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Associate Director - Compliance/AML

waystone

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About waystone

  • Us Waystone is a leading provider of institutional governance, administration, risk and compliance services to the asset management industry.
  • With over 25 years’ experience, we support many of the world’s largest asset managers, providing a comprehensive range of specialist services from a global network of offices.

Responsibilities

  • SUMMARY The Associate Director leads compliance and Anti-Money Laundering (AML) advisory, AML Officer oversight and risk-based AML/CFT/CPF and financial sanctions governance programmes for assigned regulated entities.
  • The role leads full risk assessments, independent audit planning and delivery, Board reporting, regulatory engagement, remediation oversight, methodology development, quality review and team capability building.
  • All Waystone employees are expected to demonstrate the organisation’s core competencies and values and to perform their responsibilities with professionalism, integrity, sound judgement, accountability and a commitment to continuous learning.
  • DUTIES AND RESPONSIBILITIES COMPLIANCE, AML OFFICER AND CLIENT RESPONSIBILITIES Act as a subject-matter expert on investor AML and applicable regulatory requirements for jurisdictions and business lines supported by Waystone; Keep abreast of regulatory developments and advise the business and clients on obligations, risks and proportionate implementation; Design and maintain compliance policies, procedures, controls, monitoring programmes and training using relevant Group standards; Perform approved AML Officer appointments, including Anti-Money Laundering Compliance Officer, Money Laundering Reporting Officer and Deputy Money Laundering Reporting Officer roles, and discharge those responsibilities independently and objectively; Plan and deliver reporting to Group Compliance, Senior Management and Governing Bodies; Act as a senior point of contact for regulators, external investigations, due diligence reviews and data requests; Represent the compliance function at client meetings, internal and external working groups and committees; and promote a culture of compliance, governance, independence and ethical behaviour.
  • AML/CFT/CPF AND SANCTIONS GOVERNANCE AND RISK ASSESSMENT Lead development and continuous improvement of AML/CFT/CPF and financial sanctions governance frameworks for investment funds, securities investment businesses and other assigned financial service providers; Ensure governance frameworks link risk assessment, independent audit planning, audit execution, findings, remediation, Board oversight and subsequent risk-assessment updates; Own or lead the approved entity-level risk-assessment methodology, including inherent risk, control effectiveness, residual risk, risk appetite, overrides, trigger events and risk acceptance; Review and challenge customer or investor, beneficial ownership, geographic, product, service, portfolio, transaction, distribution-channel, outsourcing, targeted financial sanctions and proliferation financing risk assessments; Challenge the quality and currency of evidence supporting control-effectiveness and residual-risk conclusions, including third-party and delegate evidence; Approve risk-to-audit mapping and recommend risk-based audit priorities, scope and depth to the Governing Body; and present risk conclusions, material changes, risk acceptances and required actions to Governing Bodies and senior stakeholders.
  • BOARD, CLIENT AND REGULATORY REPORTING Lead preparation and senior review of Annual AML/CFT/CPF and Sanctions Governance Packages, independent audit reports, findings, management-action plans, regulatory mappings and prior-audit summaries; Present risk assessments, audit plans, audit conclusions, material findings and remediation priorities to Governing Bodies, senior management and clients; Ensure reports intended for Governing Bodies or CIMA are accurate, balanced, evidence-based and internally consistent and distinguish regulatory requirements from guidance, good practice and internal policy; Coordinate responses to regulatory inspections, thematic reviews, examinations, information requests and queries concerning audit scope, methodology, findings, remediation and supporting records; and maintain appropriate confidentiality, legal privilege, restricted access and information-security controls.
  • PEOPLE, METHODOLOGY AND BUSINESS LEADERSHIP Lead, mentor and review
  • Associates and Senior Associates engaged in risk assessment, audit delivery, governance reporting and remediation validation; Allocate work according to competence, independence, engagement risk, deadlines and quality requirements; Develop and maintain standard templates, audit workbooks, risk libraries, sampling guidance, quality-control procedures and training materials; Manage engagement planning, resourcing, budgets, workflow, client communication and quality review for assigned engagements; Contribute to service design, proposals, client education, internal capability building and cross-functional projects; and foster a collaborative, accountable, and high-performing team environment.

Requirements

  • To perform this role successfully, an individual must be able to carry out each essential duty to the required standard.
  • The requirements below are representative of the knowledge, experience, qualifications, and competencies expected for the position.
  • AND PROFESSIONAL QUALIFICATIONS A university degree in law, business, finance, accounting, governance, compliance, risk management or a related discipline is required; A recognised professional qualification in AML, compliance, audit, risk management, governance, accounting, law or financial services is required; CAMS is strongly preferred, and ICA, CIA, ACCA, CPA, Chartered Accountant, legal or equivalent professional designations will be considered favourably; and ongoing continuing professional development in AML/CFT/CPF, targeted financial sanctions, proliferation financing, audit, governance and risk management is required.
  • A minimum of six years of relevant experience in financial services, compliance, audit, governance, risk management, fund administration or a related regulated environment is required; Demonstrable experience leading AML/CFT/CPF and financial sanctions risk assessments, compliance monitoring, control reviews, internal audits or independent AML audits is required; Strong knowledge of Cayman Islands AML/CFT/CPF legislation, CIMA regulatory measures and Guidance Notes, financial sanctions and targeted financial sanctions requirements, proliferation financing risks, outsourcing and regulatory governance expectations is required; Experience developing audit plans, testing strategies and sampling methodologies, reviewing workpapers, grading findings, determining overall conclusions and presenting results to Governing Bodies or senior management is required; Experience supporting, coordinating or responding to CIMA inspections, thematic reviews, desk-based reviews, on-site inspections, regulatory examinations or information requests is strongly preferred; Experience acting as an Anti-Money Laundering Compliance Officer, Money Laundering Reporting Officer or Deputy Money Laundering Reporting Officer, or in an equivalent regulated compliance role, is preferred; Experience overseeing delegated AML/CFT/CPF activities and obtaining sufficient evidence regarding controls performed by administrators, investment managers or other service providers is required; Ability to exercise independent professional judgement, manage conflicts, lead multidisciplinary engagements, coach team members and deliver regulator-ready written work is required; Excellent Board, client, regulator and senior-stakeholder communication skills are required; and advanced proficiency in Microsoft Excel, Word, PowerPoint and document-management tools is required.