Chief Risk and Policy Officer
Reporting to the Deputy Head of the AMLD, the Chief Risk and Policy Officer will assist with conducting risk assessments and developing supervisory engagement plans in coordination with supervisory divisions i.e., to conduct off-site monitoring and on-site examinations across all business lines and industries of CIMA’s licensees and registrants for AML/CFT/CPF oversight. The Chief Risk and Policy Officer conducts research on AML/CFT/CPF international regulatory developments relating to financial services and will participate in developing regulatory instruments to assist CIMA in fulfilling its regulatory functions.
RESPONSIBILITIES:
The successful candidate will:
- Lead and participate in the collection and analysis of AML/CFT/CPF relevant data from regulated entities;
- Participate in conducting sectoral and institutional ML/TF/PF risk assessments and thematic reviews;
- Coordinate with the Supervisory Divisions and the On-Site Inspection Unit (“OIU”) to conduct risk reviews of regulated entities and draw supervisory engagement plans for conducting on-site inspections and off-site monitoring;
- Coordinate with the Compliance and other supervisory divisions in identifying and analysing emerging ML/TF risks, and developing ML/TF case studies and typologies;
- Collaborate with the Policy & Development Division and other divisions of CIMA to participate in surveys and preparatory work for reviews of the jurisdiction’s framework for AML/CFT/CPF supervision by international standard setting bodies;
- Assist the Division’s Head and Deputy Head with the development of and enhancement to AML/CFT policies, procedures and guidance;
- Assist the Division Head and Deputy Head in reviewing and updating the Authority’s risk assessment methodology to align with the international standards and address the emerging ML/TF/PF risks;
- Participates in internal and external working groups relating to the development of regulatory measures or legislation;
- Assist with consultative meetings with the private sector on proposed regulatory approaches, frameworks and amendments;
- Provide on the job training to assigned team of senior analysts or analysts in applicable laws, guidelines, policies and processes; and to other staff of the Authority;
- Monitor industry trends as they relate to money laundering/ terrorist financing/proliferation financing risks;
- Prepare and deliver or assist with internal/external presentations, outreach and training on emerging ML/TF/PF trends, new regulatory measures and other AML/CFT matters;
- Ensure the development and maintenance of procedure manuals for the Division or other Divisions across the Authority; and
- Assist with preparing submissions to the Caribbean Financial Action task Force or any other international standard setting bodies as a response to their evaluations of the AML/CFT supervisory regime of CIMA.
REQUIREMENTS:
- A Bachelor’s degree in Economics, a finance-related area or Law; and five years’ experience in a relevant position, a senior supervisory post and preferably from within a financial service provider in internal audit, AML/CFT Compliance, or AML/CFT/CPF Risk Management, or supervisory/regulatory environment;
- Anti-Money Laundering and/or Fraud Prevention & Detection accreditation is required;
- A qualification in risk management would be an asset;
- Significant Knowledge of AML/CFT/CPF legislation including the Proceeds of Crime Law & Regulations especially in the Cayman Islands;
- Strong research, analytical, and report writing skills and the ability to assess the implications of domestic and international developments on existing laws and policies;
- Proven project management skills to lead the development of regulatory measures, research papers, internal procedures and other policy documents for the Division;
- Self-starter and demonstrated ability to work independently to advance projects;
- Significant knowledge in AML/CFT/CPF international standards and best practices;
- Comprehensive skills to conduct ML/TF/PF risk assessments and analyze the operations of financial institutions;
- Significant knowledge of emerging supervisory techniques, ML/TF trends, and up-to-date knowledge of domestic and international financial and economic events;
- Significant knowledge in monitoring international targeted financial sanctions compliance;
- Proven ability to deliver draft documents or final outputs with accuracy and within established timeframes;
- Excellent policy writing, communication and presentation skills; and
- Proficiency in all Microsoft Office applications, such as MS Word, Excel, and PowerPoint.
Direct applicants only. Applications received from agencies will not be accepted at this time.
(Only shortlisted candidates will be notified)
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