Business Control Officer at Stonehage Fleming

OVERALL PURPOSE

• To provide practical assistance, support and advice to Relationship Managers associated with trusts, companies administration and trustees on compliance related matters and as far as permissible by regulation, assume the responsibility for all interaction for ‘First Line of Defence’ and for liaison with Risk and Compliance where required.

PRINCIPAL ELEMENTS & ACCOUNTABILITIES
Working with Relationship Managers, Relationship Manager assistant and Business Heads to build and strengthen the relationship with Risk and Compliance 
In respect of compliance matters, to act as the First Line of Defence for the Relationship Managers and Business Heads and as their liaison with the Second Line of Defence, i.e. Risk and Compliance Compliance and occasionally with Audit on the Third Line of Defence. This includes client risk reviews, such as: 

• Review and manage any records relating to conflicts of interest, breaches, complaints and operational incidents
• Record and monitor exceptions, recommendations and any other regulatory matters requiring resolution
• Prepare new (i.e. 120 days review) / existing (i.e. AML file review) periodic risk review and approve where required. This includes seeking additional information and documentation when not provided, obtaining KYC/CDD
• Report any material risk matters to Risk and Compliance and assisting in addressing and mitigating
• Undertake RiskScreen checks and Google searches, periodic review and transaction monitoring on clients
• Provide effective training /refresher training to Relationship Managers and business heads on compliance and AML/CFT matters, and assisting with new employee inductions and ongoing staff development
• Review and develop the technical and compliance skills of Front Office employees to ensure they meet both the current and future needs of the business
• Assist the Relationship Manager through their AML review and performing the Risk Screen pro checks
• Work in collaboration with the Relationship Manager to ensure that the New Business Approval Committee and the on-boarding workflows are correctly updated, profile properly captured, risk assessment conducted and proper CDD collected. Coordinate with regional BCOs in respect of cross border business. 
• Ensure that the Data Base is updated where any EDD/SDD is applied or if any PEP/EP connection is identified at the time of on-boarding or during the lifecycle of the client. Being able to extract any report on these items upon request by the Regulator and/or Risk & Compliance
• Support the relevant regulatory board(s) in the collation of all data required in relation to the submission of information for the purposes of jurisdictional regulatory data requests 
• Maintain and streamline the Front Office section of the Hub, ensuring all processes, guidance notes and policies and procedures are available and kept updated
• Consider the impacts of new and existing laws, regulations, and compliance and other risks and their advised effects on Middle Office policies, procedures and processes. Inform relevant business heads and operation heads of such changes
• Liaise with Group Head BCO’s in any cross border AML/CFT issues / suggestions for improvement to Group AML/CFT processes
• Attend the monthly Center of Excellence BCO meeting

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