Head of Compliance (PCF-12 & 52)

About Waystone  

Waystone is a leading asset-servicing solutions provider of institutional governance, administration, risk and compliance services to financial institutions. With over 25 years’ experience and a comprehensive range of specialist services to its name, Waystone helps our clients structure, operate and grow through our expertise, innovation and digitisation, backed by the operational scale to support global expansion.

Role: Director – Head of Compliance (PCF-12) and Head of Anti-Money Laundering and Counter Terrorist Financing Compliance (PCF-52)

• Maintaining an effective compliance framework such that the Firm can operate in a compliant manner.


• Maintaining a compliance monitoring programme that takes into consideration all areas of the Firm’s activities. The monitoring programme should establish priorities determined by the compliance risk assessment ensuring that compliance risk is comprehensively monitored.


• Regularly performing a compliance risk assessment to enable a risk-based approach when determining the scope of the monitoring programme.


• Ensuring the Firm maintains adequate policies and procedures to ensure compliance with the firm’s legal and regulatory obligations.


• Acting as the firm’s PCF-52 Head of Anti-Money Laundering and Counter Terrorist Financing Compliance, with responsibility for oversight of the firm’s AML/CFT framework, policies, procedures, controls and governance arrangements.


• Ensuring the AML/CFT control framework remains appropriate to the nature, scale and complexity of the firm’s business, including customer due diligence, enhanced due diligence, ongoing monitoring, sanctions screening, suspicious transaction/activity escalation, record keeping and AML/CFT training.


• Overseeing the AML/CFT business risk assessment and ensuring that AML/CFT risks are identified, assessed, monitored, mitigated and reported through appropriate governance channels.


• Escalating material AML/CFT matters, control weaknesses, breaches, regulatory correspondence, suspicious activity concerns and remediation actions to senior management, the Board and relevant committees, as appropriate.


• Continuously monitoring regulatory developments affecting the Firm, analysing relevant regulations, and assisting with their implementation.


• Addressing communications and guidance from the CBI in respect of compliance and regulatory matters.


• Ensuring all regulatory and legal filings are made on time including to the CBI and other competent authorities.


• Guiding and educating the Firm’s management and staff on compliance matters and updating knowledge on recent regulatory changes.


• Attending the Firm’s Board of Directors and Risk Committee meetings, as relevant, to present findings and recommendations arising from the Compliance Monitoring Programme, updates to existing policies, new policies and other pertinent regulatory matters.


• Providing regular AML/CFT reporting to the Board and Risk Committee, including key AML/CFT risks, monitoring outcomes, training completion, regulatory updates, material issues and progress against remediation plans.


• Conducting or directing the internal investigation of compliance issues.


• Maintenance of internal checklists and templates.


• Assisting with staff development, workload management and people management.


• Contribute to the work of the Group Compliance Function and assist in efforts to create consistency and efficiencies across the Group Function.


• Represent the Compliance Function on external and internal working groups and committees, as required.

REQUIREMENTS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Experience

• Detailed understanding of fund administration company operations.


• Minimum of 10 years’ compliance / regulatory experience in a regulated financial services business in the investment management industry; experience with administration companies would be beneficial.


• Strong knowledge of Irish AML/CFT legislation, Central Bank of Ireland AML/CFT expectations and the practical operation of AML/CFT controls within a regulated financial services or fund administration environment.


• Excellent interpersonal and management skills.


• Clear analysis and expression, both written and verbal.


• Must meet the minimum requirements of the Central Bank of Ireland fitness and probity rules in respect of PCF-12 and PCF-52 roles.

Education

• Third level degree.


• A recognised professional qualification in Compliance, AML/CFT, Financial Crime or Regulatory Risk, such as the Professional Diploma in Compliance (IOB), ICA International Diploma in Governance, Risk and Compliance, CISI qualification, or an equivalent designation from a recognized professional body

Note: The proposed individual to be appointed to this role is subject to the approval of the Central Bank of Ireland.