Head of Division
Reporting to the Chief Executive Officer (“CEO”), the Head of Division (“HOD”), will oversee CIMA’s AML/ CFT/CPF risk-based supervisory strategy.
RESPONSIBILITIES:
The successful candidate will:
• Work closely with CIMA’s supervisory divisions to achieve a coordinated, robust and consistentapproach to supervision of regulated entities;
•Conduct Money Laundering/Terrorism Financing (“ML/TF”) risk assessments of licensees/registrants ofCIMA and thereafter monitoring and updating the entities’ risk profiles as necessary;
• Investigate and refer enforcement matters including administrative fines, where necessary, incoordination with relevant supervisory division(s) and compliance division; and
• Gather, analyse and maintain data, such as tracking entities’ ML/TF risks, compliance history andtrends and results;
• Monitor and manage the risk exposure of the Cayman Islands’ financial sector and makerecommendations to enhance the AML/CFT regime as necessary;
• Provide statistics to the CFATF and other standard setting bodies for the purpose of conductingassessments/evaluations;
• Assess and enhance AML/CFT related policies, procedures and guidance for both the Division and thewider CIMA;
• Keeping abreast of the ever-evolving AML/CFT international standards, and participating in revisingboth the CIMA and national AML/CFT strategies and regime as necessary and enhancing privatesector awareness of emerging ML/TF risks, trends and patterns through various forms of outreach andtraining;
• In collaboration with other Divisions in CIMA, oversee and monitor regulated entities through onsiteinspections and offsite monitoring, such as coordinating meetings with entities, desk based reviews,and other supervisory engagement;
• Ensure the development, coordination and implementation of learning programmes that deliver ongoing basic AML/CFT training to the Division and the Authority’s staff through coordinated CIMA widetraining events;
• Plan, direct, and delegate all projects and assignments of the Division to ensure that they are carriedout effectively and efficiently in accordance with the policies, procedures, and goals and objective ofthe divisions and CIMA;
• Evaluate and recommend staff complement requirements as part of CIMA’s annual staffing andbudget planning process, and participates in the recruitment and, selection process and successionplanning;
• Represent the Authority as a positive ambassador at onsite inspections, conferences, meetings andevents, presents information, brings back ideas, and makes recommendations to improve theregulatory regime and operations; and
• Build positive, cooperative relationships with licensees and other international regulatory bodies &agencies.
REQUIREMENTS:
• A Master’s degree from an accredited institution in Finance, Accounting or another relevant area ofstudy; and ten years’ relevant experience at a senior management position in the financial industry, atleast six years of which should include supervisory/regulatory and/or audit management experience;
• A relevant professional qualification (CPA; ACCA or CFA) along with experience working in thefinancial audit management field would be an asset;
• Anti-Money Laundering and or Fraud Prevention & Detection accreditation is required;
• Expert knowledge of generally accepted auditing / accounting standards;
• Significant experience in policy making specific to AML/CFT compliance strategies;
• Extensive experience in analysis of financial statements;
• Extensive experience auditing/ reviewing operations of financial service providers;
• Expert knowledge of relevant international standards with respect to AML/CFT compliance;
• Expert knowledge of Proliferation Financing (PF) and Counter Proliferation Financing (CPF);
• Extensive experience in assessing risk management and internal control compliance;
• Extensive knowledge of the Cayman Islands or similar Regulatory Framework – Legislation/Policiesrelating to the supervision of financial institutions for AML/CFT compliance;
• Specialized knowledge of governing documents and financial statements to analyze the implicationsof financial statements as they relate to financial institutions;
• Specialized knowledge of emerging onsite inspection/audit techniques, and up-to-date knowledge ofdomestic and international financial and economic events;
• Proven ability to lead and manage multi-disciplined teams, delivering outputs in adherence toestablished timeframes.
Direct applicants only. Applications received from agencies will not be accepted at this time.
(Only shortlisted candidates will be notified)
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