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Our client is one of the most prominent global asset management firms, one of world's largest publicly owned firms in this area with employees in over 30 countries throughout the U.S., Europe and APAC.
Main Purpose of the Role:
The primary role of the compliance function is to assist senior management in managing effectively the compliance risks faced by our Client. Compliance risk is defined broadly as the risk of legal or regulatory sanctions, material financial loss, or loss of reputation a company may suffer as a result of its failure to comply with laws, regulations, rules, related self-regulatory organization standards, and codes of conduct applicable to its activities.
In the EU, local regulation requires the appointment of a Compliance Officer. Such an appointment is also in line with requirements stated under MiFID, due to come into force across the EU in November 2007. The Compliance Officer will have compliance oversight responsibilities for our Client's legal entities in Romania and at various times to support compliance oversight of other European and company's entities. The Compliance Officer role will also perform the role of Risk Manager in the local jurisdiction.
The Compliance Officer is responsible for assisting senior management to ensure each entity adheres to and operates within its specific license requirements, as well as the ongoing regulatory compliance obligations of local regulatory bodies.
This role will include carrying out compliance duties across Europe under the direction of the UK Compliance Officer.
In general, the role of Compliance Officer carries the following responsibilities:
Advice
Advising senior management and staff on the practical application of compliance laws, rules and standards, including keeping them informed on developments in the area, coordinating and consulting with the Legal Department, as necessary.
Training and education
Assisting senior management in educating staff on compliance issues, acting as a contact point for compliance queries. To this end, the Compliance Officer should assist the UK Compliance Officer, in co-ordination with the Regulation and Training Manager EMEA, establish an appropriate Compliance Training Program for staff, in addition to requisite written compliance policies and procedures.
Compliance risk assessment
On a proactive basis and in co-ordination with the UK Compliance Officer, identify, document and assess the compliance risks associated with our Client's activities in Europe. This should include, amongst other things, the development of new products or business practices, the proposed establishment of new types of business or client relationships, or material changes in the nature of such relationships.
Compliance monitoring
In co-ordination with the Best Practice Team Manager assist the UK Compliance Manger to establish an appropriate Compliance Monitoring Program for the Romanian business, the results of which must be reported to local senior management and the UK Compliance Officer.
Regulatory responsibilities and interface
In co-ordination with the UK Compliance Officer act as the interface with the Romanian regulators (and if applicable, local industry bodies), establishing and developing relationships for the strategic benefit of the local operations and providing reporting, where necessary. Further, the Compliance Officer should act as the local money laundering reporting officer, or equivalent.
Compliance program
In co-ordination with the UK Compliance Officer establish a written, risk-based Compliance Program that sets out the all of the above compliance responsibilities and details their fulfillment in a planned and organized manner.
A degree in a relevant discipline from a recognized university
Fluency in written and spoken English
Computer literacy in key applications such as Microsoft Office
At least 5 years industry experience, preferably in a similar role
KEY DUTIES & RESPONSIBILITIES:
Compliance risk assessment
Compliance monitoring
Regulatory responsibilities and interface (including reporting and keep abreast of developments)
Advice(including review of marketing materials)
Compliance training
Establishing and maintaining the Compliance Program
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