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Head of Compliance & Money Laundering Reporting Officer

Job Seekers Ireland Compliance, Financial Services Financial Services

Job Summary

  • Dublin
  • Permanent
  • BBBH824436
  • Aug 04, 2022
  • Competitive
Job Description

Head of Compliance (PCF-12)& Money Laundering Reporting Officer PCF - 52) 100K salary + benefits on offer. Hybrid working model - Dublin location

This is a PCF-15 position for Head of Compliance
and PCF-52 for Head of Anti-Money Laundering and Counter Terrorist Financing Compliance under
the CBOI Fitness & Probity rules

The role holder would also act in a consultative way in advising the Board and Senior Management
on the effect of regulatory or legislative changes to business practices.
To develop and drive implementation of compliance within Clients, Agents & Distributors (in Ireland
and Netherlands currently) to ensure that regulations and financial services best practice is achieved
in this area.

Key Deliverables
Responsibility for interpretin

g regulatory rules and the impact on Clients.
The role holder would be expected to be the internal subject matter expert (SME) for the Central
Bank of Ireland (CBOI) rules. It is envisaged that this would include the maintenance of an internal
working document, procedures or knowledge base to ensure that regulatory information is shared
and that there is no single point of failure in relation to the regulatory information gained.
Responsibility for ensuring that Clients is complying with the various regulatory rules.
The role holder would be responsible for ensuring that Clients is compliant with regulatory
requirements including development and implementation of appropriate processes, measurement
and associated reporting of compliance related activities.
External point of contact
The role holder would serve as the conduit between GSVPE and external parties such as the CBOI,
law enforcement agencies and partner processors, to ensure consistency of messages and
responses. The role holder would be required to keep a record of all contacts and to develop the
relationships to the benefit of Clients.
Attributes: Skills
* Impact and Influence, both internal and external
* Excellent communication skills, both oral and written
* Stakeholder & Relationship Management
* Time management and the ability to prioritise
* Analytical skills

* Commercial Awareness
* Able to work effectively with minimal supervision
Attributes: Knowledge
* Excellent knowledge or an appreciation of CBOI rules and processes relating to
electronic money, payment services and financial promotion regulations.
* Qualification in Compliance or related qualification.
Attributes: Experience
* Experience in managing a compliance function within a financial services business in
Ireland preferably with experience in the payment's arena.
* Ideally several years' experience gained working within CBOI regulated firm.
➢ Be approved as the PCF15 (Head of Compliance) & PCF52 (Head of Anti-Money Laundering
and Counter Terrorist Financing Compliance) with the CBOI
➢ Ensure that the firm demonstrates to the CBOI, the Board, Business Partners and its
customers, that it subscribes to regulatory best practice
➢ Ensure the company has appropriate processes and procedures that meet regulatory
requirements while maintaining a commercial focus.
➢ Support the business leaders in the strategic planning for the function and the review,
enhancement and implementation of risk based financial crime prevention, detection
procedures, and systems and controls
➢ To advise management on and monitor compliance with Financial Promotion regulations.
➢ To work closely with Clients (UK regulated entity), Clients EMEA Legal &
Compliance and develop joint approaches using best practice to benefit BHN EMEA.

Communications with the Regulators

➢ Primary point of contact with the CBOI and maintaining an appropriate relationship with the
➢ Ensure CBOI regulatory returns are filed on time (but not necessarily responsible for
Board and Management

➢ Provide timely, accurate and relevant compliance advice for all aspects of the regulated
➢ Produce regular compliance reports containing relevant Management Information for the
Board and Senior Management on compliance related matters.
➢ Keep abreast of all new legislation and how it affects the business and report to the Board
and Senior management in this regard.
Procedures and Frameworks
➢ Ensure appropriate Compliance monitoring is undertaken, results reported and
recommendations, where appropriate, deliver improvements to systems or procedures.
➢ Review and recommend updates to controls, policies and procedures in line with business
and legislative changes. Ensure that controls, where accepted, are documented and
embedded with the business.
➢ Ensure that the compliance framework (second line of defence) enable the senior
management to effectively understand, manage, monitor, and mitigate the firm's various
compliance and regulatory risks;
➢ Ensure employees at all levels are aware of the relevant compliance requirements and
possible internal and external penalties for a breach of a law, regulation or company rule.
➢ Design and deliver regulatory training to all employees in a manner that is appropriate to
their role and seniority.
Suspicious Activity
➢ Be accountable for the firm's financial crime obligations and compliance with the various
pieces of legislation that impact on the business;
➢ Analyse Suspicious Transaction Reports referred for potential Money Laundering (ML),
terrorist financing (TF) and fraud activity. Report to the authorities where appropriate.
➢ Ensure Sanctions/PEP alerts are reviewed and actioned accordingly to reduce the risk of the
Group dealing with companies or individuals that might be subject to enhanced due
diligence measures or that the group cannot do business with due to being sanctioned.
➢ Support all business areas through provision of operational advice and guidance in respect
of the practical interpretation of AML, CTF & fraud prevention policies.

Morgan McKinley is acting as an Employment Agency in relation to this vacancy.


Consultant Details

Consultant Details

Alex Caffrey
  • Team Leader | Financial Services Recruitment
  • 353 (0) 1 4321555