AML Specialist, Law firm Compliance
As AML Advisor, the focus is primarily on undertaking the technical, judgment and decision based work of the team, including:
- Advising all fee earners (in consultation with MLRO if necessary) on ongoing monitoring obligations, including high risk and enhanced monitoring together with the firm's processes for client and matter monitoring.
- Providing advice and support on complex compliance and regulatory client due diligence queries. Supporting the MLRO, LRAs, Director of Risk and Compliance Auditor on related projects and AML investigations.
- Assisting the MLRO/LRAs with the monthly review of high risk matters and producing reports for MLRO, LRAs, PPRC and Divisional Managing Partner / Executive teams.
- All aspects of high risk client / matter creation - risk assessments, regulatory analysis, due diligence, re-verification, sanctions issues, consideration of relevant commercial considerations and liaising with the Money Laundering Reporting Officer (MLRO), Local Reporting Advisers (LRAs) and the PPRC (where necessary) to provide an initial assessment.
- Analysis and advice on UN, EU, UK regulatory Sanctions related alerts and notifications relating to relevant sanctions designated / target lists. Including investigating any potential matches, applying judgment and escalating potential legal and reputational issues to the MLRO or PPRC, as appropriate.
- Assisting on the monitoring for changes in geographical and business related risks, reviewing the risk scores in the risk weighting table and updating the scores (under supervision) to reflect the change in risk.
- Supporting the Compliance Auditor to conduct weekly audit's of new client files in accordance with the provisions of the Money Laundering Regulations 2007.
- Assisting the Head of the team to produce an annual report on the firm's client demographic, key areas of risk and an assessment of the current money laundering / counter terrorist financing risk profile of the firm in accordance with the regulations.
- Providing advice and support to the team with any AML / CDD queries, including the approval of simplified and standard risk clients.
- Submitting Serious Organised Crime Agency Disclosures and Consent Applications in line with the regulations under the supervision of the MLRO and LRAs.
- Basic legal analysis under supervision, applying the relevant SRA Code of Conduct rules and firm policy.
- Lead on relevant risk and compliance related projects.
- Provide training and mentoring.
March 7, 2013
• Posted in: General
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