Role summary
IQ EQ Group (“IQ EQ”) is committed to maintaining the highest levels of legal and ethical standards in the conduct of its business and places the highest importance upon its reputation for compliance with all applicable laws and rules, and for honesty and integrity.
The overall goal of the Group Risk & Compliance (GRC) function is to protect the Group brand and to support the successful execution of the Group’s business strategy through the delivery of an integrated risk and compliance programme across the Group. GRC aims to support the Board and senior management to fulfil their statutory and regulatory obligations, by helping to ensure compliance with the laws, regulations, principles and codes established by our regulators, and more generally by supporting the effective and continuous development and operation of the Group’s risk management framework.
The Manager, Group Financial Crime Compliance role reflects and supports the Group’s continued commitment to combatting financial crime. The role holder is responsible for working with the Senior Manager, Financial Crime Compliance (SMFCC) in a small team within the GRC function dedicated to the development and ongoing maintenance of the Group’s Financial Crime Compliance (GFCC) and Risk Management Programmes, reflecting the importance that the Group places on Financial Crime compliance and Risk Management, and in light of the Group’s continued expansion.
The roleholder is responsible for supporting the SMFCC in ensuring that robust Financial Frime Compliance and Risk Management measures are in place at a Group level and for helping to ensure that employees are aware of the Group’s Financial Crime prevention obligations.
The role holder reports to the SMFCC and works closely and collaboratively with key stakeholders, including Financial Crime Officers across the Group, to drive best practice across the Group in all matters Financial Crime related.
Principal responsibilities
Responsibility
Support the FCC Function in maintaining the Group’s Financial Crime (“FC”) Risk Management and Compliance Programmes in relation to the following financial crimes –
- Money Laundering;
- Terrorist Financing;
- Proliferation Financing;
- Economic & Financial Sanctions;
- Bribery and Corruption;
- Fraud; and
- Tax evasion
Principal activities
- Maintain Group FCC standard lists e.g. that relate to Approved Regulated Markets, to support the business to comply with Group requirements
- Maintain Group FC Registers and track action required to address any emerging risks with the relevant jurisdictions e.g. that relating to –
- High Risk Country exposures
- Declined and Exited Business
- Undertake periodic reviews of the Group’s FC Policies and Procedures, ensuring that they continue to reflect key regulatory requirements and industry best practices
- Maintain the GFCC Policy and Standards Register and ensure all documents are updated to meet deadlines set
Provide assurance on the status of the Financial Crime Programmes, including (but not limited to) –
- Compliance with existing and upcoming regulatory requirements;
- The effectiveness or otherwise of current FC risk prevention standards, practices and controls;
- The identification of new and emerging FC risks, new methodologies etc.; and
- The management of known FC issues and exposures.
Principal activities
- Run and analyse system reports to identify FC related issues
- Draft regular reports for the Group Management Team, Regional CEOs and Group Risk and Compliance Committee
- Oversee ongoing screening across the Group ensuring screening Group Minimum Standards are met for timely clearance of possible matches
- Oversee Very High-Risk PEPs across the Group ensuring PEP Group Minimum Standards are met
- Support SMFCC with the oversight of High-Risk country exposure.
- Undertake screening searches on target entities as part of the acquisition due diligence process and escalate items of concern to SMFCC
Promote the culture and practice of Financial Crime Compliance and Risk Management helping to ensure that, among other things
- All staff are aware of the Group’s zero tolerance approach to FC and understand the role they play in combatting it;
- The Group is aware of the FC risks it faces; and
- The Group’s minimum FC standards and controls are well known throughout the business and embedded in practice
Principal activities
- Update eLearning training modules
- Manage the GFCC mailbox and ensure emails are picked up timely, escalated where required and appropriately filed
- Arrange Financial Crime Network Team calls, prepare packs and follow up on actions arising
- Actively present material in Financial Crime Network calls and other forums
- Prepare internal alerts/blogs on key FC related developments
