Job Description

Career Opportunity - Compliance Officer and Chief Anti-Money Laundering Officer

Our client, a subsidiary of Bank of Montreal, is seeking to recruit an experienced professional for the role of Compliance Officer and Chief Anti-Money Laundering Officer for its reinsurance and banking entities in Barbados.  The Compliance Officer and Chief Anti-Money Laundering Officer will report directly to the General Manager. 

The Role
The Compliance Officer and Chief Anti-Money Laundering Officer will be responsible for:

• Identifying, assessing and responding to emerging regulatory changes, including new or amended requirements or new interpretations of existing requirements in accordance with the Regulatory Change Management Manual.
• Conducting Regulatory Compliance Risk Assessments (RCRA) in accordance with the RCRA Manual.
• Designing and executing controls to effectively mitigate regulatory risk.
• Planning and executing First Line Monitoring and Testing Plans in accordance with the Enterprise Compliance Program (ECP).
• Identifying and assessing the severity of reporting and remediating compliance issues currently impacting, or with the potential to impact, the effectiveness of the compliance program. This includes documentation in GRCE (a compliance database), monitoring the resolution of action plans and reporting on remediation progress.
• Reporting on the ECP to Senior Management and the Board, including metrics, KRIs and KPIs.
• Reviewing and updating Anti-Money Laundering (AML) operating procedures annually in accordance with the AML Enterprise Program Manual.
• Maintaining the AML program and monitoring on-going compliance with applicable laws, regulations, guidelines and company policies. 
• Identifying, assessing and overseeing the satisfactory resolution of AML issues, including ensuring adequate management of remediation plans and validation. 
• Developing and updating subsidiary policies and procedures to comply with regulatory requirements. 
• Ascertaining training needs based on regulatory and industry developments; changes to products, services, and operations; risk assessments and monitoring and testing results; and the results of audits, regulatory reviews, and examinations.
• Liaising/coordinating activities with other risk areas (e.g. internal audit, risk management, legal) as required.
• Supporting the effective responses to Compliance related regulatory examinations as applicable.

The Candidate
The Compliance Officer and Chief Anti-Money Laundering Officer will possess: 

• A Bachelor’s Degree in Finance, Accounting (or equivalent) with a minimum of six (6) years’ senior management experience in the financial services sector.  A professional Anti-Money Laundering certification is preferred.
• Sound knowledge of regulatory/compliance requirements and operations of the financial services sector with oversight of the Compliance and AML programs.
• Strong working knowledge of understanding and interpreting legislation and local regulations.
• The ability to develop policy and procedure documentation.
• Excellent organisational, analytical and problem-solving skills with an eye for detail and accuracy.
• Excellent interpersonal skills with the ability to interact with senior management including reporting to the Board of Directors. 
• Excellent communication and presentation skills.    
• High proficiency in the use of compliance management software and Microsoft Office Suite; Word, Excel, PowerPoint.

All suitably qualified candidates interested in this opportunity should send their Curriculum Vitae with full details of their experience, achievements and qualifications, along with the names and contact details of two business references to https://caribbeancatalyst.hire.trakstar.com/jobs/fk0ptia?source= no later than April 23, 2025.

 

Job Tags

Similar Jobs