Head of Compliance

Limassol, Cyprus

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legal-compliance/ forex

Head of Compliance

Limassol, Cyprus

An excellent opportunity has come through for an experienced Head of Compliance to join a busy and expanding CIF in Limassol. This is a rare opportunity for exceptional people who relish the opportunity to join an established and professional organization they would be proud to work for.


Job Description

  • Ensure compliance with laws, regulations, and directives issued by CySEC
  • Ensure implementation of the procedures described in the Company’s Procedures Manual
  • Monitor and assess that adequate policies and procedures, detect any risk of failure by the Company to comply with its obligations under the Law, as well as the associated risks, have been established, implemented, and are maintained and that for these purposes, the Company takes into account the nature, scale and complexity of the business of the Company, and the nature and range of investment services and activities undertaken in the course of that business
  • Ensure that employees of the Company attend training sessions on compliance with applicable laws, rules, and regulations as well as anti-money laundering and terrorist financing procedures
  • Provide advice and guidance to Company’s employees
  • Ensure the implementation of the “Know Your Client” procedures of the Company
  • Communicate with regulatory bodies
  • Assist regulatory bodies in performing inspections of the Company’s activities
  • Supervise the gathering of information with regards to the new Customers of the Company
  • Supervise the monitoring and analysis of the Customers’ transactions
  • Continuous improvement of the existing control procedures
  • Review Company’s Marketing Communication and check if it has been prepared in accordance with legal requirements
  • Advise and assist employees responsible for carrying out investment services and activities to comply with Company’s obligations under the Law and the Directives
  • Recommend, in case of detection of any weakness or failure by the firm to comply with its obligations under the Law, specific remedial measures
  • Provide an annual written report to the Board of Directors on the matters of your responsibility indicating in particular whether the appropriate remedial measures have been taken in the event of any deficiencies
  • Design, based on the general policy principles of money laundering and terrorist financing approved by the Board of Directors, the internal practice, measures, procedures, and controls relevant to the prevention of money laundering and terrorist financing and describe and explicitly allocate the  appropriateness and the limits of responsibility of each department that is involved in the abovementioned
  • Develop and establish the Customer Acceptance Policy and submit it to the Board of Directors for their consideration and approval
  • Prepare Company’s risk management and procedures manual regarding the prevention of money laundering and terrorist financing
  • Monitor and assess whether the policy, procedures and controls that have been introduced for the prevention of money laundering and terrorist financing are correctly and effectively applied and in general, the implementation of the risk management and procedures manual. In this regard, apply appropriate monitoring mechanisms (e.g. on-site visits to the Company’s  Departments) which will provide you with all necessary information for assessing the level of compliance of the Departments and the employees of the Company with the procedures and controls which are in place. The results of the assessments are taken into consideration. In the event that you identify shortcomings and/or weaknesses in the  application  of  the  required  practices,  measures,  procedures, and controls, give appropriate guidance for corrective measures and where deem necessary inform the General Manager who has a seat in the Board of Directors or the Board of Directors
  • Ensure that the Company prepares and maintains a list of customers classified on a risk-based approach, as defines in CySEC Directive, which should contain, among other data, the names of customers, their account number, and the date of the commencement of the business relationship. Moreover, you ensure the frequent updating of the said list with new or existing customers in the light of additional information obtained. All above-mentioned information including the names of customers, account number, date of commencement of the business relationship, and risk classification can be found at any time in the Company’s CRM. A report/list can be produced at any time by extracting the required data from the CRM
  • Detect, record, and evaluate, at least on an annual basis of all risks arising from existing and new customers, new financial instruments and services, update and amend systems and procedures applied by the Company for the effective management of the aforesaid risks
  • Assess the systems and procedures applied by a third person on whom the Company relies for customer identification and due diligence purposes and approve the cooperation with it
  • Ensure that all branches and subsidiaries of the Company that operate in countries outside the European Economic Area have taken all necessary measures for achieving full compliance with the provisions of CySEC Directive in relation to customer identification, due diligence, and record-keeping procedures
  • Provide advice and guidance to other employees of the Company on the correct implementation of procedures and controls against money laundering and terrorist financing
  • Acquire the necessary knowledge and skills for the improvement of the appropriate procedures for recognizing, preventing, and obstructing any transactions and activities that are suspected to be associated with money laundering or terrorist financing
  • Determine which of the Company’s Departments and employees need further training and education for the purpose of preventing money laundering and terrorist financing and organizes appropriate training sessions/seminars. In this regard, you prepare and apply an annual staff training program. You maintain full records of the seminars and other training offered to the Company’s employees and assesses the adequacy of the training and education provided
  • Prepare correctly and submit timely to CySEC the monthly prevention statement and provides the necessary explanation to the appropriate employees of the Company for its completion
  • Obtain and utilize, for the purpose of applying the provisions of the relevant laws and regulations and ensure Company’s compliance, data, information, and assessment reports issued by international bodies such as the  Financial Action Task Force  (FATF), Moneyval Committee of the Council of Europe, International  Monetary  Fund, EU Common Foreign & Security Policy (CFSP), UN Security Council Sanctions Committees, International Money Laundering Information Network (IMOLIN), etc
  • Duties and responsibilities may from time to time change and be reasonably determined by the Board of Directors and/or Senior Management

Your Profile

  • At least 2 years' experience as a Head of Compliance in CIFs
  • Degree in Business, Economics, Finance, Law, or any other related field
  • Advanced CySEC License
  • AML CySEC License
  • Able to work in a face-paced environment
  • Has the ability to multi-task and work to strict deadlines


  • An attractive remuneration package will be offered to the successful person
  • Free medical insurance
  • Opportunity for self-development and career advancement
  • Working hours are 09:00–18:00


HR Innovate is an equal opportunity Recruiting Agency and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, or disability status. We are committed to protecting your personal data.