Business Control Officer

Our client seeks a Business Control Officer to join their team. Role Profile: This role involves close and regular interaction with all member of the Family Office and Corporate Service team, Accounting, Banking, Investment, Middle Office and Risk & Compliance. Key Responsibilities: To provide practical assistance, support and advice to Relationship Managers associated with trusts, company's administration and trustees on compliance related matters and as far as permissible by regulation, assume the responsibility for all interaction for First Line of Defence; and for liaison with Risk and Compliance where required. You will also manage a small team who provide operational compliance support to the Family Office Isle of Man. Support may, on occasion, be provided to Family Office teams in other jurisdictions as required. Working with Relationship Managers, Relationship Manager assistant and Business Heads to build and strengthen the relationship with Risk and Compliance. In respect of compliance matters, to act as the First Line of Defence for the Relationship Managers and Business Heads and as their liaison with the Second Line of Defence, i.e. Risk and Compliance and occasionally with Audit on the Third Line of Defence. This includes client risk reviews, such as: Review and manage any records relating to conflicts of interest, breaches, complaints and operational incidents; Record and monitor exceptions, recommendations and any other regulatory matters requiring resolution; Prepare new (i.e. 120 days review) and assist the Relationship Manager through their customer Risk Assessment including performing the Risk Screen pro checks; Report any material risk matters to Risk and Compliance and assisting in addressing and mitigating; Provide effective training /refresher training to Relationship Managers and business heads on compliance and AML/CFT matters, and assisting with new employee inductions and ongoing staff development; Review and develop the technical and compliance skills of the Front Office employees to ensure they meet both the current needs and future of the business; Work in collaboration with the Relationship Manager to ensure that the New Business Approval Committee and the on-boarding workflows are correctly updated, profile properly captured, risk assessment conducted and proper CDD collected. Coordinate with regional BCO in respect of cross-border business. Ensure that the Data Base is updated where any EDD/SDD is applied or if any PEP connection is identified at the time of on-boarding or during the lifecycle of the client. Being able to extract any report on these items upon request by the Regulator and/or Risk Compliance. Attend quarterly jurisdictional Risk & Compliance Committee meeting. Assist on AML / CFT project / Risk action items. Support the relevant regulatory board(s) in the collation of all data required in relation to the submission of information for the purposes of jurisdictional regulatory data requests. Suggest relevant policies and procedures and workflow solutions; coordinate with Risk Compliance to implement relevant policies and procedures and workflow solutions, and changes to them, in liaison with business and operational heads. Work with Business Heads to draft or update operations.
If you have the required skills please apply online at searchandselect.com quoting reference number: 15608