Duties and Responsibilities
TheCompliance Officer & Money Laundering Reporting Officer (MLRO)atInventureis responsible for overseeing the firm's compliance framework, ensuring adherence to relevant regulations, and acting as the key officer for Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) reporting. This role involves developing compliance policies, managing regulatory risks, and serving as the main contact with regulatory authorities. The MLRO is responsible for identifying and reporting suspicious activities while ensuring the firm's operations comply with applicable laws and standards.
Key Responsibilities:
1. Compliance Management:
- Develop, implement, and maintain the firm's compliance policies and procedures to ensure full adherence to local and international regulations (e.g., AML, CTF, KYC).
- Monitor regulatory developments and ensure the firm complies with all relevant legal and regulatory requirements, including those set by the financial services regulators.
- Conduct regular compliance risk assessments, audits, and reviews of the firm's processes to ensure compliance is maintained across all business units.
- Act as a subject matter expert, advising senior management and the board on compliance and regulatory issues.
- Develop, maintain, and update the compliance manual and relevant documentation to reflect changes in regulations.
2. Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF):
- Serve as the designatedMoney Laundering Reporting Officer (MLRO)for the firm, taking overall responsibility for the firm's AML/CTF policies and procedures.
- Implement robust AML/CTF programs, including customer due diligence (CDD), enhanced due diligence (EDD), and ongoing monitoring of client activities.
- Ensure the firm has effective Know Your Customer (KYC) procedures in place and oversee the due diligence process for onboarding new clients and maintaining client profiles.
- Investigate and report suspicious transactions or activities to relevant authorities (e.g., Financial Intelligence Unit), as required by law.
- Prepare and submit suspicious activity reports (SARs) and ensure accurate records of these reports are maintained.
- Monitor and investigate any potential breaches of AML/CTF regulations and ensure appropriate remediation measures are taken.
3. Training and Awareness:
- Design and deliver regular compliance and AML/CTF training programs for all employees, ensuring that staff understand their legal obligations and the firm's policies.
- Ensure that staff are aware of their roles and responsibilities in identifying and reporting suspicious activities.
- Keep the firm updated on the latest compliance and AML/CTF regulations through regular internal communications and training sessions.
4. Regulatory Reporting and Liaison:
- Act as the main point of contact for regulatory authorities, handling inquiries and requests for information related to compliance, AML/CTF, and other legal matters.
- Submit all necessary reports, filings, and notifications to regulatory bodies in a timely manner.
- Prepare for and manage regulatory inspections, audits, and reviews, ensuring that all requested documentation is readily available.
- Respond promptly and appropriately to requests from external auditors, law enforcement agencies, and regulators.
5. Risk Management:
- Develop and manage the firm's compliance risk framework, including identifying, assessing, and mitigating compliance risks.
- Work closely with the risk management team to ensure that compliance and AML/CTF risks are effectively integrated into the firm's overall risk management strategy.
- Conduct ongoing monitoring and reviews of clients and transactions to detect and address potential risks, including those related to sanctions and politically exposed persons (PEPs).
- Collaborate with other departments to create risk mitigation strategies and ensure a holistic approach to managing regulatory risks.
6. Policy Development and Review:
- Regularly review and update the firm's compliance policies and procedures to reflect changes in regulations or business practices.
- Develop and implement policies around client onboarding, transaction monitoring, sanctions screening, and record-keeping to ensure compliance with AML/CTF regulations.
- Oversee the development and implementation of internal controls designed to detect and prevent regulatory breaches or unethical behavior.
- 7.Additional Responsibilities: Perform any other duties related to the position that may be reasonably assigned by the Employer, adapting to the evolving needs of the organization.
