Compliance Officer - Trust and Funds SME

DESCRIPTION OF THE BUSINESS LINE OR DEPARTMENT

The role of the Deputy Fiduciary and Funds SME is to be part of the Compliance, Anti-Money Laundering and Financial Crime Team (“CAFC”) that provides direction and support to the SGKHG CAFC Teams in these specific activities.  These activities are across Global Businesses, Global Functions, and jurisdictions within the second line of defence to obtain reasonable assurance to ensure that the business is operating in line with relevant laws, regulations, codes and SG and SGKH Group Standards.

SUMMARY

• To support the Compliance Officer(s), MLRO(s) & MLCO(s)  for the Trust Company and the affiliated entities; the Funds Service Business and the regulated Funds to ensure that the Fiduciary and Funds businesses in the Channel Islands remain compliant with all relevant laws, regulations, legislation and best practice.
• To assist the Compliance Officer(s), MLRO(s) & MLCO(s) for the Trust Company and the affiliated entities; the Funds Service Business and the regulated Funds to perform their duties for the Trust Company and Funds Services businesses.
• To work alongside the Head of Channel Islands CAFC, the Group Head of AML Financial Crime and the Group Head of Compliance other CAFC colleagues to provide guidance to management and staff of SGKH and SGTA so that the business remains compliant with all relevant laws, regulations, legislation and best practice.
• To support the Compliance Officer(s), MLRO(s) & MLCO(s)– Trust and Funds as a contact point for all Fiduciary and Fund matters with SG PRIV Head Office (SGPBHO) and internal stakeholders.
• The regulatory environment is ever changing and, therefore the role requires a pro-active and innovative approach to risk management.

RESPONSIBILITIES

• Form part of the CAFC function that will provide support on Fiduciary and Funds projects across the SGPBHG lines of businesses, functions and jurisdictions in order to obtain reasonable assurance that the project implementation is in line with the relevant laws, regulations, codes and SG/SGPBHG standards within Regulatory Compliance.
• To act as the Deputy Compliance Officer, Deputy MLRO & Deputy MLCO within the Trust and Fund business to ensure that disclosures to the relevant Financial Investigation Unit are submitted in a timely manner.
• Oversee the reviewing of new account files to ensure client take-on procedures are being met.
• Assist with performing compliance and AML monitoring for the Channel Islands (including maintaining compliance registers and logs.)
• Assist with performing fund specific compliance monitoring programmes and writing relelvant reports.
• Foster a positive culture of compliance by working proactively with the Trust and Funds business lines to ensure that best practices are followed in accordance with the applicable laws, rules, regulations, and internal policy.
• Serve as a team point of contact and provide compliance support related to Trust and Funds across business line/global function/SG PRIV HO, and to applicable CAFC functions.
• Work with Senior Management and project stakeholders to ensure the successful implementation of projects/Group policies related to Trust and Funds                                          
• Assist on new and or revised business strategies, initiatives, and projects, which may include assisting businesses in assessing the risks associated with new/revised strategies and recommending and or assessing mitigation efforts to reduce risk exposure.
• Assist as required in advising business units on the development of action plans to implement new or changed requirements for the Trust and Funds businesses. Action plans may include the development of or changes to existing training materials, policies, procedures, system, and other controls, monitoring/testing processes, and reporting.
• Support SGPBHG CAFC Team Senior Management in ensuring all reporting and adhoc information request in respect of Trust and Funds from SG Group are completed within timelines.
• Support the monitoring of regulatory development and engagement trends in respect of Trust and Funds and provide updates and reporting as appropriate / required.
• Liaise with the relevant Internal Audit, and with control functions (e.g., Finance, Credit, HR, CEO Office, Tax and InfoSec etc), in relation to Trust and Fund compliance matters including the provision of technical support and guidance when required.
• Support technical excellence by searching out external best practice, monitoring technical and professional developments, sharing knowledge and encouraging others to do the same in the best interests of SGPBHG and its customers.
• Develop and recommend changes and improvements to operating models, procedures and practices based on subject matter expertise and understanding and market best practice.
• Communicate and adhere to SGPBH policy and procedures in order to ensure good operational, financial and project management, policy and procedural compliance and early identification and effective resolution orescalation of issues that arise.
• Contribute to the development, implementation and maintenance of a CAFC management information, analysis and reporting framework that supports and informs timely and effective business management and decision making at all levels.
• Contribute to the implementation and monitoring of the application of CAFC policies, governance frameworks, procedures, practices and standards to ensure quality, effective risk management and regulatory compliance.
• Escalating any identified potential weaknesses in the current systems and controls within SGPBHG in respect of Trust and Funds;
• Perform all duties in accordance with the principles outlined in the SGPBH Code of Conduct, as well as the policies and procedures relevant to your responsibilities, to ensure that you adhere to a culture that treats clients fairly and focuses on the long term sustainability of client relationships

LEVEL OF AUTONOMY AND AUTHORITY

Make decisions on a day to day basis and determine when decisions need to be escalated to Senior CAFC staff.