Compliance and AML Risk Officer

  • Competitive
  • Berlin, Germany
  • Permanent, Full time
  • FXCM
  • 03 Aug 17

The Compliance and AML Risk Officer will report directly to the Global Director of Compliance and will assist in developing a robust Compliance and AML function and that it complies with its regulatory obligations and appropriately manages and mitigates AML and Operational risk.

Principal Duties & Responsibilities

  • Serve as primary contact person for the prosecution authorities, the Financial Intelligence Unit (Zentralstelle für Verdachtsmeldungen) of the Federal Criminal Police Office (Bundeskriminalamt – BKA), and other competent authorities;
  • Understand, maintain awareness of and ensure compliance with both AML and compliance regulatory requirements including local and EU laws, international and industry standards and best practices;
  • Coordinate, monitor and advise on both Global AML and compliance policy, business AML and compliance programs, local AML and compliance procedures, and other applicable compliance requirements;
  • Support regulatory applications, maintain current regulatory licences;
  • Draft and update compliance manuals, policies and procedures;
  • Respond to ad hoc queries from the Business regarding specialist German compliance matters;
  • Co-ordinate with both domestic and overseas FXCM Compliance Officers and/or MLROs on issues related to cross-border transactions and investigations;
  • Prepare weekly, bi-weekly, monthly and quarterly reports to the Global Director of Compliance;
  • Produce high level summaries and updates for senior management;
  • Keep abreast of regulatory rule changes and developments, assess their impact and as appropriate, circulate to management to consider next steps;
  • Keep up to date with EMIR and MIFID regulatory developments, technical standards and industry solutions;
  • Provide advice to the Business on German regulations that impact a firm dealing in OTC products;
  • Perform Quarterly Risk Control Self-Assessment with Department & Country Heads;
  • Document and maintain Process Flow Maps, Control Matrices and Control Test Plans for key business processes, and make any necessary updates as changes occur in the Business, Regulatory and Risk Control Environment in Germany;
  • Assist the Risk Officer in managing other Risk Control Processes and Activities as required; and,
  • Review and monitor risks associated with outsourcing vendor.

Critical & Essential Knowledge, Skills & Experience

Essential

  • Eligibility to work in Germany (no visa sponsorship);
  • Bachelor’s Degree (Preferably in Law, Finance, Business Administration, Accounting or any AML and Compliance related career). Masters and/or Juries Doctor preferred;
  • Sound previous experience in the AML function;
  • Good knowledge of German AML law (Geldwäschegesetz), Banking Act (Gesetz über das Kreditwesen), Securities Trading Act (Wertpapierhandelsgesetz), MiFid, and BaFin (Bundesanstalt für Finanzdienstleistungsaufsich) regulations is a must;
  • Strong interpersonal, organisation, researching and communication skills; Sound proven compliance experience or relevant department experience at a BaFin regulated firm or auditing firm;
  • Sound knowledge of European regulations;
  • Ability to work with the business and build smooth working relationships;
  • Team player and able to prioritise in a fast moving, constantly changing environment;
  • Analytical and problem solving skills with excellent attention to detail;
  • An ability to establish credibility at the most senior levels within the firm;
  • Excellent organisational skills and ability to manage multiple tasks and meet strict deadlines;
  • Knowledge of Operational Risk frameworks, Key Risk Indicators and Risk Register maintenance preferred; and,
  • Strong computer skills and proficiency in Microsoft Word, Excel and PowerPoint.

Desirable

  • A degree in Business, Finance, Economics or other related field; Fundamental understanding of German and European regulatory issues that could affect an online brokerage;
  • Experience of communicating directly with European regulators; and,
  • Knowledge and experience of OTC products and in particular CFD’s and Forex.

Professional Qualifications

  • Preferably ACAMS Certified Anti-Money Laundering Specialist (CAMS) or ICA Certified Compliance Specialist or equivalent.

Federal Financial Supervisory Authority (BaFin) Controlled Function(s)

Not applicable

Interfacing with:

  • Company Directors and Senior Management;
  • Compliance Management;
  • Sales;
  • Risk Management;
  • Internal/External Audit; and,
  • Regulatory Bodies.

Other Information

  • Location: Berlin, Germany
  • Attractive Salary

Prior to submitting your cv, the Firm requests that you do the following:

  • ensure that you are eligible to work in Germany (no sponsorship)
  • review the Firms website thoroughly at fxcm.com

FXCM is an Equal Opportunities Employer