Country Compliance Officer & Money Laundering Reporting Officer (MLRO)

Country Compliance Officer & Money Laundering Reporting Officer

The Country Compliance Officer (“CCO”) is responsible for providing oversight and leadership to the Bahamas Compliance function, while ensuring full compliance with relevant laws, regulations and Group policies applicable to Butterfield’s Bahamas business. The successful candidate will also responsible for reviewing Internal Disclosures received from Butterfield staff and where required, externalising these reports to the local Financial Intelligence Agency.

Your responsibilities will include:

• Overseeing and managing the Compliance function in the Bahamas, ensuring adherence to all relevant financial crime and regulatory compliance requirements.
• Holding the ultimate responsibility for the reporting of suspicious activity to the local Financial Intelligence Agency, ensuring that local regulatory requirements, as well as those defined by Butterfield policy, are met.
• Reviewing and opining on higher risk scenarios identified through due diligence activities, surveillance and monitoring processes, or other business escalations.
• Acting as a key point of contact for law enforcement and regulatory authorities for Compliance matters, including those relating to the reporting of suspicious activities.  
• Providing periodic reporting to jurisdictional risk committees and boards of directors on the effectiveness of the Bahamas Compliance program.
• Providing guidance and leadership to Compliance staff in the Bahamas, building a collaborative team that acts as a trusted partner to local and Group stakeholders.  
• Supporting the success of the Group Compliance Validation Testing (“CVT”) program by articulating regulatory requirements, providing guidance on scoping activities and engaging with local stakeholders on remedial actions.
• Collaborating with jurisdictional and Group stakeholders to ensure that Butterfield’s risk appetite is maintained and higher risk factors are managed assertively.
• Contributing to the Group level policy framework by participating in consultation processes, supporting the evolution of policies, systems, testing and training frameworks.  
• Identifying scenarios that warrant escalation to Group Compliance based on reputational or financial crime risk attributes.
• Supporting and advising the business on risk taking activities through participation in risk committees, as well as offering ad hoc advice where required.   

About the team

The Compliance department ensures that the Bank complies with all applicable laws and regulations in the jurisdictions it operates, and it plays an essential role in helping to preserve the integrity and reputation of our business. It is responsible for establishing regulatory policies within the Bank and monitoring changes in economic conditions and regulatory requirements keeping Butterfield is up-to-date with the latest thinking.

Your qualifications and skills include:

• Minimum of 10 years of compliance experience within an international financial services organisation (preferably in fiduciary industry)
• Strong understanding of financial crime, regulatory compliance and international sanctions obligations in the Bahamas
• Strong understanding of global financial crime trends and threats, including how these can be mitigated through the application of appropriate controls.
• Experience presenting materials at an executive and board level
• Excellent communication and reporting writing skills
• High attention to detail and excellent analytical skills
• High ethical standards with the ability to handle sensitive and confidential matters with absolute discretion