Compliance & AML Intern at Standard Investment Bank Ltd

The candidate will assist the Head of Compliance on;-

1. Development and implementation of SIB’s risk-based Compliance Monitoring Program, identifying, assessing, monitoring and reporting all material compliance matters:
   • Create, update and maintain SIB’s Compliance Register and ensure SIB is kept informed of all new and/or amended legislation
   • Developing SIB’s Compliance Framework
2. Reporting on Non-compliance matters to the Head of Compliance:
   • Check and report on compliance with all statutory requirements for implementation by the affected Department
   • Drafting situational opinion on compliance for Head of Compliance approval and signature
3. Review monitoring of compliance with key compliance policies; this includes regular reviews of relevant registers, including restricted investment registers, conflicts and gifts and hospitality, employee independence
4. Maintain an understanding of relevant regulatory requirements to provide advice and guidance to staff to ensure implementation of compliance policies and procedures
5. Working with HR and MLRO to come up with regular training programs to employees on compliance and AML matters, including internal policies and procedures, the application of standards and guidelines, and relevant laws and regulatory requirements, promoting and enhancing a strong SIB-wise compliance culture
6. Work with Risk and Internal Audit to ensure compliance and AML risks are appropriately identified and assessed
7. Review due diligence information periodically for all records and transaction files
8. Ensure update of internal processes and procedures as required due to regulatory changes
9. Review and manage standard and ad-hoc information and data reports to regulators and other stakeholders as required
10. On a regular basis, manage the preparation of appropriate and timely management information on compliance and regulatory issues for the Managing Director, including suggested mitigating actions
11. Coordinating ad-hoc reports on compliance developments as required
12. Work with HODs on review of compliance policies and procedures on a regular basis to ensure they comply with statutory and regulatory requirements
13. Where relevant, participate in the development and implementation of all departments’ policies and procedures, ensuring regulatory and legislative requirements are met
14. Support the Head of Compliance in the development and maintenance of effective and efficient interaction with regulators, ensuring SIB’s views are appropriately represented and facilitating the supervisory activity of regulators in the organization
15. Report any non-compliance issue and material breach of organizational and legislative requirements that remain un-rectified to the Head of Compliance
16. Assist in coordinating investigation of fraud cases, liaise with CMFIU and Legal on litigation and/or arbitration cases, and represent SIB as witness in Court
17. Conduct due diligence on high risk clients, including development and upgrades of high-risk client profile
18. Assist in preparing responses to all Due Diligence requests from fund managers and other institutions
19. Review KYC documents and client instructions, confirm uploading into the system and ensure data updates and proper storage

Anti-Money Laundering:

1. Maintain the SIB AML policy
2. Review various AML due diligence checks for all key parties involved in each SIB transaction
3. Provide advice to the business related to AML requirements
4. Report AML non-compliance issues
5. Review transactions to ensure AML reporting compliance

Qualifications

• Bachelor’s Degree in Law
• 1 years’ experience working with regulators or regulatory compliance service providers
• Detailed knowledge of financial services regulations, as impacting SIB’s business, e.g. know your client, anti-money laundering, sanctions, insider dealing, market abuse, conduct of business and conflicts of interest
• Knowledge and experience of best practice compliance and governance frameworks, methodologies and emerging practice, compliance monitoring and risk assessments