Compliance Assistant; Internal Control

Compliance Assistant (Internal Control)

Purpose of the Job:

To provide administrative and operational support to the Compliance and Risk Department. The Compliance Assistant assists in evaluating institutional compliance, ensuring the Bank's daily operations align with the laws and regulatory requirements of the Virgin Islands, and supporting the Bank's digital transformation and compliance reporting initiatives.

Educational Requirements:

• Associate Degree in Business Administration or any other related field

Knowledge, Skills and Abilities:

• Regulatory Awareness:
  Basic understanding of AML, CFT, Proliferation Financing (PF), and the legal and regulatory standards established by the Virgin Islands (including the BVI Regulatory Code, 2009 and the Labour Code, 2010).
• Regulatory Fitness:
  Ability to meet the basic expectations of the BVI Financial Services Commission's "Fit and Proper" criteria, demonstrating honesty, integrity, and professionalism.
• Analytical
  
  Skills:
  
  Strong analytical and effective problem-solving skills, supported by meticulous attention to detail.
• Communication:
  Good verbal and written communication skills, with the ability to handle sensitive information with tact and discretion.
• Digital Fluency:
  Proficient in the Microsoft Office Suite with the ability to quickly adapt to modern core banking systems, CRM platforms, and automated compliance screening tools.
• Work Management:
  Strong organizational skills, flexibility, and the ability to multitask and work independently under pressure.

Experience:

• A minimum of two (2) years in a compliance role
• Experience with in the Banking or financial services sector

Primary Responsibilities include, but are not limited to:

Operational Governance & Administrative Support:

• Administrative Execution:
  Provides administrative support in the implementation and day-to-day administration of the Bank's compliance and risk policies, procedures, and departmental activities.
• Management Reporting:
  Assists in the preparation and compilation of monthly and quarterly compliance reports for Departmental Meetings, Executive Management, and the Board of Directors.
• Resource Management:
  Assists in maintaining a library of compliance resources and ensures the timely dissemination of relevant information (including changes to all rules, regulations, and laws) to the appropriate personnel via departmental bulletins.
• Complaints Administration:
  Assists in maintaining the Bank's Register of Complaints, ensuring matters are accurately logged and made available for further review and resolution.
• Training Coordination:
  Assists with coordinating mandatory regulatory, AML/CFT/CPF, and risk-related training programmes hosted by the Department, helping to ensure their smooth delivery and proper recordkeeping.

Compliance, AML/CFT/CPF & Quality Assurance:

• Second Line of Defence (2
  
  LoD) Support:
  Provides support within the Bank's Second Line of Defence by assisting with the identification, monitoring, and escalation of operational and regulatory risk matters.
• Account Reviews & Escalation:
  Performs daily reviews of accounts, specifically targeting activity that has exceeded the expected amount of transactions per the customer's profile. Conducts research to obtain additional information, documents the results of the investigation, and refers findings to the Internal Control Officer for appropriate attention.
• PEP Monitoring:
  Maintains an updated tracker to facilitate timely risk assessment reviews of Politically Exposed Persons (PEPs) accounts.
• Source of Funds (SOF):
  Assists with the investigation and preparation of Source of Funds reports for review by the Internal Control Officer in accordance with the BVI AML/CFT Code of Practice.
• Regulatory Reporting:
  Assists with the coordination and preparation of regulatory reporting, including FATCA, CRS, and International Tax Authority (ITA) filings.
• Log Maintenance:
  Maintains and updates various internal compliance logs and trackers to ensure continuous regulatory alignment.

Sanctions and Due Diligence:

• Sanctions Monitoring:
  Supports the screening of customer accounts and transactions against updated UN and UK targeted financial sanctions lists, ensuring adherence to the BVI Revised Sanctions Guidelines.

Digital Transition and Data Protection:

• Digital Compliance Automation:
  Assists with the transition to, and daily operation of, automated compliance and risk monitoring systems, in support of the Bank's digital transformation objectives.
• Screening Platform Support:
  Assists with updating and maintaining the Bank's Risk Screening platform to support accurate and effective compliance monitoring.
• Data Privacy Adherence:
  Maintains the confidentiality of all customer and employee information and performs assigned duties in accordance with the Bank's confidentiality standards and in strict adherence to the BVI Data Protection Act, 2021.

Other Duties:

• Performs any other related duties, assignments, or special projects as required or assigned to support the evolving needs of the Compliance and Risk…