Head of Compliance (Cayman Islands)

Purpose of the job

The local Head of Compliance will cover all areas of statutory and regulatory compliance in the Cayman Islands. Responsible for the development of local policies and procedures to improve services and to ensure they are followed, monitored and reviewed with the objective of always providing services of the highest standard and quality and any other such activities as may be required by the role. To work alongside Group Risk & Compliance to ensure that the group’s minimum compliance standards are achieved and, where a high standard needs to be applied, ensure that compliance with local regulations are achieved. 

Main Responsibilities

• Designated Anti-Money Laundering Compliance Officer for Ocorian Trust (Cayman) Limited and Ocorian Law (Cayman) Limited (collectively known as Ocorian Cayman) 
• Money Laundering Reporting Officer for Ocorian Cayman
• Lead the execution and enhancement of the compliance programme for Ocorian Cayman in line with Ocorian Cayman’s risk appetite
• Advisor to Ocorian Cayman and the board of directors, executive committee of directors, risk committee, managers, and employees on issues of compliance, regulation, risk management, corporate governance, areas of best practice and internal policies and procedures 
• To be responsible for the day-to-day management of the internal compliance team and effective management of workloads 
• Have an excellent understanding of the exposures to regulatory risk within a financial services organisation 
• Provide guidance and on-going training to Ocorian Cayman and specialised training to the internal compliance team, cross training and development and ensuring cover where necessary 
• Ensure file reviews and audit checks are completed within service level agreements 
• Business acceptance – prepare summary of proposed business transactions to present to the relevant sub-committees of the board 
• KYC/Customer Due Diligence (CDD) analysis and advice 
• Identify, draft, and update local policies and procedures as required based upon Ocorian Group’s minimum standards 
• Ensure systems are in place for compliance monitoring 
• Oversee the maintenance of a variety of standard compliance registers 
• Responsible for the relationship with any local regulatory body 
• Ensure the compliance monitoring programs are fit for purpose and that monitoring activity is conducted on schedule in accordance with the compliance monitoring plan for Ocorian 
• Act as a subject matter expert on regulatory matters and financial crime detection and prevention requirements
• Design and deliver training on various aspects of regulations, internal policies and procedures, corporate governance, compliance and risk management, basic anti-money laundering provisions 
• Attend management meetings
• Draft and present reports on various compliance and regulatory matters 
• Attend seminars and conferences to ensure knowledge of applicable regulations is up to date 
• Promote a positive compliance culture at all levels throughout the business 
• Principal contact for the Cayman Islands Monetary Authority