HEAD OF FINANCIAL CRIME COMPLIANCE (Banking Sector) (M/F)

Contract Type: Permanent Location: Luxembourg Salary: Market related Start Date: 25-04-2024 Reference: JO0000005028 Contact Name: Maria Diacenco Contact Email: maria.diacenco@dorecruit.com Job published: 25 April 2024

HEAD OF FINANCIAL CRIME COMPLIANCE (banking sector) (M/F)

DO Recruitment is delighted to support our client, a prestigious bank, in the recruitment of their new Head of Financial Crime Compliance (FCC), an important and strategic role for the organisation. The role is based in Luxembourg, and it will directly report to the Chief compliance Officer of the bank. The mission is to maintain an effective financial crime compliance program, notably by assisting in the development and implementation of relevant tactical or strategic measures, including in relation to the on-boarding of new clients and business relationships.

• Leading the day-to-day management of the Compliance Function’s FCC team, covering the second line FCC responsibilities.
• Provision of proactive FCC advice and training to management and employees in all relevant business lines as required.
• Timely completion of the FCC Compliance Monitoring Program including operational and periodic controls, and drafting of related Compliance reports.
• Proper follow up of the implementation of the recommendations issued by the FCC team.
• Participation in the FCC risk assessment process and in the oversight of the first line’s FCC risk assessment process and internal control framework.
• Contribution to the Bank’s regulatory watch process by identifying new or updated relevant laws and regulations and their impact in local policies, procedures and manuals.
• Ensuring that the contribution of the FCC team in the client on-boarding and periodic review processes is adequately organised, prioritised and timely completed, in compliance with local laws, regulations, as well as internal policies, procedures, manuals.
• Creation and maintenance of FCC policies, procedures and manuals as required by Luxembourg laws and regulations, as well as implementation of relevant Group policies and procedures.
• Supervision of the timely handling of alerts generated by the name screening, the ex-ante and ex-post transactional monitoring tools. Oversight on AML tools outsourced.
• Contribution in the drafting of the FCC sections included in any required regulatory reporting or internal reporting to governance bodies or the Group Compliance functions.
• Immediate escalation of any risk or suspicion to the CCO.
• Cooperation and proper communication with Group FCC, other local 2nd or 1st line control functions, the internal audit department, the external auditor, and other key stakeholders.
• Interactions with relevant FCC authorities when required.
• Contribution/Leading projects and initiatives with FCC impact.
  

• At least 10 years of related financial crime compliance experience (preferably in compliance, but also internal audit, external audit, regulator) within the Luxembourg private banking, investment funds and financial services sectors.
• Knowledge of local and international sanctions regimes.
• Strong leadership and management skills with a successful track record of managing medium sized teams.
• University degree, preferably a Master’s degree in Law or Finance.
• Excellent understanding of the private banking and investment funds activities, of their legal and regulatory aspects.
• Excellent communication skills to provide clear guidance and advice to the business, and firm leadership on FCC regulatory and compliance requirements.
• Mandatory English oral and written communication skills. Ability to speak a second European language (preferably Greek, French, Portuguese) will be an advantage.
• Familiarity with IT systems and MS Office applications.
  

CLIENT:
Our client is a prestigious private bank located in the city center of Luxembourg.

At the final stages of the recruitment process, the successful candidate can be asked to provide supporting documentation such as, for example, copies of diplomas or proof of previous jobs, and a standard criminal record check might also be requested.