Policy Compliance Analyst
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Policy Compliance Analyst
Org ID, Risk Managed Services
Product or Service
Org ID is a key component of Thomson Reuters's Know Your Customer (KYC) Industry Solutions business. Org ID facilitates regulated entities' compliance with anti-money laundering (AML) laws and regulations. Org ID's focus is compliance with identity verification for legal entity clients. The Org ID service also completes identity verification for legal entity individual related parties.
- The Policy Team is responsible for the Org ID Policy, Customer Due Diligence (CDD) Standards, related Lists, Screening Policy and Monitoring Policy (collectively "the Policy"), as well as equivalent Policy documents for each jurisdictional Utility. The Policy Team plays a key role throughout the Org ID client lifecycle through its support of other Org ID teams such as Business Development, Client Experience and Operations.
- Policy Team members specialize in certain areas according to expertise, interests and role requirements. However, the Team's success is based upon its practice of collaborating and working collectively as single unit. This allows for a dynamic environment where team members are continually challenged to expand skill sets and expertise, and also to support each other achieving team goals.
- The Policy Compliance Analyst will report to the Head of Policy Compliance, and in doing so, will assist the Global Head of Policy and Standards, Risk Managed Services (RMS) in the development, maintenance, operational implementation and oversight of the Policy. From time to time, the Policy Compliance Analyst may be called upon to also support the Regional Policy Heads, the Head of Policy Governance and Change and the Head of Regulatory Research and Market Insight.
Responsibilities / Accountabilities:
- Provide oversight, challenge and critical friend support to the Org ID teams to ensure that at all stages of the client lifecycle, the Policy is accurately described and operationally executed, in both letter and spirit
- Serve as a point of escalation for Policy related issues raised by internal and external stakeholders
- Provide input to and periodic oversight of standard operating procedures (SOPs) to ensure they are fit for purpose from a Policy compliance perspective
- Engage with subscribing financial institutions (SFIs) to support service delivery activities including pre and post implementation work
- Proactively analyse requests for visas (client-specific requirements) to assess whether Policy change is warranted based on the number and nature of visas in a particular Policy rule set
- Support the Client Engagement Team by assisting with responses to Policy related inquiries and requests from clients
- Draft business documentation as requested i.e., AML Rep Letter
- Produce relevant project plans and communication plans
Guidance and Training:
- Analyse and respond to Policy and/or procedure queries from colleagues, SFIs and other service users
- Provide guidance to the Operations Team on Policy interpretation e.g., in creating and maintaining client profiles
- Respond to Subject Matter Expert (SME) and Knowledge Management Training (KMT) Policy queries through management of the Policy mailbox
- Ensure that Policy updates are correctly interpreted and cascaded downstream to operational processes and systems i.e., correctly applied within the business
- Train other Org ID teams in money laundering and sanctions risk awareness and management
- Deliver focused training to support the Operations SME and KMT Teams on the application and appreciation of risk when responding to client communications, escalating issues, completing profile reports (PRs) etc.
- Lead workshops to emphasise the client perspective on the profiles Org ID provides to its clients
- Support the global Policy change management process
- Work with technology teams to devise and draft detailed business requirements for requested technical changes
- Conduct dip sampling of PRs and client communications to monitor effectiveness
- Identify recurring operational implementation issues and propose solutions to address them
- Lead and facilitate Policy Advisory Forum (PAF) sessions
- Represent the Policy Team at internal committees/meetings, including:
- Policy Technology Operations Forum (PTOF)
- Technology open defects discussions
- Represent the Policy Team at external client meetings or other engagements as needed
Other Supporting Responsibilities
As needed, support Regional Policy Heads including:
- Support the Business Development, Client Consultant and Client Experience Teams in responding client inquiries
- Conduct Policy Gap Analyses
- Produce fit for purpose presentation material for meetings, conferences, seminars and training for both internal and external stakeholders
As needed, support the Head of Policy Governance and Change including:
- Update the Org ID Policy with approved changes and communicate Policy changes to internal and external stakeholders
- Work with the Technology Team to ensure required system changes are prioritized and implemented accordingly
- Work with other Org ID teams to ensure agreed Policy changes are reflected in relevant SOPs and technology systems
- Prepare for the PAF and Compliance Committee
As needed, support the Head of Regulatory Research and Market Insight including:
- Research, analyse and stay current on existing and new global AML and KYC laws and regulations through regulatory "horizon scanning" and other means
- Provide advice on global AML and KYC laws and regulations to Org ID teams
- Draft and update reference material e.g., Market Summaries and Enforcement Reports and support work on white papers related to Regulatory developments and best practices
- The Policy Compliance Analyst reports to the Policy Compliance Head and works closely with Org ID Policy team colleagues and other Org ID business units including Business Development, Client Consultants, Operations, Technology and the SFIs.
Required Essential Skills/Experience:
- Successful candidates will be ethical, highly motivated, diligent, self-starters, team players and have the gravitas to engage with senior internal and external stakeholders.
Successful candidates should have:
- Intellectual interest in legislative and regulatory frameworks
- Knowledge of AML, KYC and sanctions laws and regulations
- Experience of translating Policy requirements to operational requirements
- Business experience and analytical skills including:
- Analysing complex issues and proposing alternative solutions to issues
- Analysing concerns/issues raised by stakeholders in multiple global locations
- Identifying solutions through creative thinking and goal-oriented research and analysis
- Amending policies and preparing guidance and procedures to implement changes
- Executing complex projects
- Building rapport and strong working relationships with internal and external stakeholders at all levels of seniority
- Developing consensus across disparate internal and external stakeholders
- Managing change with multiple stakeholders
- Liaising with dispersed teams
- Working with clients
- Working under pressure to meet tight deadline
- Excellent written and oral communications skills
- Excellent PowerPoint and Excel skills
- Strong leadership skills
- Ability to manage, monitor and prioritize multiple projects
- Ability to demonstrate analytical and strategic thinking
- Prior employment with a regulated financial institution
- Prior employment with a Regulator
- Knowledge of client data and processes e.g., completion of KYC records
- Basic understanding of KYC on-boarding workflow platform e.g., GoldTier
- Knowledge of KYC utilities and/or managed service providers
Education / Certifications:
- University degree, preferred
- International Compliance Association (ICA), Diploma level in AML and/or KYC or Association of Certified Anti-Money Laundering Specialists (ACAMS) certification, preferred
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