Director, Compliance, AMLCO

Role Overview

Regulatory Appointment Requirements

• Serve as the nominated AML/CTF Compliance Officer for WUFSA.
• Act as primary contact with AUSTRAC regarding AML/CTF matters.
• Oversee day-to-day compliance with AML/CTF legislation, sanctions obligations, the AML/CTF Program and WU global standards.
• Escalate material AML/CTF risks, breaches and deficiencies to Senior Management and the Governing Body.
• Formally report AML/CTF compliance outcomes and program effectiveness to the Governing Body at least annually.
• Maintain eligibility and meet competency, authority, independence and fit-and-proper requirements.

AML/CTF Program Governance and Oversight

• Own and oversee the WUFSA AML/CTF Program.
• Maintain AML/CTF policies, procedures, controls and governance documentation.
• Ensure AML/CTF frameworks remain aligned with legislative requirements and regulatory expectations.
• Oversee implementation of AML/CTF controls across all designated services.
• Coordinate periodic reviews and updates of the AML/CTF Program.
• Oversee remediation of compliance deficiencies, audit findings and regulatory issues.

AML/CTF Compliance Officer and MLRO Responsibilities

• Perform statutory responsibilities of the AML/CTF Compliance Officer.
• Ensure compliance with AML/CTF reporting obligations including SMRs, TTRs and IFTIs.
• Oversee suspicious activity investigations, decision-making and escalation processes.
• Oversee effectiveness of CIP, CDD, EDD and ongoing customer monitoring controls.
• Ensure AML/CTF risk considerations are incorporated into new products, services, systems and business change initiatives.
• Oversee sanctions compliance controls and escalation of potential sanctions-related matters.
• Ensure AML/CTF record-keeping obligations are maintained and periodically tested.
• Support regulatory examinations, inspections, enquiries and information requests.

Financial Crime Risk Management

• Oversee design and execution of enterprise AML/CTF risk assessments including customer, product, channel and geographic risk assessments.
• Ensure effective management of financial crime risks including money laundering, terrorism financing, proliferation financing, sanctions and fraud.
• Ensure enhanced due diligence requirements are effectively implemented.
• Review and challenge other business risk assessments as required.
• Escalate material financial crime risks to senior management and governance forums.

Governance, Board Reporting and Regulatory Engagement

• Prepare periodic AML/CTF compliance reporting for Senior Management, Governing Body and other governance forums.
• Provide formal AML/CTF Compliance Officer reporting to the Governing Body at least annually.
• Escalate material AML/CTF incidents, compliance breaches and significant control deficiencies.
• Present significant compliance issues, regulatory developments and financial crime trends to governance forums.
• Oversee responses to internal/external audit, compliance review and regulatory findings.
• Maintain effective relationships with regulators, governance stakeholders and internal control functions.
• Provide strategic advice and independent challenge on AML/CTF and financial crime risk matters.

Monitoring, Training and Program Enhancement

• Oversee AML/CTF compliance monitoring activities.
• Ensure AML/CTF training programs remain effective, current and risk based.
• Promote and maintain a strong financial crime compliance culture.
• Coordinate independent review and evaluation of the AML/CTF Program at prescribed intervals.
• Monitor remediation and closure of findings arising from independent reviews.
• Drive continuous improvement initiatives across financial crime compliance frameworks, systems and controls.

Core Factors

• Recognised subject matter expert in AML/CTF legislation, financial crime compliance, sanctions compliance, governance and regulatory engagement.
• Extensive knowledge of money laundering, terrorism financing, proliferation financing and sanctions risks relevant to financial services and payments.
• Maintains awareness of emerging financial crime typologies, regulatory developments and industry best practices.
• Provides authoritative advice to Senior Management, governance forums and business stakeholders.
• Exercises independent judgement in complex and high-risk regulatory and compliance matters.

Work Arrangement

• Location: Sydney, Australia.
• Full time.
• Work shift: Hybrid.