Our client is seeking a Compliance Advisor to provide compliance support for the companies within the organisation. The successful candidate may fulfil the Isle of Man FSA appointed role of Deputy Money Laundering Reporting Officer (DMLRO) for the Class 1 license holder. This role involves actively working to ensure that there are adequate and effective controls in place to mitigate regulatory, reputational, legal, and operational risks. The Compliance Advisor will also support Compliance and other Senior Managers in discharging their duties under the Controlled Function and Senior Managers Certification Regimes. This is a full-time position, with hours from 9am to 5pm, including a one-hour lunch break. The role entails a range of compliance tasks, including regulatory oversight, reporting, and business support, to ensure adherence to applicable legislation and regulations.
Job Duties:
- Develop and maintain a working knowledge of all applicable legislation, regulation, and codes of practice in the relevant markets, excluding company law and employment law.
- Carry out the DMLRO role as required and assist the MLRO in discharging formal duties.
- Review and analyse new legislation and regulations, engage with the business to assess impact, and implement necessary changes to policies and procedures.
- Identify areas of compliance vulnerability and risk; support the implementation of corrective actions and provide guidance on mitigating future issues.
- Maintain all registers and logs as required by the FCA Sourcebook and FSA Rulebook/Handbook.
- Take ownership of compliance monitoring to ensure effective controls are in place.
- Support effective issues management and action tracking, escalating and reporting open risks as appropriate.
- Provide management with opinions on the internal regulatory controls environment through regular reporting.
- Maintain a register of regulatory returns and notifications to ensure timely submissions.
- Provide ongoing advice on regulatory guidelines, data protection, and corporate projects.
- Support the preparation and management of compliance training programmes.
- Actively promote risk and compliance awareness within the organisation.
- Manage investigations and responses to complaints received from the Isle of Man and UK Financial Ombudsman Service.
Job Requirements:
- Experience in compliance monitoring within the banking industry.
- Relevant professional qualification or demonstrable industry experience in Compliance, Risk, Internal Audit, or Legal.
- Working knowledge of FSA Rules and FCA and PRA Rules, particularly in relation to Banking and Consumer Credit.
- Experience discharging DMLRO responsibilities.
- Detailed knowledge of AML rules and guidance.
- Ability to work systematically and independently while meeting deadlines and maintaining attention to detail.
- Strong verbal and written communication skills, excelling in an advisory capacity.
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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