Head of Compliance, Australia

Head of Compliance, Australia
Xe, Australia

Experience
1 Year
Salary
0 - 0
Job Type
Job Shift
Job Category
Traveling
No
Career Level
Telecommute
No
Qualification
Associate Degree
Total Vacancies
1 Job
Posted on
Feb 27, 2021
Last Date
Mar 27, 2021
Location(s)

Job Description

Xe was one of the first businesses built on the internet, having begun its life in Canada in 1993 as Xenon Laboratories. Our Universal Currency converter was launched in 1995 and it has grown into one of the most popular currency sites in the world, with over 280 million users worldwide. In 2015, Xe was purchased by Euronet Worldwide, Inc. (Nasdaq: EEFT), and joined forces with Euronet’s HiFX brand, a leading international money transfer business, to offer Xe’s users access to reliable money transfer services as well as currency information under the Xe brand. Today, our platform is used by thousands of businesses from small-to-medium-sized enterprises, to Fortune 500 companies.

We continue to have ambitious growth plans as we work towards becoming the world’s most used, most loved and most trusted currency exchange service, helping more than a billion people around the world.

We’re proud of what we do and how we do it, but most importantly why we’re here. We empower people to know more and do better.because behind every currency exchange query or transaction is a person trying to accomplish something important.

How will you help Xe become more successful?

Reporting into the Head of Compliance APAC, The Head of Compliance AU (HOC) is responsible for the Australia Compliance and Regulatory framework applicable to Xe Australia, and for managing the anti-money laundering, counter-terrorist financing, and consumer fraud prevention programs , ensuring that Xe AU products and services offered are in compliance and the operations are consistent with regulatory requirements and conditions.

The HOC is a Controlled Function and assumes the relevant regulatory position as the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Compliance Officer, as wells as serves as the point of contact with any regulatory or supervisory body in AU.

The key priority and focus of this role is to design and manage programs and systems and controls to ensure that the Xe AU business and operations are conducted within compliance to existing laws and regulations, as well as aligned with regulatory guidance and expectations, and oversee that risks identified are timely and adequately mitigated.

Requirements

  • Own, develop and maintain a Risk Assessment Program that includes an assessment reasonably designed to cover the current financial crimes risks of the Australian operations (ML/TF/Consumer Fraud), which shall cover products, jurisdictions, customers, counterparts, and compliance operations.
  • Ensure that risk assessment guidelines issued by the Compliance Money Transfer Segment of the parent company (EWI) are followed and applied, along with those specific risk assessments requirements expected by the regulatory body in the jurisdiction.
  • Ensure that the risk assessment includes regular testing of the effectiveness of the current system and controls for detecting and preventing financial crimes.
  • Escalating relevant risk matters to the Head of APAC, the Global Risk and Assurance Manager, the Risk Committee, and the Board of Directors, proposing mitigating solutions to risks identified and ensuring in coordination with the Global Risk and Assurance Manager that risks are mitigated.
  • Ensuring compliance suite of policies and procedures correspond to busines needs while in compliance with regulatory requirements and the Company’s risk appetite;
  • Oversees implementation and maintenance of routine regulatory compliance monitoring for the business ensuring adequate/timely communication of matters of interest to relevant forums/individuals;
  • Maintains systems and procedural excellence through regular monitoring, effective root cause analysis and continuous improvement and acts as Risk Monitor / Individual Controller for nominated risks within the Risk Matrix;
  • Provide regular visibility to the Head of apac, senior management, the local Risk Committee and global risk forum, regarding the effectiveness of the compliance function, as it relates to existing and upcoming Regulatory Environment, Risk Assessments, AML Program, Sanctions Program, Consumer Fraud Prevention, Complaints Handling, and Law Enforcement Requests;
  • Responsible for making decisions in relation to policy exceptions and issues escalation;
  • Develops, manages and responsible for policy and decisions in relation to AML / Compliance across business;
  • Provides input and consultancy (operational) into relevant business policies and operational plans impacted by legal, regulatory and risk/compliance issues;
  • Maintains up to date knowledge and expertise on core business activities and assists in the analysis of proposed business initiatives from a risk based regulatory perspective;
  • Champions a commercial approach to managing compliance across the business which includes leading AML

Job Specification

Job Rewards and Benefits

Xe

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