Business Control Officer at Stonehage Fleming

OVERALL PURPOSE

• To provide practical assistance, support and advice to Relationship Managers associated with trusts, companies 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.

Key Responsibilities    
PRINCIPAL ELEMENTS & ACCOUNTABILITIES 

• 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 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) / existing (i.e. AML file review) periodic risk review and approve where required. This includes seeking additional information and documentation when not provided, obtaining KYC/CDD
• 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
• Assist the Relationship Manager through their AML review and performing the Risk Screen pro checks
• 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/EP 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 
• 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
• Maintain and streamline the Front Office section of the Hub, ensuring all processes, guidance notes and policies and procedures are available and kept updated
• Consider the business impacts of new and future  laws, regulations, and compliance and other risks and their impacts on the current  policies, procedures and processes. Inform relevant business heads and operation heads of such changes
• Liaise with Group Head BCO’s in any cross border AML/CFT issues / suggestions for improvement to Group AML/CFT processes
• Attend the monthly Center of Excellence BCO meeting

QUALIFICATIONS AND EXPERIENCE

• Sound experience within the Financial Services Industry and in particular across the fiduciary sector. A reasonably well developed knowledge of relevant legislation and regulation would be an advantage. Exposure to operational functions would be an advantage and an ability to communicate well with people, and speak/write the English language.

SKILLS

•  High level of English
•  Ability to keep confidentiality with regard to client matters
•  At least 5 years of experience in the finance industry
•  Professional qualification in respect of legal and compliance matters
•  Excellent interpersonal and influencing skills and an ability to liaise and collaborate with individuals at all levels, being helpful and co-operative whilst working towards team goals 
•  Flexible and able to multi-task, setting appropriate priorities and adhering to deadlines.
•  Advanced  Microsoft Office skills (Word and Excel)
•  Confidence to deliver practical compliance advice balancing risk management and commercial considerations.
•  Proven experience of working in a challenging and fast-moving environment, preferably cross multiple jurisdictions and with complex products

Education Level    Degree or Equivalent

Experience Level    Mid Level