Overview

This Payment Solutions Company in Limassol belongs to a group of very innovative companies with excellent benefits and they are looking for Head of Compliance and AMLCO with experience in the payment services sector (banks, payment methods, financial services, so not forex).

Responsibilities:
Design procedures, policies and controls and define the responsibilities and limits of responsibility of each department that is dealing with matters related to the prevention of terrorist financing money laundering
Prepare and submit a report recording for approval to the Board of Directors through the Senior Management, and assessing the risks for money laundering and terrorist financing
Record and assess on an annual basis all risks arising from existing and new customers, new products and services and the adoption of measures with additions or changes to the systems and procedures implemented by the company for the effective management of these risks.
Submission of the AML annual report to the board and the regulator and all other relevant reports needed for Compliance and AML purposes
Monitoring and assessment of the correct and effective implementation of the policy, procedures and controls that have been introduced
Application of appropriate monitoring mechanisms that will provide with the necessary information for the level of compliance with the policies and procedures
Liaise with authorities, partners, regulators, external and internal stakeholders for AML and CFT topics including global offices
Prepares and implements, in cooperation with other competent departments, an annual plan of training and education of staff.
Evaluate the findings of the Internal Audit to take corrective action for issues of prevention of money laundering and terrorist financing.
Responsible of keeping up to date with regulatory or Card Schemes/partners and PSD2, changes and update of the relevant policies and procedures
Lead and develop regulatory compliance policies and carry out ongoing monitoring and investigations on merchants, partners, and vendors.
Develop and maintain regulatory compliance policies and procedures including KYC, AML and sanctions screening
Develop and maintain appropriate control measures to monitor KYC, AML, complaint handling and funds safeguarding
Implement suitable compliance controls to new business initiatives and products
Design and manage effective due diligence and monitoring program to third parties and vendors
Review marketing materials and ongoing monitoring of the company’s website to ensure compliance with the requirements of the relevant legislation, regulation and card schemes rules
Receipt and handling of clients’ complaints
Establish and maintain appropriate risk-based monitoring processes that are proportionate to the scale, nature and complexity of the firm’s operations.
Ensure all internal suspicious activity reports received are investigated without delay.
Make recommendations for action to remedy any deficiencies in policies, procedures, systems or controls and follow up on those recommendations.
Implement the Internal Suspicious Reporting procedure, train the employees on it and follows the application of such procedures from the review of the report to the communication with MOKAS.

Requirements:
Bachelor’s or master’s degree in law, economics, or any other relevant field
Registered in Cyprus AML Public Registrar (AML Examination Certificate)
Strong understanding of payments including acquiring, gateway and alternative method of payments
Working knowledge of key regulatory /consumer bodies including ECB, CBC, MasterCard and Visa
Relevant professional development compliance qualifications from ICA, CISI or other professional development body
At least 3 years of experience in a compliance/AML function in payment services companies
Excellent verbal and written Greek and English communication skills and the ability to explain complex requirements
Strong organization interpersonal and presentation skills

Working schedule: 
Monday to Friday, flexible working hours, 8 hours of active work

 

TO APPLY for this job opportunity, send your CV (in English please) to [email protected] and include the reference:  Head of Compliance and AMLCO – VAC-D526. We look forward to hearing from you!

 

About StaffMatters Recruitment Specialists

StaffMatters is a leading recruitment agency based in Limassol, providing hundreds of clients across Cyprus with top candidates for all their job vacancies. If you are looking for a job, whether you are a new graduate or a senior executive, we recruit for vacancies across the whole spectrum. Contact our professional and enthusiastic recruitment team to help you land your dream job.