EY Anti -Money Laundering Reporting Officer- Associate Director- 

Bermuda 

871724353

Specific Tasks:

• Keep up to date with legal, regulatory and industry practice
• Maintain guidance in the Money Laundering and Financing Terrorism Policy Manual and in GTAC
• Develop training WBLs and supplemental training documents as needed; keep up to date and make available to new-hires and existing personnel at appropriate opportunities; monitor and report on compliance with training requirements; communicate important developments as they occur
• Provide general consultancy and helpdesk service for matters involving money laundering or terrorism financing
• Receive suspicion reports from members of the firm; obtain further information as necessary to assess whether reportable; advise on client relationship implications including tipping off considerations; liaise with parent client teams in other EYG firms as appropriate; submit SARs to regulatory agencies; obtain confirmation, document and maintain case files
• Maintain registers of suspicion reports received from members of the firm, SARs filed with regulatory agencies, and inquiries received from law enforcement or regulatory agencies
• Monitor GTAC developments for integrity and adequacy of identification and monitoring procedures required by money laundering / terrorism financing regulations; contribute to question management system enhancements
• Respond to GTAC queries regarding non-compliance with identification procedures and advise on achieving compliance
• Monitor GTAC notifications of higher risk clients and engagements; review “not met client” cases for normality or follow up; review other cases for real risk and monitor progress after acceptance; maintain register of higher risk clients other than routine “not met client”
• Monitor results of GTAC testing for implications for compliance with policies and procedures
• Periodic risk review of the business to ascertain continuing appropriateness of procedures and guidance; identify any areas of higher risk and amend approach/procedures as necessary
• Monitor retention policies for client files, GTAC records, etc. to maintain compliance with money laundering / terrorism financing laws and regulations
• Compile statistics of suspicion reports and GTAC exceptions
• Conduct an annual review assessing the operation and effectiveness of the systems and controls in relation to compliance with money laundering / terrorism financing laws and regulations, including testing of transactions with emphasis on high-risk areas; prepare annual MLRO report to include the results of the review and related issues
• Act as primary point of contact on money laundering matters for law enforcement or regulatory agencies, other firms, etc., including managing regulatory inspections and other enquiries or requests for information
• Coordinate and ensure timely filing of annual Proceeds of Crime Law (POCL) compliance confirmation with CIMA, due every January 31
• Receive notification of sanctions update from the regulators and monitor compliance with various sanctions regimes, including ensure appropriate approvals are in place for sanctioned individuals or entities if applicable.
• Regularly update the Board on all compliance manners, including coordinating Board approval for required Compliance matters

To Qualify for this role, you must have:

• Bachelor’s degree or equivalent work experience
• At least 10 years of experience within risk management, legal, anti-money laundering, compliance, audit or similar functions, preferably within the financial services sector
• Effective communication skills, both written and oral on financial crime matters
• Ability to liaise and communicate with the local regulator and law enforcement agencies/authorities as required, including providing management with an assessment of the results of such dialogue with those parties
• Ability to be flexible and approachable, to work as part of a team, both within Bermuda and across jurisdictions

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