Compliance Officer & MLRO

Corrieri Cilia is a fast-growing tax & legal practice active in the financial services and international business sectors, and we are seeking to add an experienced and diligent Compliance Officer and MLRO to our team.

The successful candidate will take responsibility for the compliance and AML/CFT functions of our regulated corporate services business, leading a small compliance team and reporting directly to the Board. The appointment will be subject to the necessary MFSA approval.

Key Responsibilities

The chosen candidate will be responsible for the following tasks:

• Ensuring the company’s compliance with applicable legal and regulatory requirements, including the Company Service Providers Act, the CSP Rulebook, applicable MFSA requirements and AML/CFT legislation and guidance;
• Managing, training and developing a small team of Compliance Administrators who assist with day-to-day compliance and AML/CFT tasks and duties, including allocating and reviewing work and maintaining appropriate quality standards;
• Overseeing the administration of compliance and AML/CFT processes, ensuring that client files are reviewed and updated on a regular and risk-sensitive basis through ongoing monitoring, including appropriate CDD and EDD measures;
• Drafting, maintaining, and periodically assessing and updating the company’s compliance and AML/CFT framework, policies and procedures, including the Business Risk Assessment, Customer Risk Assessment methodology and Customer Acceptance Policy; ensuring that the company operates within applicable regulatory standards; and communicating such policies and procedures to staff members;
• Acting as the company’s MLRO and overseeing the effectiveness of the firm’s AML/CFT framework and controls; receiving and independently assessing internal reports concerning knowledge or suspicion of money laundering or funding of terrorism, determining whether an external report should be submitted to the FIAU and submitting such reports where required; maintaining appropriate records of internal and external reports and related assessments; overseeing client onboarding processes; and ensuring that appropriate due diligence and KYC measures are carried out in respect of prospective and existing clients;
• Carrying out and overseeing compliance and AML/CFT risk assessments, including maintenance and periodic review of the company’s Business Risk Assessment and customer risk assessment methodology;
• Developing and delivering appropriate, role-specific AML/CFT and compliance training to staff members to ensure awareness of their obligations and the correct application of the company’s policies and procedures;
• Keeping updated on any changes or developments in relevant laws, regulations, rules and regulatory guidance, assessing their impact on the company’s business, policies, procedures and controls, communicating relevant developments to the Board, management and staff, and overseeing the necessary actions to ensure continued compliance;
• Acting as the principal point of contact for compliance and AML/CFT matters, including with the MFSA, FIAU, the Board, senior management, auditors and relevant internal stakeholders;
• Handling regulatory reporting to the MFSA, FIAU and any other relevant authorities and ensuring that all required reports and returns are submitted accurately and within applicable deadlines; coordinating regulatory inspections, supervisory engagements, information requests and related remediation exercises;
• Maintaining and periodically reviewing the Business Risk Assessment, and reporting significant compliance and ML/FT risks, control deficiencies and required remedial actions to the Board and senior management;
• Developing, maintaining and implementing a risk-based Compliance Monitoring Programme, including periodic monitoring reviews and testing to assess the adequacy and effectiveness of the company’s compliance arrangements;
• Identifying, assessing and documenting actual or potential regulatory breaches and compliance deficiencies, ensuring that material matters are appropriately escalated and that remedial actions are identified and monitored to completion;
• Preparing periodic written compliance and AML/CFT reports for the Board, including material risks, monitoring findings, regulatory breaches or deficiencies and the status of remedial actions;
• Providing independent compliance and AML/CFT advice and effective challenge to the Board, senior management and operational teams, and escalating material concerns where appropriate;
• Overseeing compliance with applicable requirements relating to governance, conflicts of interest, complaints handling, outsourcing, record-keeping, business continuity and other regulatory obligations relevant to the company’s activities;

Applicants should have the following minimum qualifications and skills:

Experience

• At least five years’ relevant experience in compliance, AML/CFT, financial crime or regulatory risk, including significant experience within the Maltese regulated sector.

• Capable of satisfying the MFSA’s fitness-and-propriety requirements and obtaining the MFSA’s prior approval to act as Compliance Officer and MLRO. Previous approval by the MFSA in either or both roles within a Maltese regulated entity will be considered a strong advantage.

• Extensive knowledge of the Maltese and EU regulatory and AML/CFT framework, particularly the CSP regulatory environment, PMLFTR and FIAU Implementing Procedures;
• Practical experience with customer risk assessment, CDD/EDD, ongoing monitoring, beneficial ownership, source of wealth/source of funds and suspicious activity reporting.
• Experience preparing compliance monitoring programmes, risk assessments, policies and Board-level regulatory reports.

Previous MFSA approval as a Compliance Officer and/or MLRO, a relevant degree or professional qualification, and recognised AML/compliance qualifications such as CAMS or ICA will be considered strong advantages.

Personal Skills

• Honesty, integrity and strong decision-making skills;
• Excellent written and verbal English communication skills are a must. Fluency in other languages will be considered an asset;
• Proven ability to meet and adhere to strict deadlines;
• Excellent organisational and analytical skills;
• An eye for detail and accuracy;
• The ability to work on your own initiative and in a team.

What We Offer

Aside from being part of a great team, you’ll qualify to receive our robust benefits package, which includes:

• A flexible, hybrid work schedule (up to two days remotely per week);
• Private health insurance - a comprehensive Private Hospital plan;
• Shorter summer working hours on Fridays from June through September;
• Regular team-building activities and social events;
• Health and Wellness Benefits – a fully paid, unlimited, on-site gym membership or an annual Health and Wellness cash allowance;
• Free underground parking;
• Competitive salaries, performance bonuses, and regular appraisals
  
• Opportunity to participate in the company’s Occupational Pension Scheme, supporting long-term financial planning goals;
• Tenure-based Rewards Scheme, recognising employee loyalty through a combination of additional paid time off and monetary rewards;
• Opportunities for development, growth, and advancement within the company;
• Opportunities to attend seminars, conferences, networking, and training events, fully paid for by the company;
• Exposure to working with international clients across a wide range of industries;
• Employee Referral Bonus Scheme, rewarding you for successful candidate referrals;
• Ultra-modern, luxury penthouse offices with panoramic views, 550 square metres of outdoor terraces, and dedicated dining and relaxation areas;
• Coffee, fruit, and breakfast snacks;
• An agile, vibrant, and multicultural company!