Our global law firm client has an exciting new opportunity for a Compliance Specialist (AML) join their London office on a permanent basis. The Compliance Specialist will be a key member of the London based Compliance Team who are responsible for all aspects of law firm compliance, including managing the firm's anti-money laundering (AML) process, client verification, risk assessments and on-going monitoring.
Typical responsibilities include, but are not limited to, the following:
- Maintain compliance with the firm's AML PCPs in line with the Money Laundering Regulations 2017, as amended and updated.
- Revise and update the firm's existing PCPs based on applicable legislation and developing guidance.
- Assist with regular independent audits and the design and implementation of appropriate audit improvement plans.
- Remain up to date with and monitor legal and regulatory developments in AML compliance (including sanctions screening)
- Ensure that new clients, new matters and third-party payers comply with the requirements of applicable AML legislation and the Firm's PCPs;
- Conduct client due diligence research and PEP and sanctions screening using various third-party databases and web-based research.
- Obtain information on and analyse source of wealth and source of funds.
- Review, interpret and risk assess the results of the research and complete client and matter risk assessments.
- Manage on-going status monitoring and report internally as required.
- Work closely with Team colleagues, lawyers, secretaries, the Compliance Team in Asia, the General Counsel Team in New York and the Firm's MLRO.
- Respond to and communicate with partners, fee earners and staff at all levels relating to the interpretation of relevant legislation, regulation and the firm's PCPs.
- Has the gravitas, understanding and patience to explain AML related requirements to overseas colleagues who may be unfamiliar with client due diligence and risk assessments.
- Work with the Finance Team to ensure that adequate checks are conducted in connection with funds received into the firm's accounts.
- Act as a first point of escalation and ensure enquiries about AML compliance are managed in a timely and efficient manner.
- Gain a detailed understanding of the firm's Aderant new matter workflow so as to be able to respond to queries about this from all levels of staff.
- Provide input into other AML related compliance-based projects, as required;
- Work with the Compliance Assistant on their day-to-day AML related work; provide support and monitoring for their development.
The ideal candidate for the Compliance Specialist (AML) role will have solid AML compliance experience within a law firm, ideally with exposure to international offices. You must be an enthusiastic self-starter with highly effective communication skills and a strong client service ethic. The ability to build strong and effective relationships across the business is essential, as is excellent organisational skills and attention to detail.
If you meet the above criteria, then please contact Ryder Reid Legal today for a confidential discussion.