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Role Title

Senior New Business & Risk Reporting Officer

Reporting to

Teresa Merrien

Team

New Business & Risk

Division

Investec Bank (Channel Islands) Limited

Key relationships

Internal (within Organisation)

• All departments in Investec Bank (Channel Islands) Limited
• Investec Private Bank – London
• Information Bureau within IBP London as necessary

External (Outside organisation)

• Intermediary Clients

Qualifications

(ii) Mandatory professional qualifications and exams (required for the role)

(ii) Mandatory professional qualifications and exams required under the FCA T&C rules or prescribed by IW&I (please state N/A if no qualifications/exams are required for this role):

Team Description

An exciting opportunity to join a leading offshore, Guernsey based financial institution that provides private banking and execution only investment products and services (amongst others) to its clients. The successful candidate will join an established new business and risk team that has extensive skills and experience. The role offers the opportunity for a long-term career at the firm with the opportunity for personal growth and development.

Description of role and key responsibilities

Role Definition

• To safeguard the organisation, its reputation, assets, and the interests of stakeholders by identifying and managing potential threats to the achievement of our business objectives in relation to new client take-on and existing client maintenance.

• It is key that the job holder must have a good understanding of the regulatory environment including the regulations, rules and guidance and their implications relevant to the job and to follow all applicable internal compliance considerations and appropriate processes, policies, and procedures.

Key Responsibilities

• New client and new account opening, any subsequent sub account opening, reviewing client applications ensuring thorough completion also of all internal documentation including completion of risk assessments, all checklists, screening and other relevant searches.

• Support both the trigger and periodic review processes undertaking reviews or quality assurance where required. Acting to update information following reviews and proactively identifying errors and omissions which may stimulate the need for updated risk assessments and /or necessary data corrections. Ensuring the review escalation process is followed and reviews are closed off in a timely manner.

• Careful review of all documentation supplied by the client to ensure that it is complete, compliant, and consistent. Liaison with the Intermediaries or RMs as required to identify and obtain any required additional information in respect of any new client account take-on or existing review.

• Carrying out enhanced Customer Due Diligence for high risk and PEP relationships including liaison with the RM where necessary. The initial business take on of high risk and PEP business remains the responsibility of the RM, the role holder positively working in cooperation with the RM in respect of information gathering.

• To assist team manager with the delivery of monthly MI to Business Heads, Compliance, Operational Risk etc for accounts opened, ageing items, outstanding reviews and help cover and manage the team and workflow.

• Ability to both undertake and provide four eyes sign off others work.

• To assist in work in relation to FATCA & CRS to ensure clients are compliant for all new accounts and repapered accounts. Undertake a classification reasonableness check and refer as required.

• Making recommendations to improve the process and documentation and providing SME support to automation projects.

• Assist with training and cross skilling team members.

• Retrospective exercises: support and management of any retrospective CDD exercises to support the needs of the business, including the identification, rectification and logging of errors and omissions whilst following the review process.

• To monitor the prospective client accounts and outstanding tasks to ensure all work is progressing and where no longer required or completed, is closed off in a timely manner.

Core skills and knowledge

Core Skills

• Some exposure to management of regulatory risk in a large financial institution.

• Strong attention to detail delivering high quality work always.
• Strong influencing skills that result in winning the co-operation of RMs and colleagues and maintaining the appropriate priority for regulatory matters.
• Excellent people skills with some experience of people management or deputising for team manager
• Excellent communications and presentation skills, to be able to inform and persuade both orally and in writing.
• Persistence, an eye for detail and ability to complete projects within specified deadlines.
• Personal organisation and planning skills, proven time management skills with ability to meet deadlines.
• An inquisitive and enquiring mind.
• Challenging yet non-confrontational.
• Able to operate independently and escalate appropriately with confidence.

Knowledge

• A detailed knowledge of the general tools and techniques of account opening, KYC/CDD processes and all risk review processes.

• In depth knowledge required of client structures to facilitate the collection of Customer Due Diligence and compliance with local regulatory requirements.

• Detailed knowledge of FATCA and CRS requirements.

• Knowledge of our organisation and the environment (e.g. regulatory, physical) in which it operates.

• Actively considers the wide picture identifying patterns and connections between issues and situations that are not obviously related.
• Logically breaks down problems and situations into their essential parts and draws reasonable conclusions based on their analysis.

Any other attributes that would be helpful, but not essential for the role.

Candidates must hold a valid Right To Work/Employment Permit for the Island of Guernsey