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Deputy AML/Compliance Officer, Frankfurt

 

Deputy AML Officer and Head of Account Opening

Reporting to the Chief Operating Officer, the Deputy Anti Money Laundering (AML) Officer and Head of Account Opening is responsible for assisting in identifying, monitoring and managing AML risks and overseeing the Account Opening function.

Duties & Responsibilities

Deputise for AML Officer when required, including attendance at Risk Committee meetings.

  • Aid in the preparation of key metrics for presentation to Committees and Board.
  • Foster ongoing relationship with regulatory and legal authorities, in particular the Zentralstelle für Finanztransaktionsuntersuchungen / Financial Intelligence Unit.
  • Ensure the maintenance of effective and efficient interaction with the regulators and relevant authorities.
  • Assist in the co-ordination of regulatory and legal AML enquiries, and supervisory visits.
  • Keep up-to-date with the current and planned regulatory AML initiatives and matters of interest that have a material or relevant impact on the firm.
  • Assist in identifying key regulatory and operational AML risks.
  • Advise and assist business units and IT/Engineering in the development and testing of new AML and Account Opening systems and controls.
  • Partner with business units and IT/Engineering in the development and testing of new AML and Account Opening systems and controls.
  • Advise and assist Account Opening Team to enhance their policies and procedures to reduce and/or mitigate against AML operational risks.
  • Periodic AML risk analysis reviews and assessments.
  • Assist with the planning, development and implementation of an appropriate AML and Account Opening Strategy that complements the firm’s overall strategy.
  • Advise, monitor and assess compliance with AML related regulatory obligations.
  • Monitor and assess the effectiveness of AML and Account Opening systems and controls, in line with regulatory requirements, and implementation of any remediation for failings.
  • Maintain a thorough understanding of relevant regulatory and legal requirements to provide AML and account Opening advice and guidance across the firm.
  • Point of contact for AML and Account Opening related escalations and enquiries.
  • Promote, enhance and embed a strong AML compliance culture across the firm.
  • Provide regular training to employees on AML matters, including internal policies and procedures, the application of standards and guidelines, and relevant laws and regulatory requirements. 
  • Maximise ‘client on-boarding’ in terms of meeting legislative and regulatory requirements and commercial needs, in the most effective and pragmatic manner.
  • Lead, manage and develop direct reports.

Skill Requirements

  • Written and verbal communication in German and English
  • Positive attitude and initiative
  • Pragmatic problem solver and solution finder
  • Leadership
  • Teamwork
  • Decisiveness
  • Time management
  • Flexibility
  • Sense of humour
  • AML laws, rules and regulations

Experience/Qualifications

  • Relevant degree
  • 3-5 years AML and Account Opening experience in the retail financial services sector
  • Management and leadership experience.
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