Chief Analyst
Reporting to the Deputy Head of AMLD, the Chief Analyst will assist with the coordination and conduct of off-site monitoring and on-site examinations across all business lines and industries of CIMA’s licensees and registrants for anti-money laundering/counter financing terrorism (“AML/CFT”) oversight. The Chief Analyst will be responsible for coordinating AML/CFT inspections in conjunction with the schedule of inspections for prudential supervision of the regulatory divisions with the onsite teams establishing the scopes of inspections to high standards with compliance to best practices and regulatory legislative requirements.
RESPONSIBILITIES:
The successful candidate will:
• Conduct AML/CFT oversight of regulated entities;
• Assess risks of regulated entities and conduct off-site monitoring and on-site inspections applying the risk-based approach;
• Plan, delegate and evaluate the off-site monitoring and on-site inspection processes of regulated entities to ensure their activities and strategies are in line with regulatory requirements and AML/CFT best practices;
• Prepare and review inspection and other supervisory reports as necessary to meet the divisional goals;
• Identify and conduct investigations on serious regulatory, AML/CFT issues of regulated entities and
proposes recommendations for improvements and/or compliance with the applicable regulatory requirements;
• Escalate and refer necessary enforcement matters after investigation of regulated entities;
• Attend and chair meetings with regulated entities and or auditors to ensure that the legal and regulatory requirements are being fulfilled;
• Assist with the development, implementation and future amendments of supervisory manuals and procedural documents to assess and determine whether regulated entities are in compliance with applicable acts, regulations and regulatory guidelines;
• Assist the Head or Deputy Head – AMLD with proposed, appropriate and sound recommendations, as necessary;
• Prepare and deliver relevant and informative internal or external presentations;
• Provide on the job training in applicable acts, guidelines, policies and processes and to other staff of the Authority;
• Manage, delegate, and supervise the work of an assigned team;
• Manage staff performance through coaching, ensuring the continued development and management of performance deficiencies;
• Assist in identifying, tracking and monitoring possible industry trends as they relate to ML/TF risks and compliance history;
• Assist the Head and Deputy Head with ML/TF risk identification across all regulated sectors, industries, business lines, and possible exposure levels; and
• Collate statistics, analyse collected data, and research best practices and international standards for meaningful assessments by other standard setting bodies.
REQUIREMENTS:
• A Bachelor’s degree from an accredited institution – in Finance, Law or Accounting; and
• Six years’ experience in a relevant position within an audit firm, in internal audit, AML/CFT Compliance, or AML/CFT Risk Management with a financial service provider, at least two years of which includes supervisory/regulatory experience.
• AML/CFT and or Fraud Prevention & Detection accreditation is required.
• A relevant professional qualification in information technology and security or other relevant credentials such as a CISA, CISSP, CISM, CPA, ACCA or CA would be an asset.
• Significant knowledge of auditing, AML/CFT legislation and the Proceeds of Crime Act & Regulations especially in the Cayman Islands;
• Significant knowledge of AML/CFT international standards and best practices;
• Significant knowledge in monitoring international targeted financial sanctions compliance;
• Comprehensive analytical skills to analyse ML/TF risks and the operations of financial institutions;
• Sound knowledge of the Cayman Islands or similar Regulatory Framework – Legislation/Policies relating to the examination 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;
• Proven ability to deliver outputs within established timeframes;
• Excellent oral and written communication and presentation skills; and
• Proficiency in all Microsoft Office applications, such as MS Word, Excel, and PowerPoint.
(Only shortlisted candidates will be notified)
Application for Employment
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