Fantastic new opportunity for an Compliance/ AML Manager to join the London office of a successful US law firm. The Compliance/ AML Manager will be responsible for managing the AML Team (currently comprising one Senior AML Analyst and one more junior AML Analyst, both based in London) and for compliance with the firm's AML obligations in England, France, Germany, Luxembourg and Hong Kong. The AML Team conducts client due diligence checks on all new clients of the European and Hong Kong offices of the firm and certain clients of the US offices. The team is also responsible for providing AML training to secretaries and other support staff.
The Compliance/ AML Manager works closely with the Assistant GCs/Directors of International Risk and Compliance, the MLRO and the COLP, as well as with the Finance team and the Conflicts team. The AML Manager should also be capable of developing the AML Team to deal with broader business intake issues, such as review of engagement letters (conflicts are dealt with separately), maintenance of insider lists, file reviews, advice in relation to diligence on third party payers etc., to meet the needs of the business as it expands in Europe and Asia.
Key responsibilities for the Compliance/ AML Manager will include:
- Perform client due diligence on new clients, particularly those which are high risk or otherwise complicated. Supervise completion of client due diligence checks by the AML Team.
- Perform PEP and sanctions searches as necessary on natural persons, collecting personal identification and storing securely. Supervise performance of these tasks by the AML Team.
- Support maintenance and development of the firm's AML policies and procedures, and provide guidance on an ongoing basis.
- Answer questions from partners, fee earners and staff at all levels relating to the interpretation of relevant legislation, regulation and firm policies pertaining to AML.
- Understand and ensure compliance with all relevant internal and external rules, regulations and procedures.
- Monitor new procedures, guidance and current best practice, including the Legal Sector Affinity Group guidance, Law Society guidance (in both England and Hong Hong), JMLSG guidance, FATF alerts etc.
- Advise Assistant GCs and MLRO on areas where AML controls should be improved.
- Maintain and update the firm's AML risk assessment annually.
- Recruit and train new AML Team members, as needed.
- Maintain insider lists for the firm in line with relevant legislation and regulations.
- Assist in the development, implementation and revision of written policies and procedures as necessary.
- Be proactive in the identification of risk, providing solutions to mitigate risks.
- Conduct thorough reviews of and track engagement letters.
- Work in conjunction with the COLP, COFA, Assistant GCs and Finance team to ensure the firm is compliant with all SRA regulations (and equivalent in other relevant jurisdictions). Undertake file reviews as directed.
- Assume additional risk and compliance responsibilities as requested.
The ideal candidate for the Compliance/ AML Manager position will have strong experience in AML compliance within a law firm environment, ideally with exposure to international offices. You must have detailed knowledge of the AML laws applicable in England and, ideally, in other European countries and Hong Kong. Excellent communication skills are a must, along with the ability to interact effectively with a broad range of people in a professional manner. You must have strong research skills, analytical skills and attention to detail. You must have experience using information sources such as Mint Global/Orbis, Companies House, Accuity, World Check, Capital IQ. You will have experience of leading a team and be able to use your initiative and judgement to accomplish results. If you meet the above criteria, then please contact Ryder Reid Legal for immediate consideration.