Compliance Officer


United Arab Emirates

Job Description

I. General

Job title : Compliance Officer in local Intertrust office

Reports to Group Compliance Director, dotted line to Managing Director

II. Organisation chart (see above)

III. Objectives

The Compliance Officer has an independent position within Intertrust with the mission to

1. stimulate and monitor the observation of laws, rules and standards – including the Intertrust Principles of Conduct of Business – that are relevant to the integrity and, hence, to the reputation of Intertrust;

2. provide reasonable assurance that Intertrust and its employees comply with the laws, rules and standards;

3. develop a confident relationship and mutual understanding with the regulators and monitoring authorities with respect to Compliance matters;

4. facilitate the business aims of Intertrust balanced with points 1-4 above.

Pursuant to the legal obligations the Compliance Officer is focused on:

- “know your clients” and their transactions, including screening against sanction and watch lists;

- record keeping;

- unusual/ suspicious transaction monitoring and reporting.

Compliance department in the local Intertrust offices is independent of all business and operational functions and equipped with the power of access to all available information and the availability of sufficient resources for the purpose of identifying, preventing and mitigating compliance risks by all reasonable means.

Compliance Officer has a role of advising/recommending and not deciding.

IV. Deliverables

Key responsibilities include but are not limited to

1. Compliance Policies and Instructions

To contribute to the development of Intertrust Compliance regulations and standards by ensuring the drawing up, updating and supporting the implementation of Conduct of Business and the Business Clients and Compliance Manual and introducing these rules to the day-to-day practice of Intertrust Staff.

2. Compliance Risk Assessment and Monitoring

To identify and assess compliance risks - avoiding their occurrence and mitigating their impact if they should nevertheless occur - through active monitoring, control and reporting measures including but not limited to:

a. Client acceptance

b. Regular file review

c. Transaction Monitoring

d. Overnight screening of database (Phytagoras/WorldCheck)

3. Supporting Business – Advising Management

To support the business by advising on product development, client acceptance procedures and organisational changes.

Be involved in new projects and new activities in order to timely assess and address the compliance risks associated with the project/activity.

Be equipped with good communication skills, open minded, approachable and solution driven.

Advising management and staff on specific situations re the acceptability of customers and business.

4. Compliance Investigation - Reporting

To conduct and report timely on investigation pertaining to incidents, complaints and administration errors with follow up to ensure that appropriate corrective and preventive measures are in place.

Initiating and follow-up of regulatory as well as internal audit reviews.

Regular reporting, including quarterly Compliance and Risk Management report, to MD of local office and Group Compliance re developments on daily activity a.o. acceptance, file review, transaction monitoring, unusual/ suspicious transactions, local regulatory developments etc.

Whenever required or advisable reporting to the relevant regulators and monitoring authorities.

5. Compliance Training

To educate Intertrust Staff at all levels by conducting compliance induction training to new staff as well as regular training seminars and briefings to ensure staff awareness for compliance purpose.

6. Compliance organisation

Contribute to the development of the compliance department and Group Compliance within Intertrust by:

- sharing knowledge and best practices with compliance Officer of other offices;

- co-operating with other functions like audit and operational risk management.

7. Relationship regulator

Maintain a good relationship with regulator and monitoring authorities.

V. Requirements on qualifications and experience

 University degree preferable in Law;

 Holder of the relevant professional qualifications is an advantage;

 Compliance experience in a supervisory role in the finance or corporate services industry (5y);

 Business experience is of big advantage;

 Language skills: fluent in English.

VI. Authority

1. Internally within Intertrust:

 Direct reporting to Group Compliance;

 Absolute discretion to make recommendations on client acceptance as well as regular

 Authority to investigate supposed or potential breaches of law, rules and standards;

 Access to all information available in local office, relevant in execution of function.

2. External representative and signature authority:

 No representation for business/commercial purposes;

 Power to notify unusual/suspicious transactions

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