Job purpose
The MLCO is an oversight role. The MLCO is required to monitor and ensure CFSL’s compliance with all relevant legislation, requirements and guidance to guard properly against involvement in financial crime, including fraud, market abuse, money laundering and the financing of terrorism.
Responsibilities
• CFSL maintains AML / CFT procedures that comply with local legislation
• The compliance function follows CFSL’s agreed CMP in relation to AML / CFT, including undertaking periodic reviews of client files and quarterly sanctions screening of the client base
• Significant issues identified by the CMP are reported to the Board of Directors by the compliance function, a method to correct these is agreed and action is taken accordingly
The MLCO must:
• Be employed by in the same financial group as CFSL
• Be based in Jersey
• Have sufficient experience and skills.
• Report regularly and directly to the Board