The Compliance Officer is management official in charge of developing, implementing, and updating CAGE’s compliance program in accordance with the Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) Laws and Regulations of Guyana and relevant international standards. The Compliance Officer reports directly to CAGE’s Board of Directors. The Compliance Officer’s duties include:
Bachelor’s Degree or higher education required – legal education preferred.
Relevant work experience in a compliance-related role or in a supportive function for a minimum of at least three (3) years; specific experience with AML/CFT preferred.
Certified by Agency providing certification for Anti-Money Laundering and Counter Terrorism Compliance Officers
Provide all staff members with guidance regarding their respective duties under the AML/CFT program and the business operations.
Ensure that the ML/FT risks associated with conducting business are identified and understood by Management; and compliance systems are implemented within the business operations to mitigate these risks.
Collaborate with other departments (e.g. Legal, Human Resources, Customer Service, Management, Internal Audit) to ensure that all practices and procedures are in accordance with the business’ AML/CFT Compliance Program and relevant legislation and co-ordinates the same with the Vice President – Legal Affairs and Compliance.
Provide reports to the Board of Directors and/or Senior Management to keep them informed of the operation and progress of compliance efforts.
Undertake the necessary steps to enforce the established policies and procedures and review and evaluate the strengths and weaknesses of the compliance program within the business.
Periodically review the Compliance Program to measure efficiency and effectiveness and to identify potential areas for improvement.
Ensure that all suspicious activities to be forwarded to the Financial Intelligence Unit (FIU) have been submitted.
Be the point of contact for the FIU concerning money laundering, terrorist financing and related matters.
Document, investigate and maintain all suspicious activities/transactions reported internally.
Develop and manage the Register of Suspicious Activity Reports containing all noted suspicion reported and not reported to the FIU.
Develop and manage the Register of Enquiries containing all enquiries received from the relevant competent authorities such as the FIU.
Coordinate with the Human Resource Department and others, as appropriate, to develop an effective training program. This would include on-going training for management and staff and appropriate introductory training for new staff members.
Ensure that the monitoring and reporting mechanisms are in place to recognize, investigate and report suspicious activity or any other activities that appear unusual to the normal course of client’s business or type of client’s transactions.