Description
An exciting role has become available in NRCU
Anti Money Laundering Compliance Officer
New Ross Credit Union Ltd. is seeking an experienced Anti-Money Laundering Compliance Officer (AMLCO) to lead and manage our AML function. Reporting to the Risk & Compliance Manager the AMLCO will ensure the credit union’s full compliance with all relevant anti-money laundering (AML) and counter-terrorist financing (CTF) legislation, including the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 and subsequent amendments. The successful candidate will be responsible for the development, implementation, and oversight of AML policies and procedures, as well as providing guidance and support on AML-related matters to internal stakeholders.
This is a critical role within the credit union, requiring the AMLCO to be the point of contact for all AML-related issues, while liaising with regulatory authorities such as the Central Bank of Ireland, An Garda Síochána, and Revenue Commissioners. The AMLCO will play a key role in maintaining the credit union’s strong compliance culture, while ensuring minimal disruption to member services.
Main Responsibilities
- AML Policy & Procedures: Develop, implement, and maintain AML/CTF policies and procedures in compliance with applicable legislation and industry best practices. Ensure regular review and updates to reflect changes in laws and regulations.
- Suspicious Transaction Reporting: Oversee the identification, assessment, and reporting of suspicious transactions (STRs) to An Garda Síochána and the Revenue Commissioners. Ensure proper documentation and record-keeping of STRs.
- Customer Due Diligence (CDD): Ensure the credit union meets its obligations regarding Customer due Diligence (CDD) and Enhanced Due Diligence (EDD) requirements. Conduct ongoing monitoring of member transactions to identify potential risks.
- Regulatory Reporting: Prepare and submit all required reports to the Central Bank of Ireland and other relevant authorities in a timely and accurate manner. Ensure all internal reporting processes are aligned with regulatory requirements.
- Training & Awareness: Deliver AML training to all staff, directors, and volunteers to ensure awareness of their obligations under AML/CTF legislation. Keep training records updated and conduct regular refresher sessions.
- Internal Compliance Monitoring: Regularly review and monitor credit union transactions, systems, and processes to ensure compliance with AML/CTF policies. Implement regular internal audits and gap analyses to identify and address potential areas of improvement.
- External Relationships: Serve as the primary point of contact with external bodies such as the Central Bank of Ireland, An Garda Síochána, and Revenue Commissioners. Respond to inquiries and requests from these authorities as required.
- Risk Assessment: Conduct ongoing risk assessments related to money laundering and terrorist financing. Ensure that these assessments are up to date and reflective of the credit union’s risk profile.
- Record Keeping: Maintain accurate records of all AML-related activities, including suspicious transaction reports, training records, and policy updates, in accordance with regulatory requirements.
- Stay informed of evolving AML/CTF legislation and regulatory guidelines, ensuring their timely integration into all relevant credit union operations to maintain compliance and uphold best practices.
- This position is a controlled function: (CUCF-1) within the Central Bank of Ireland’s fitness and probity (F&P) regime. This function is subject to the officer meeting MCC requirements and F&P requirements.
- Attendance at Board/Committee meetings outside of work hours will be required.
Competencies Required:
A minimum of 3 to 5 years’ experience in a similar AML/CTF compliance role or the financial services sector.
Strong understanding of Irish/ EU Legislation.
Excellent analytical, communication, and organisational skills.
Expert knowledge of MS Excel.
Qualifications
(Desirable)
Professional certification in AML or Compliance (e.g., ACOI, ICA, or LCOI).
Professional Qualification in Compliance (LCOI/ACOI etc)
Pathways Diploma in credit union Operations (ROI)
QFA Qualified Financial Adviser (QFA) / Accredited Product Adviser (APA)
ACCUP
A third-level qualification in a relevant field (e.g., Business, Law, Finance, Compliance, or Risk Management).
Why Join Us?
Competitive salary and benefits package.
Opportunity for career development and ongoing professional training.
Work with a dedicated and supportive team in a community-focused financial institution.
Hybrid working options after successful completion of the probation period.
Equal opportunity employer committed to diversity and inclusion.
Closing date for applications is Friday the 18th of October 2024
Shortlisting may apply and candidates will be short-listed based on information provided
This credit union is regulated by the Central Bank of Ireland
New Ross Credit Union is proud to support a diverse and inclusive working environment.
Apply now through the below link:
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