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Designated Compliance Officer

Designated Compliance Officer

Alliance Recruitment Agency

Vingt Cinq, Agaléga, Mauritius

Position: Designated Compliance Officer
Location: Rose Hill, Mauritius
Employment Type: Full-time, On-site

Role Overview: As a Designated Compliance Officer, you will be responsible for implementing, maintaining, and enforcing regulatory compliance protocols to ensure adherence to the regulations set by the Financial Services Commission (FSC) in Mauritius. You will also handle compliance for clients with special licenses, preventing, detecting, and responding to compliance, regulatory, and ML/TF risks. This role involves conducting file reviews, due diligence procedures, and drafting compliance manuals.

Key Responsibilities:

  1. Review and update the company's Compliance Procedure Manual.
  2. Maintain compliance with the Procedure Manual.
  3. Prepare, vet, and ensure client/company agreements and documents comply with Mauritius laws.
  4. Review client files to rectify non-compliance issues.
  5. Support and liaise with the outsourced compliance team.
  6. Complete and upload compliance surveys.
  7. Maintain updated legislation for staff reference on the company's SharePoint.
  8. Discharge FATCA/CRS responsibilities and perform preliminary vetting of documents/agreements.
  9. Review banking transactions, source of funds, and accounts for suspicious activities.
  10. Liaise with regulatory bodies on compliance issues.
  11. Act as Designated Compliance Officer (DCO) and/or Deputy Money Laundering Officer (DMLRO) for clients with special licenses.
  12. Accept appointments as a director on client companies if there are no conflicts of interest.
  13. Conduct regular staff training and provide updates on relevant laws and compliance matters.
  14. Report to Directors/Office Manager.
  15. Extend services to related companies providing professional services to foreign clients.

Qualification :

Bachelor degree

Primary Responsibilities :

Qualifications:

  • International compliance qualification (e.g., ACAMS, ICA).
  • Strong knowledge of AML/CFT Framework and best practices.
  • Minimum 5 years of experience in the financial services industry.
  • Experience with AML compliance programs.
  • Understanding and experience with CRAs (customer risk assessments) and BRAs (business risk assessments).
  • Excellent analytical skills and attention to detail.
  • Strong communication skills, both written and verbal.
  • Ability to present complex information clearly to diverse stakeholders.

Contract Highlights:

  • Position: Compliance Officer (probationary period); elevated to Designated Compliance Officer/Deputy Money Laundering Officer upon FSC clearance.
  • Duties include reviewing compliance manuals, maintaining compliance, preparing agreements, supporting outsourced compliance team, conducting due diligence, and liaising with regulatory bodies.
  • Probation period: 6 months, potentially reduced upon FSC clearance.

Training: Training on AML/CFT Framework of Mauritius will be provided.

Fit ad Proper Requirements: Under section 20 of the Financial Services Act 2007, the Commission may consider the following criteria to determine if a person is fit and proper:

  • Financial standing
  • Relevant education, qualifications, and experience
  • Ability to perform relevant functions properly, efficiently, honestly, and fairly
  • Reputation, character, financial integrity, and reliability

Technical Competencies: The Compliance Officer is expected to have advanced knowledge of:

  • The industry/sector in which the licensee operates
  • Updated anti-money laundering framework in Mauritius
  • The licensee’s products and services, including their legitimate uses and their laundering vulnerabilities

Demonstrating Competencies:

  • Qualifications: Relevant qualifications from a recognized institution.
  • Experience:
    • At least 5 years of relevant experience in the industry.
    • Alternatively, at least 3 years of relevant experience in the industry with valid AML/CFT professional certification (e.g., ACAMS, ICA).
    • Minimum of 10 years of relevant experience for Section 4.6 of the Competency Standards.

Structured CPD per Year: Minimum of 10 hours

Other Requirements:

  • Upon appointment, a Statement of Declaration from the licensee attesting that the Compliance Officer meets the minimum competencies and is deemed competent.
  • A Certificate of Character from the Compliance Officer.

Training: Training on AML/CFT Framework of Mauritius will be provided.

Contract Highlights:

  • Position: Compliance Officer (probationary period); elevated to Designated Compliance Officer/Deputy Money Laundering Officer upon FSC clearance.
  • Duties include reviewing compliance manuals, maintaining compliance, preparing agreements, supporting outsourced compliance team, conducting due diligence, and liaising with regulatory bodies.
  • Probation period: 6 months, potentially reduced upon FSC clearance.

Location

: Alliance Recruitment Agency

: https://alliancerecruitmentagency.com/

:

+91 8980018741

: 2 To 7 Years.

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