AML Compliance Officer

Y. Vasiliou & Co LLC (Vasiliou Law) is one of the fastest-growing law firms with expert lawyers in Cyprus, providing legal services with extensive and expanding clientele, ranging from private individuals and international clients to global organizations. Vasiliou Law is looking to recruit an AML Compliance Officer to join our offices in Larnaca. The job offering is for full time employment, starting date as soon as possible.

The successful applicant will play a key role within the Organization and the Compliance Department organizing the implementation of AML/CTF measures and sanctions policy in accordance with applicable laws and regulations.

You must hold a minimum of 3 years’ experience as an AML Compliance Officer or similar role.

This is an excellent opportunity to be part of an enthusiastic and expanding team.

Job description

• Develop and, when necessary, update the Company’s internal policies related to money laundering and terrorist financing prevention (AML/CTF) and international sanctions policy;
• Organize the implementation of AML/CTF measures and international sanctions policies in accordance with applicable laws and regulations;
• Monitor and verify on an ongoing basis that the Company is fulfilling the requirements prescribed by policy and according to applicable laws and regulations related to AML/CTF and sanctions;
• Provide the employees with advice and support regarding the policies and procedures, applicable laws and regulations related to AML/CTF and sanctions;
• Inform and train the employees about the policies and procedures, applicable laws and regulations related to AML/CTF and sanctions;
• Execute transaction monitoring in accordance with the internal policies and procedures;
• Investigate and maintain internal notifications provided by the employees relating to potential suspicious activities;
• Manage the collection and analysis of information referring to unusual behavior, transactions or circumstances suspected of money laundering (ML) or terrorist financing (TF);
• Cooperate and communicate with MOKAS in case of suspicion of money laundering or terrorist financing or in other cases prescribed by law and the policies of the Company;
• Cooperate and communicate with the Supervisory Authority;
• Consult and advise, ensure involvement of the AML Compliance Officer within the Organization on new processes and new products/features as required by applicable laws and regulations related to AML/CTF;
• Establish and execute the control plan of the AML Compliance Officer to ensure compliance with established policies and procedures and/or regarding the areas where the operation of AML/CFT, sanctions controls should be implemented or improved and the appropriate suggestions of improvements;
• Provide information to the management about the level of exposure to the ML/TF and sanctions risks, and the measures taken or recommended to reduce and effectively manage these risks;
• Prepare and submit annual/frequent reporting to the management regarding the activities/duties of the AML Compliance Officer;
• Informing the management of any serious or significant AML/CFT, sanctions issues and breaches and recommending actions to remedy these;
• Perform any other duties and obligations related to compliance with the requirements of the applicable AML/CFT laws and regulations and the policies of the Company;
• Develop and maintain an ML/TF risk assessment for the Company and individual ML/TF risk assessments;
• Keep up to date with regulatory requirements and guidelines and assist with updating company procedures and polices where necessary, to ensure continued compliance;
• Provide compliance consultation on AML/CFT topics towards potential and existing clients of the Company. This may vary from general AML/CFT topics but also include operational aspects for the implementation of AML/CFT policies and procedures.

Candidate profile

• From 3 years working experience as an AML Compliance Officer or similar is a must.
• A University degree and/or Master degree in a related field and/or alternative education through vocational training in a related field is required.
• Holder of the Compliance Certificate as requested by the Cyprus Bar Association.
• Knowledge of the AML/CFT laws and regulations in Cyprus, Europe, including applicable guidelines, good practice in these fields is absolute essential.
• Familiar with the goAML reporting tool of MOKAS.
• Familiar with the AMLex365 software of the Cyprus Bar Association.
• Knowledge of Zygos AML solution is considered to be an advantage.
• Excellent written and verbal communication skills in English are required.
• Knowledge of Greek language is considered an advantage.
• Strong business communication skills.
• The ability to manage, collect, systematize, summarize information and draw conclusions.
• The ability to plan and organize work independently.
• Good analytical capacity. The ability to make decisions within the sphere of competence, to argue and present the position.
• Good skills to focus on complex situations, skills to get the things done, skills to use theoretical knowledge and experience in practice.
• Continuous professional development, using information technologies, self-education, developing professional skills and knowledge.
• Highly energetic, an agreeable personality and a team player.
• Attention to detail and outstanding organizational and multitasking abilities.
• Able to work under strict deadlines.
• Computer literate and proficient in MS Office.

Vacancy benefits

• An attractive remuneration package will be offered to the successful candidate considering qualifications and experience.
• Friday afternoons off.
• Smart casual Fridays.
• Opportunities for career development and the ability to progress.
• Continuing learning opportunities with on-going training sessions both internally and externally.
• Participation in provident fund scheme.

Application process

Interested candidates are requested to send their applications enclosing a detailed CV to the following email address [email protected] including the subject description “AML Compliance Officer vacancy”.

The company will communicate only with individuals that have been shortlisted for the position.

All applications will be treated in strict confidence.