Chief Compliance Officer

The Chief Compliance Officer will oversee compliance within the Firm to ensure that financial and operational procedures and personal conduct comply with all relevant and applicable laws, regulations, and contractual agreements in a manner that supports the business and its operational areas. The COO wields two levels of responsibilities;

• guarantee that the Firm is conducting its business in adherence to national and international laws/regulations that pertain to the FinTech industry;
• ensure that professional standards, accepted business practices, and internal systems of control necessary to achieve compliance with the external rules are followed.

The CCO will be reporting directly to the CEO and providing information about important issues, violations program’s activities, and effectiveness.

Responsibilities

• Manage and execute policies and procedures which govern the Firm’s compliance program;
• Monitor and test policies and procedures. Always be up to date with ongoing legislation changes, regulatory recommendations and industry best practices of AML/CTF, KYC, Client onboarding, PEP and sanction screening. Responsible of the implementation and ensuring constant compliance of the KYC, AML and CTF procedures;
• Keep an eye on the performance of the compliance program, carry out risk assessments and compliance reviews to ensure policies and procedures are being followed;
• Responsible for establishing and setting the tone of compliance throughout the organisation;
• Carry out periodic evaluation of the compliance Programs and make appropriate changes and improvements;
• Govern the responsibility to report misconduct and noncompliance, the path for reporting, and protection from retaliation;
• Provide guidance on the effective response to detected problems and proffer recommendations for corrective action as appropriate;
• Designing and implementing the Firm’s AML/CTF training programme and ensuring it always meets applicable legislation; conducting internal trainings according to yearly training plan, training documentation, organising initial trainings and trainings for management staff;
• Taking the role of MLRO in compliance with legal acts. Ensuring accuracy when preparing analysis, reports and presentations related to KYC, AML/CTF and regulatory compliance, including Management Information reporting to authorities, CEO and the Board;
• Ensuring timely submission of compliance reports to the Bank of Lithuania;
• Main contact person for local authorities including Financial Crime Investigation Service and Bank of Lithuania, attend relevant trainings and meetings.

Requirements

• Bachelor’s degree in Law, Finance, or Business Administration, or in a related field
• Certification: Certified Compliance & Ethics Professional (CCEP), Association of Certified Anti-Money Laundering Specialists (ACAMS) is considered an advantage;
• At least six years compliance experience in the financial sector preferable within EMIs, banks and/or other financial institutions.
• Possess knowledge of national and international regulations guiding businesses in the FinTech industry. It is also important to have experience in evaluate laws and regulations that affect EMIs;
• Leadership skills: The chief compliance officer is a top executive position that involves developing, managing, and leading teams, as well as establishing and implementing procedures with respect to the entire organisation. Hence, it is important that the CCO possess extensive leadership capacity to develop, influence, direct, and manage teams, as well as influence/liaise with regulatory authorities;
• Organisational skills: The role of CCO is a senior position, so it is essential with multi-task, prioritise, maintain flexibility in fast-paced environment, and meet or exceed deadlines;
• Problem-solving skills: it is important the CCO is detail oriented, analytical, curious and observant, able to recognise problems and confront conflicts and difficult issues in a professional manner;
• Communication skills: excellent writing and verbal communication skills in Lithuanian and English for reporting purposes, performing liaison duties, and relating to individuals in the workplace.