Waystone
Associate Director - MLRO
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About Waystone
Waystone is a leading asset-servicing solutions provider of institutional governance, administration, risk and compliance services to financial institutions. With over 25 years’ experience and a comprehensive range of specialist services to its name, Waystone helps our clients structure, operate and grow through our expertise, innovation and digitisation, backed by the operational scale to support global expansion
Summary
Reporting to the Head of MLRO Services, the Associate Director– AML Officer Services will be an integral part of the team’s success.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- The successful candidate will act as AMLCO and MLRO for predominantly offshore funds/investment entities.
- Undertake AML Officer Services on behalf of certain clients and ensure the respective AML policies at fund level are implemented.
- Draft and/or update of policies / procedures for the AML Officer Services (“AMLCO”) team.
- Guide and train the AMLCO team to allow for a cohesive team that fosters growth & learning, with a key focus on quality of service.
- Plan and track annual deliverables for the team.
- Ensure team is on target to meet deliverables.
- Along with wider group manage client relationships.
- Assist in the identification, review and reporting of relevant Compliance KPIs for management.
- Support with regulatory interaction and correspondence.
- Identify opportunities for growth and efficiencies in the team.
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REQUIREMENTS
- Ensure the fund/investment entity has adequate procedures in place to comply with all aspects of the applicable AML regulations.
- Regularly request and review reports from the fund’s administrator and/or the fund’s investment manager as regards Money Laundering and Terrorist Financing Risks, as applicable.
- Regularly request and review reports from the Fund Administrator and/or the Investment Manager firm on Anti-Money Laundering and Anti-Terrorist Financing compliance, as applicable.
- Receive and investigate internal suspicious activity reports (“SARs”) and where deemed necessary, report SARs to the appropriate reporting authorities. Report on Anti-Money Laundering and Anti-Terrorist Financing to the fund board/governing body at its scheduled meetings.
- Conduct an annual review of the fund administrator’s and/or investment manager’s Anti-Money Laundering and Anti-Terrorist Financing procedures and controls, as applicable.
- Perform periodic testing to verify the Fund’s/Investment Entity’s compliance with applicable AML regulations.
- Attend calls/meetings to promote the offering to potential clients.
- Assist with the onboarding of new clients.
- Attend client due diligence meetings.
- Manage service to ensure deliverables are on target to be met throughout the year and at year end.
- Act as point of escalation for team.
- Manage team.
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Experience
- Approximately 10 years’ experience, preferably in financial services/ fund administration with exposure to AML compliance.
- Experience of compliance monitoring and reporting, preferably in a financial services environment.
- An understanding of Cayman, Irish and Bermuda AML legislation, preferably in the context of funds is desirable.
- Consistent attention to detail.
- Strong analytical skills.
- Ability to communicate effectively and professionally with colleagues at all levels, in particular, at senior management and board level.
- Willingness to take on new challenges and ownership.
- Ability to use initiative and contribute to continuous improvement.
- Ability to work independently and to manage time priorities and workload efficiently.
Education
- University degree preferably specialising in law, business or regulation.
- Professional qualification (such as ACOI, AML qualification) desirable but not required.
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