Financial Crime World

Palau Compliance Officer Job Description: Senior Business Compliance Officer Role Initiated

A New Role to Ensure Continuous Focus on Delivery and Quality of First Line Compliance in Palau

The island nation of Palau has initiated a new role - the Senior Business Compliance Officer - to ensure continuous focus on delivery and quality of first line compliance. This role is responsible for ensuring proper fulfillment of World Wide Fund Transfer (WWFT) and World Trade Transaction (WTT) compliance within operational teams.

Key Responsibilities

  • Assure the quality of regulatory and procedural client due diligence during and outside periodic compliance review process
  • Advise team members to increase consistency and quality throughout the team
  • Verify integrity risk profiles, transaction profiles, source of funds, source of wealth, and total net worth of ultimate beneficial owners (UBOs)
  • Explain the purpose of each layer of the structure and flow of funds
  • Draft Politically Exposed Persons (PEP) and bad press memos if required
  • Implement mitigating measures and enhanced due diligence whenever necessary
  • Support client service managers with completing client memorandums
  • Perform overall client file reviews for the team

Key Competencies

  • Action-oriented
  • Effective communicator
  • Resilient
  • Interpersonal savvy
  • Excellent organizational, prioritization, and interpersonal skills
  • Strong communication and influencing abilities

Requirements

  • Minimum of three years’ experience working in a similar compliance-related role in the financial services industry
  • Preferably with knowledge of or experience working in the global investor services industry

About IQ-EQ

IQ-EQ is a leading Investor Services group that offers an inclusive and diverse environment to support career aspirations. With a strong emphasis on continuous learning and holistic approach to professional and personal development, IQ-EQ provides opportunities for growth and development.

Current Opening

The company has a current opening for a Senior Business Compliance Officer in its Americas & European Investors Team in Palau. If you’re looking for a challenging and rewarding role that allows you to make a difference, apply now!