Financial Crime World

Compliance Officer Role and Responsibilities in Wallis and Futuna

The Compliance Officer plays a vital role in ensuring that businesses operating in Wallis and Futuna adhere to regulatory requirements and maintain a strong reputation. This critical position requires an individual with a minimum of five years of legal experience and/or compliance experience with a Type I licensed corporation in Japan.

Key Responsibilities

Advisory Role

  • Advise on setting up compliant operational processes, ensuring that all business activities are carried out in accordance with relevant laws and regulations.
  • Provide guidance on regulatory requirements to ensure smooth operations and minimize risks.

Reporting and Analysis

  • Collate regulatory reporting and prepare and present reports to management and the board, highlighting general compliance issues, trends, and challenges.
  • Make recommendations for changes to current procedures or systems based on analysis of compliance data.

Regulatory Compliance

  • Contribute to the Annual Compliance Plan and other relevant reports, adhering to best practice and regulatory requirements.
  • Ensure timely submission of all necessary documentation to regulators.

Relationship Building and Coordination

  • Maintain relationships with regulators and coordinate responses to inspections, ensuring that all necessary documentation is provided in a timely manner.
  • Serve as the focal point for correspondence on regulatory matters in Wallis and Futuna, providing expert advice and guidance to stakeholders.

Specialized Knowledge

Anti-Money Laundering (AML) Regulations

  • Familiarity with AML regulations, including onboarding, Know Your Customer (KYC), diligence, and suspicious activity reporting.
  • Understanding of FSA and JSDA rules is highly desirable.

Requirements

Personal Qualities

  • High level of integrity with character consistent with values.

Language Skills

  • Excellent communication skills in both Japanese and English.

Work Habits

  • Ability to work quickly and efficiently on a wide variety of tasks.
  • Strong problem-solving and analytical skills.

Experience

  • Experience in cross-border international compliance is preferred, but not mandatory.