Our client, a fiduciary service provider licensed by the Isle of Man Financial Services Authority, offers trust and company services to clients globally. They are a medium-sized, independent Chartered Accountancy practice located in Douglas, Isle of Man, providing tailored financial and accounting solutions. The organisation is seeking a Head of Compliance to join their busy general accountancy practice and fiduciary service provider. This role is essential for ensuring robust compliance procedures are maintained across the business, and the successful candidate will play a pivotal part in the management team. The position allows for part-time hours and provides an exciting opportunity to oversee compliance across various facets of the organisation. The Head of Compliance will report directly to the Board and be instrumental in ensuring adherence to regulatory standards and best practices.
Job Duties:
- Manage the Compliance Department with complete oversight of client compliance and supervising tasks through to completion.
- Oversee the maintenance of the firm’s policies, procedures, and compliance manuals, directly updating as necessary.
- Stay informed of relevant regulation and legislation and assist the Board with regulatory consultations.
- Directly implement the Compliance Monitoring Plan for the firm.
- Review quarterly compliance reports for the Board and attend Quarterly Compliance meetings, ensuring proper follow-up on arising matters.
- Assist the Deputy MLRO and MLRO in ensuring compliance with AML/CFT legislation and guidance and oversee AML training preparations.
- Manage the preparation and submission of regulatory returns, ensuring compliance with all regulatory requirements and deadlines.
- Act as the primary liaison point with the Isle of Man Financial Services Authority.
- Attend signoff Committee and Risk Committee meetings, following up on arising matters.
- Conduct regular monitoring of high-risk clients and risk assess Politically Exposed Persons (PEPs), maintaining the PEP register.
- Maintain compliance registers and conduct breach investigations.
- Provide ongoing advice and support to staff regarding compliance matters.
- Conduct firm-wide training as appropriate and relevant.
- Supervise compliance staff in relevant tasks and carry out monthly reviews.
Job Requirements:
- Professional qualification in compliance.
- IOMFSA approval to act as Head of Compliance.
- Longstanding experience as a Head of Compliance in the TCSP industry.
- In-depth knowledge of the Financial Services Rule Book and the AML/CFT Code.
- Proven experience in developing and implementing a Compliance Monitoring Plan.
- Strong leadership capabilities, capable of seeing tasks through to completion while being involved in day-to-day compliance work.
- Excellent interpersonal skills to collaborate effectively with department members and external parties.
- Strong organisational skills and the ability to work to strict deadlines.
- Willingness to take on responsibility and ownership of tasks.
- Methodical with attention to detail.
- Experience or a professional qualification in data protection is advantageous.
What You’ll Love:
This role offers the chance to play a key part in maintaining and enhancing the jurisdiction’s reputation. You will work in a collaborative environment with opportunities to develop your skills in regulatory oversight, policy creation, and risk-based supervision. The organisation values professional growth and offers ample opportunities for training and career development.
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