Compliance Analyst

RF•St. Michael, AK

40d

About The Position

The role of the Compliance Analyst supports the day-to-day implementation and administration of the Compliance program and procedures of RF Merchant Bank & Trust (Barbados) Limited.

Requirements

Bachelor’s degree in Business Administration, Finance, or related field
Minimum of 2-3 years’ work experience in a Compliance or equivalent role
Required to attain internationally recognized credentials in the area of compliance (e.g., CAMS or ICA Diploma) within six (6) to twelve (12) months after your appointment; and maintain continuous professional education necessary to retain your credentials and keep current with developments with the compliance industry
Microsoft Office suite proficiency
Ability to work independently with minimal day-to-day oversight, while also being able to communicate openly and regularly on (a) matters impacting the performance of key responsibilities and (b) challenges with CFC compliance by the Bank
Ability to work additional hours including public holidays that fall within your home jurisdiction when required to support Group operations, especially where those holidays are not observed in other jurisdictions
Ability to travel on a periodic basis as required
Ability to meet deadlines and produce work that is at a professional level (i.e., free from grammatical errors, typos and otherwise sloppy mistakes)
Ability to maintain confidentiality and handle sensitive information appropriately
Have strong written skills, the ability to understand and analyze operational functions, excellent problem-solving skills and excellent interpersonal and communications skills; and adhere to the highest degree of professional standards and strict confidentiality.

Responsibilities

Assisting with the managing and administering of the compliance program for the Bank under the direction of the Senior Compliance Analyst, and the Compliance Officer/Money Laundering Reporting Officer (“CO(s)/MLRO(s)”) across jurisdictions.
Monitoring changes in laws, regulations and trends both locally and within the jurisdictions the Bank operates and shares information with a view of establishing enhanced controls to mitigate compliance risk for the Bank. Therefore, it is expected that a current knowledge of all the compliance rules and guidelines are maintained and that continuous and on-going dialog with the Senior Compliance Analyst and/or CO(s)/MLRO(s) occurs on such matters.
Assisting with activities that ensures the Bank complies with FATCA/CRS obligations under the jurisdictions which the Bank operates, and across the variety of business units.
Assisting with the maintenance of the Bank’s Countering-Financial Crimes (CFC) compliance policies and internal control procedures.
Performing and participating in annual quality control reviews and other periodic monitoring activities of the CFC compliance program for the Bank.
Reviewing of account opening documents to ensure legal and regulatory compliance; including but not limited to conducting Know Your Customer (KYC) due diligence checks, i.e. screening new customers for adverse media and sanctions, using open media sources, and the screening tools made available by the Bank.
Preparing annual reviews for high-risk clients for the jurisdictional CO/MLRO’s sign off, including but not limited to conducting Know Your Customer (KYC) due diligence checks, i.e. screening for adverse media and sanctions, using open media sources, and the screening tools made available by the Bank; and reviewing of the account transactions.
Performing periodic reviews of client accounts in accordance with the review schedules; including but not limited to conducting Know Your Customer (KYC) due diligence checks, i.e. screening existing customers for adverse media and sanctions, using open media sources, and the screening tools made available by the Bank; and reviewing of the account transactions.
Monitoring transactions to detect unusual or suspicious activity in accordance with regulatory requirements and internal procedures, escalating issues to the jurisdictional MLRO as necessary to mitigate compliance risks. i.e. whether the filing of a Suspicious Activity Report (SAR) is warranted.
Documenting investigative steps of all unusual or suspicious activity including internet searches and sanctions checks, enhanced due diligence and maintaining supporting documentation for all investigations, prior to escalating to the jurisdictional MLRO.
Assisting in the investigation of unusual or suspicious activity cases. Ensuring all regulatory forms are accurately completed and filed within the designated timeframe.
Assisting with the handling of enquiries from the law enforcement or regulatory authorities.
Effectively utilizing risk-based tools/monitoring systems implemented by the Bank; and this includes the maintenance of and the completeness and accuracy of information therein.
Assisting in the implementation of the CFC training program for all staff.
Ensuring the CFC record-keeping requirements are always adhered to.
Performing other associated duties as requested by the Senior Compliance Analyst and/or jurisdictional Compliance Officer(s)/MLRO(s) and/or AVP, Risk & Compliance, and/or the Audit & Risk Management Committee of the Board of Directors.