Ballina Credit Union Ltd. is seeking an experienced Anti-Money Laundering Compliance Officer (AMLCO) to manage our AML activities.
The AMLCO will ensure the Credit Union's full compliance with all relevant anti-money laundering (AML) and counter-terrorist financing (CTF) legislation, including the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 and subsequent amendments.
The successful candidate will be responsible for the development, implementation, and oversight of AML policies and procedures, as well as providing guidance and support on AML-related matters to internal stakeholders This is a critical role within the Credit Union, requiring the AMLCO to be the point of contact for all AML-related issues, while liaising with regulatory authorities such as the Central Bank of Ireland, An Garda Sochna, and Revenue Commissioners.
The AMLCO will play a key role in maintaining the Credit Unions strong compliance culture while ensuring minimal disruption to member services.
Key Responsibilities: AML Policy & Procedures: Develop, implement, and maintain the credit union's compliance and AML/CTF policies and procedures in compliance with applicable legislation and industry best practices.
Ensure regular review and updates to reflect changes in laws and regulations.
Suspicious Transaction Reporting: Oversee the identification, assessment, and reporting of suspicious transactions (STRs) to An Garda Sochna and the Revenue Commissioners.
Ensure proper documentation and record-keeping of STRs.
Customer Due Diligence (CDD): Ensure the Credit Union meets its obligations regarding Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) requirements.
Conduct ongoing monitoring of member transactions to identify potential risks.
Regulatory Reporting: Prepare and submit all required reports to the Central Bank of Ireland and other relevant authorities in a timely and accurate manner.
Ensure all internal reporting processes are aligned with regulatory requirements.
Training & Awareness: Deliver AML and compliance training to all staff, directors, and volunteers to ensure awareness of their obligations under AML/CTF legislation.
Keep training records updated and conduct regular refresher sessions.
Internal Compliance Monitoring: Regularly review and monitor credit union transactions, systems, and processes to ensure compliance with AML/CTF policies.
Implement regular internal audits and gap analyses to identify and address potential areas of improvement.
External Relationships: Serve as the primary point of contact with external bodies such as the Central Bank of Ireland, An Garda Sochna, and Revenue Commissioners.
Respond to inquiries and requests from these authorities as required.
Compliance Culture: Promote, embed, and enhance best practices by fostering, encouraging, and cultivating a strong compliance culture within the credit union.
Compliance Support: Facilitate compliance with the Credit Union Act, the Criminal Justice (Money Laundering and Terrorist Financing) Acts, and other applicable regulations by ensuring policies, processes, and member documentation are regularly reviewed and updated.
Risk Assessment: support ongoing risk assessments related to money laundering and terrorist financing.
Ensure that these assessments are up to date and reflective of the Credit Unions risk profile.
Record Keeping: Maintain accurate records of all AML-related activities, including suspicious transaction reports, training records, and policy updates, in accordance with regulatory requirements.
Stay informed of evolving AML/CTF legislation and regulatory guidelines, maintain a high professional competency, attend training and workshops as required, and comply with all policies and procedures as set out by the credit union.
Health and Safety:Be aware and comply with all Health & Safety regulations as directed by the credit union, ensuring adherence to the Health & Safety Policy of the credit union.
Qualifications & Experience: Essential: Ideally candidate would hold a qualification such as a Certificate/Diploma in compliance, QFA or similar qualification relevant to the role A minimum of 2 to 3 years experience in a similar AML/CTF compliance role or the financial services sector.
Strong understanding of Irish/ EU Legislation.
Excellent analytical, communication, and organisational skills.
Expert knowledge of MS Excel.
Desirable: Professional certification in AML or Compliance (e.g., ACOI, ICA, or LCOI).
Professional Qualification in Compliance (LCOI/ACOI etc) Pathways Diploma in Credit Union Operations (ROI) QFA Qualified Financial Adviser (QFA) / Accredited Product Adviser (APA) ACCUP A third-level qualification in a relevant field (e.g., Business, Law, Finance, Compliance, or Risk Management).
Remuneration will be commensurate with qualifications & experience.
Shortlisting may apply, and assessment will be completed based on the information provided in the application The closing date for receipt of applications is 8th of May 2025.
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Ballina Credit Union Limited is regulated by the Central Bank of Ireland Canvassing will disqualify.
Skills: AML Compliance Finance Policy Development regulation