work within a supportive and dynamic environment, where compliance is a key focus area. The successful candidate will be integral in shaping the compliance culture and framework within the organisation. You will have the chance to collaborate with senior management and contribute to critical decisions that ensure the business aligns with regulatory mandates. This position not only provides a chance for professional growth but also enables you to make a meaningful impact on compliance practices across the Isle of Man operations. Joining this client means becoming part of a team that values integrity and excellence in compliance, fostering a culture of awareness and responsibility.
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