Job Purpose:
The CO’s main function is to monitor whether the law of Jersey, and the Code of Practice for Investment Business, are being complied with by the company in its conduct of undertaking investment business. The company is required under the Code of Practice to appoint a CO and in doing so the position holder will advise and assist the Board to comply with its obligations under the regulatory system. The CO will be responsible for providing the company with a compliance framework that sets the parameters of acceptable conduct, compliance services that provide guidance and give management reasonable assurance that the company is complying with relevant laws and regulations.
Compliance Officer Purpose:
In general, the CO is required to: -
• Identify regulations applicable to the business and assess their impact on processes and procedures.
• Provide guidance on how to apply and interpret the various regulations and policies that apply to business.
• Provide guidance on how to develop, implement and maintain the companies policies and procedures for its regulated activities.
CO Main Responsibilities:
• Ensuring the registered person has robust arrangements for compliance with the Law, Orders (issued under the Law) and Codes;
• Ensuring appropriate monitoring of operational performances and promptly instigating action to remedy any deficiencies in arrangements; and
• Providing the principal point of contact on regulatory matters.