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Compliance Assistant
Risk & Compliance
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DEPARTMENT DESCRIPTION
The Compliance team of Hogan Lovells Cadwalader is responsible to carry out client due diligence (CDD) on new and existing clients of the firm. This is mainly done by applying the most recent UK Money Laundering Regulations. Amongst other things this involves identifying and verifying who controls and owns the client entity and assessing the risk posed by the business relationship.
ROLE DESCRIPTION
The overall purpose of the role is to conduct Ongoing Monitoring on existing clients of the firm and thereby ensure that the relevant
AML policies and procedures to which the firm adheres are fulfilled at all times.
KEY RESPONSIBILITIES
CLIENT RESEARCH
- Conduct a degree of personal research from public sources including:
- Familiarisation with a wide array of potential sources such as company registries, stock exchange websites, financial and legal regulators' websites, company search providers and external databases.
- Liaise with legal staff, support staff and research teams to obtain any outstanding CDD information.
- Liaise with Hogan Lovells Cadwalader support departments, notably the Finance, Research, Conflicts and also Personal Assistants.
- Where appropriate and where asked to, liaise directly with the firm's clients regarding CDD requirements.
- Assist those conducting CDD on new clients when required.
- Conduct risk rating reviews on clients taking into account the information gathered during the CDD process including research relating to ongoing investigations (adverse press) against certain clients and determining whether a risk level of a client may be lowered or should be raised.
- Utilise external subscription databases to screen existing clients, their directors and shareholders in order to identify PEPs, influential persons, presence on Sanctions lists, criminal activity and adverse press. Escalate these issues where appropriate.
- Review adverse press generated on the firm’s existing clients. Discount false positive hits or escalate serious hits to the firm’s General Counsel’s Office and the relevant fee earner.
- Attend to either discount or escalate ASM hits on existing clients.
REPORTS AND DATABASE ADMINISTRATION:
- Review the CDD held on existing clients of the firm by updating CDD held for clients registered since the implementation of the UK Money Laundering Regulations.
- Ensure that CDD is updated to the appropriate standard, including an enhanced level of due diligence where required.
- Document the evidence obtained during the CDD process in a clear and concise manner.
- Where it becomes clear when conducting Ongoing Monitoring or CDD that certain details of the client have changed since it has been registered as a new client, such as the client’s registered name, the parent group or the registered address, take appropriate action to update this on the 3E client database and communicate these changes to the respective stakeholders.
- Assist in maintaining the firm's PEP databases.
ADVISORY AND PROJECTS:
- Provide advice and guidance to partners, fee-earners and support staff in relation to the requirements of Compliance legislation and the interpretation and application of the firm's AML/CDD policy.
- Participate in administrative projects under the supervision of more senior Compliance Officers, specifically relating to Ongoing Monitoring.
REQUIREMENTS PROFILE
EDUCATION
- Grade 12 or equivalent (NQF 4) – Required
- BCom, LLB or equivalent (at least in final year of studies) – NQF 6/7 – Required.
MENTAL & ENVIRONMENTAL/LEGAL REQUIREMENTS:
- Must be able to handle pressure, setbacks and a high level of stress
- Must be able to communicate proficiently with global stakeholders, including colleagues based in international offices
- Must be able to work to deadlines
- Must be able to maintain strict adherence to confidentiality policies
- Must have clear criminal and credit records
EXPERIENCE:
- 1 year previous work experience, including any part time work.
- 1 year Compliance/AML working experience.
KNOWLEDGE & SKILLS AND COMPETENCIES:
SYSTEM SKILLS:
- Microsoft Office – Intermediate
KNOWLEDGE AND SKILLS:
- Knowledge of a centralised/ shared services environment
- Excellent oral and written communication skills
- Strong organisational, administrative and time management skills
- Commercial awareness
BEHAVIOURAL COMPETENCIES:
- Ability to handle queries efficiently with diplomacy and tact
- Ability to follow instructions precisely
- Adapting and responding to change
- Strong work ethic with an inherent sense of urgency
- Delivering results and meeting business expectations
- Working with others
- Delivering through others