A prestigious private bank in Luxembourg in its search for a Compliance Officer. Our client is renowned for delivering high-quality financial services while upholding the highest standards of compliance.
Position Summary:
The Compliance Officer will play a crucial role in ensuring adherence to Anti-Money Laundering (AML) regulations with a primary focus on client onboarding. This role requires a detail-oriented professional with strong compliance knowledge and analytical skills.
Key Responsibilities:
AML Compliance:
- Ensure compliance with AML regulations and internal policies.
- Conduct audits and reviews of client transactions to detect suspicious activities.
- Maintain and update AML policies and procedures in line with regulatory changes.
- Provide expert guidance on AML best practices and procedures.
- Collaborate with regulatory bodies and prepare necessary documentation.
Client Onboarding:
- Lead the onboarding process, ensuring all AML checks are accurately completed.
- Verify new client identities and conduct risk assessments.
- Manage and resolve any onboarding issues promptly and effectively.
- Ensure the timely and accurate completion of all necessary documentation.
- Work closely with the onboarding team to enhance process efficiency.
Training and Reporting:
- Develop and deliver AML training programs for bank staff.
- Prepare and submit comprehensive AML reports to regulatory authorities.
- Keep the team informed of updates to AML policies and regulations.
- Document all compliance activities and maintain accurate records.
- Foster a strong culture of compliance throughout the organization.
Collaboration and Regulatory Updates:
- Work closely with Legal, Risk, and Operations teams to ensure compliance.
- Stay updated on changes in AML regulations and industry best practices.
- Assist in developing and implementing compliance strategies.
- Promote a culture of compliance across all departments.
- Provide insights and recommendations based on regulatory developments.
Qualifications:
- Bachelor's degree in Finance, Law, Business Administration, or a related field.
- Minimum of 3-5 years of experience in a compliance role focusing on AML and onboarding.
- In-depth knowledge of AML regulations applicable in Luxembourg and the EU.
- Strong analytical and communication skills.
- Proficiency in compliance-related software and tools.
- Language skills in English essential, French, Luxembourgish and/or Dutch preferred.
If you could be interested, please reach out to Matthew Carton at Selby Jennings.
