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HEAD OF COMPLIANCE, MLRO & FRAUD

SpotOn Connections Full-Time  Tas-Sliema, Malta 12 Jun 2018

Job Description


Job Description

The Head of Compliance, MLRO & Fraud will be responsible for Anti Money Laundering (AML) monitoring and sanctions screening for all EU booked activity across the company business and to provide Fraud/Chargeback and Compliance support across the merchant base while being responsible for the compliance to all MFSA regulatory requirements.

Scope of role:

  • The position will carry autonomy within defined parameters, and the post-holder will be encouraged to take responsibility for decision-making within the strategic plan framework.

Responsibilities:

  • Being the point of contact for and liaising with the regulators (the MFSA). This will include ensuring the company is compliant with all MFSA reporting requirements and reviewing all policies from an MFSA standpoint
  • Ensure compliance with all regulators, authorities and card scheme rules and regulations
  • Ensure the completion of all statutory returns (MFSA) and compliance reporting to the relevant regulators, authorities and card schemes are submitted in a timely manner
  • Monitor and review scheme bulletin notifications and cascade relevant changes and any potential impacts to the wider organisation where changes affect company systems, policies and procedures
  • The implementation of risk mitigation measures with direct contact with merchants to identify unusual financial pattern managed through the daily alerts
  • To update policies and procedures to cover the ever changing ways fraud can be committed
  • Identification of diversion of settlement funds pending further investigation and the subsequent management of those funds to cover chargeback liabilities
  • Monitor and review scheme interchange policies
  • Continued review of the KYC policies and procedures to ensure they are adhered to and are up to date
  • Prevent clients being boarded or being maintained that create money laundering/ Fraud or reputational risk to company’s Malta and the wider Group
  • Research and understand AML/Fraud typologies and then apply the characteristics to interrogate transaction data to identify unusual activity
  • Escalate unusual activity and present cases to the monthly risk committee
  • Reviewing and updating compliance and fraud policies and procedures on a quarterly basis
  • Formal MLRO status
  • Management of the Chargeback process including monitoring and reporting
  • Ensuring fraud tools are continually updated to manage the changing nature of the business
  • Identifying solutions for individual vertical segments of the company book
  • To represent company at fraud conferences and forums
  • Train company staff on fraud prevention measures
  • Preparation and escalation of credit monitoring alerts
  • Completion of Suspicious Activity Reports in accordance with regulatory and company policy compliance
  • Investigation case completion in accordance with policy and procedure
Requirements:
  • 5+ years of proven experience in a similar position within the same industry
  • Demonstrated skills in risk assessment. The ability to make sound decisions, including escalation when appropriate, in regard of AML or sanction risk.
  • Problem management skills. Strong interpersonal, presentation and organization skills
  • Ability to work in a culturally diverse company with a cross functional approach
  • Ability to lead by example and demonstrate leadership at all levels
  • Knowledge of card scheme interchange rates and regulations
  • Working knowledge of key regulatory /consumer bodies including: FSA, MLRO
  • Ensure the roll out of group policies, procedures, compliance manual and controls and report on non-adherence at the appropriate level where required.  This includes developing, implementing, promoting and maintaining compliance standards and procedures that enable employees to act in a compliant manner
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