Compliance Specialist

We have an exciting opportunity to join our London office as a Compliance Specialist to help support our growing Firm. This is an excellent opportunity for someone with law firm compliance experience who would like to work for an elite US firm and become a key member of the compliance team. This will be a hands-on role which operates across the practice groups offering a varied scope of regulatory and compliance responsibilities. We are looking for someone who is proactive, enjoys working in a collaborative and integrated environment, and is comfortable taking ownership of their role.

Experience of working in compliance in a law firm environment, with knowledge and understanding of UK AML requirements, is essential. If you think this is the role for you, we look forward to hearing from you.

Key responsibilities include, but are not limited to, the following:

• Maintaining compliance with the firm’s AML PCPs in line with the Money Laundering Regulations 2017 (and the equivalent local laws in other jurisdictions), as amended and updated.
• Reviewing, updating and improving the firm’s existing PCPs based on applicable legislation and developing guidance.
• Remaining up to date with and monitor legal and regulatory developments in AML (including sanctions screening) and law firm regulation/compliance.
• Ensuring that the on-boarding of new clients and new matters complies with the requirements of applicable AML legislation and the Firm’s PCPs.
• Conducting client due diligence research, including PEP and sanctions screening, using various third-party databases and web-based research.
• Obtaining information on, and analysing, applicable source of wealth and source of funds.
• Reviewing, interpreting and risk assessing the results of the research and completing client and matter risk assessments.
• Managing on-going status monitoring and report internally as required.
• Assisting with regular independent audits and designing and implementing of appropriate audit improvement plans.
• Assisting with client auditing processes.
• Assisting with general regulatory/compliance matters, including the insider list process, gifts and hospitality recording; modern slavery, managing on-line compliance training, the SRA practising certificate renewal process, maintaining records and providing assistance with compliance-based work-streams and projects, as required.
• Providing training to partners, fee earners and staff at all levels relating to AML legislation and the firm’s PCPs, as well as SRA regulation.
• Working closely with team colleagues, lawyers, secretaries, the Compliance Team in Asia, the General Counsel Team in New York and the Firm’s COLP and MLRO/MLCO.
• Contributing to the Compliance Committee Meetings and other meetings with key compliance stakeholders (e.g., COLP).
• Responding to and communicating with partners, fee earners and staff at all levels relating to the interpretation of relevant legislation, regulation and the firm’s PCPs, explaining AML related concepts and requirements to colleagues who may be unfamiliar with client due diligence and risk assessments.
• Working with the Finance Team to ensure that adequate checks are conducted in connection with funds received into the firm’s accounts (including third party payers).
• Acting as a first point of escalation and ensuring enquiries about compliance are managed in a timely and efficient manner.
• Gaining a detailed understanding of the firm’s Aderant new matter workflow to be able to respond to queries about this from all levels of staff.
• Assisting with processing vendor invoices for the Compliance Team.
• Ad hoc compliance related duties and projects as required.

Qualifications/Position Requirements:

• Ideally 5+ years’ experience in AML compliance in a law firm environment, with exposure to international offices.
• Comprehensive knowledge and understanding of applicable AML rules, including the current UK AML Regulations and Guidance.
• An appreciation of commercial and legal terms, basic corporate structures and corporate practice areas.
• Strong computer skills and technical proficiency with Microsoft Office – Word, Excel, Outlook & PowerPoint; an ability to effectively utilise research applications and extract relevant information.