Purpose of the role:
The purpose of this senior role is to lead the Jersey Risk & Compliance function in undertaking the above activities and fulfil the JFSC Key Person role(s) of the Compliance Officer and Jersey Money Laundering Compliance Officer (MLCO) of all Jersey licensed entities.
Responsibilities:
- Establish and maintain appropriate frameworks for the effective identification of risk, staying abreast of regulatory and legislative changes and identifying industry risk patterns and trends
- Ensure the development and timely maintenance of an Obligations Register of applicable Jersey Laws, Orders and Codes mapped to associated controls, policies and procedures to assess residual risks and mitigating actions including compliance monitoring actions
- Ensure that proportionate controls, systems, policies and procedures are established and maintained for the effective mitigation and management of identified risks
- Ensure appropriate analysis of new or changing regulation/legislation and work with all necessary stakeholders to ensure effective and timely implementation of any consequential changes
- Ensure the timely production and provision of monitoring reports, emerging risks, patterns and/or trends and make recommendations for management responses and/or corrective actions to ensure continued compliance, appropriate risk mitigation and/or alignment to the risk appetite
- Ensure senior management and the respective Boards of licensed entities receive regular written reports in respect of each licensed entity’s compliance with all relevant Laws, Orders and Codes