Senior Business Compliance Officer

Responsibilities

The Senior Business Compliance Officer role is initiated since first line compliance assurance is the basis of our service offering. The role is to assure continuous focus on both delivery and quality of first line compliance, for and within each of the operational teams.

The Senior Business Compliance Officer is responsible to securing proper fulfilment of Wwft and WTT compliance in the team, and promoting the quality, consistency and uniformity of methods and definitions applied in the registration of all related actions and documents (data quality) in the relevant tools (such as SERR and ANTrance).

Tasks

The Senior Business Compliance Officer

• Assures the quality of the regulatory and procedural client due diligence during and outside the (periodic) compliance review process, and, if required in the onboarding process (in line with the WWFT and WTT). Educates and advises the members of the team to increase consistency and quality throughout the team.
• Assures substantiation and documentation of all relevant parts of the structure and the UBO(s) of the relevant parts of the structure (and the client). Verifies integrity risk profile (SERR), transaction profile, source of funds, source of wealth and total net worth of UBO(s). Explains the purpose of each layer of the structure and the flow of funds (chart). Drafts PEP and bad press memos if required. Implements mitigating measures and enhanced due diligence whenever required.
• Supports Client Service Managers with completing the Client Memorandum and Client Acceptance tab, ensuring that all assessments and conclusions are properly documented, and the Client Memorandum is snapshotted before the compliance review due date or before OCA.
• Escalates non-conformities and behavioural issues to the line manager and/or project manager.
• Performs overall client file reviews for the team.
• Maintains close contact with the Compliance team (assessing the quality of compliance and keeping track of open items). Ensures proper follow-up of their advises and/or action points, specific SERR improvements and GRRC requirements, within the team.

Requirements

Key competencies for the role

• Action oriented
• Communicates effectively
• Being resilient
• Interpersonal savvy
• Plans and aligns
• Organizational savvy

Key behaviours we expect to see

In addition to demonstrating our Group Values (Authentic, Bold, and Collaborative), the Senior Business Compliance Officer / Business Compliance Manager will be expected to demonstrate the following:

• Having a can-do mentality, integrity, transparency, and a risk management mindset.
• Being structured, well organized, proactive in approaching Client Service Managers and clients, and persistent.
• Planning the first line compliance follow-up tasks needed and assuring execution.
• Being the advocate for first line compliance and our procedures within the team.
• Sharing compliance news, tips, frequently made mistakes and best practices with the team.
• Supporting the guidance of the operational team members in the Netherlands and GCD in staying first line compliance adopters.

Required Experience

• Excellent organisational, prioritisation and interpersonal skills.
• Plans and aligns.
• Strong communicator and influencer.
• At least 3 years’ experience working in a similar compliance related role in the financial services industry.
• Preferably knowledge of or experience working in the (global) investor services industry.
• Knowledge of the Wwft and preferably the WTT.