Job Description
The Market Compliance Officer is responsible for oversight, direction and support for all regulatory compliance related matters within the Nordics Cluster (Sweden, Finland, Denmark, Norway) for American Express consumer products and services. The MCO will be responsible for ensuring that regulatory compliance risks relating to AXP legal entities based in the Nordics are adequately identified, assessed, monitored, controlled and for driving the Compliance Program incorporating Enterprise Wide requirements .
Principle Responsibilities:
- Advising the business on compliance-related matters, including but not limited to the regulatory implications of new and existing products, services and processes; resolution of compliance-related incidents and gaps; enhancements to the entity’s compliance framework; and the review and approval of business activities, as appropriate
- Support the development and embedding of appropriate and effective governance practices, controls and approval processes required at a business, legal entity and market level, to deliver and evidence regulatory compliance
- Designing and conducting or providing oversight of compliance risk assessments to identify and assist businesses in mitigating regulatory risks
- Lead the cluster activities for:
Managing the anti-money laundering compliance program consistent with the American Express Global Anti-Money Laundering Policy, legal entity and local laws and regulations, And where ensuring, where appropriate, the relevant individual is registered with the local authorities as the Money Laundering Reporting Officer for the LE.
2. Managing the sanctions and PEPs (Politically Exposed Persons) programs consistent with the American Express Global Sanctions and PEPs Policy, legal entity and local laws and regulations. - Managing, as Data Protection Officer, the supervision of personal data treatment process, according to the law and all the relevant provisions, instructions and directives enacted by the data protection
- Ensuring, along with the legal function, that there is a process in place to identify changes in relevant legislation, regulatory environment or changes in the business that have compliance –related implications
- Maintaining strong working relationships with all applicable supervisory and regulatory agencies
- Coordinating and, as necessary, managing supervisory and regulatory examinations and audits
- Undertaking the role requirements and registrations of CCO for the local LE or LE Branch
- Participating in local governance bodies, providing required Compliance reporting to such bodies and providing Compliance training to such bodies, as appropriate
- Managing implementation of Anti-Corruption activities as directed by Enterprise Compliance and according to local legal requirements
- Reporting to senior management and local authorities, as appropriate, the Compliance plan, results of second line of defense monitoring and testing, compliance-related risks and risk indicators, and the escalation of compliance issues and incidents
- Continue to build and enhance strong and effective partnerships with Compliance and GCO colleagues, with the business leaders we support, and with other key stakeholders
- Identify, analyze and report out identified concerns, emerging issues and deficiencies, to support effective risk management by the organization
- Ensuring the compliance program is documented in compliance manuals and procedures, and regularly updated and maintained
- Coordinating, and as necessary, developing and conducting customized training and communication plans to meet legal entity and business needs
Critical Challenges:
- Ability to operate in a complex matrix environment and understanding legal entity differentials
- Ability to work on multiple workstreams at the same time
- Ability to work on own initiative and ensure plans remain on track
- Support business initiatives and foster positive relationships with the business
- Maintain strong relationships with peers, compliance colleagues and relevant employees outside of the compliance world e.g. GCO, Finance, Risk Management, Consumer Services, and Global Services
- Provide strong internal communication on compliance policies, strategy, goals and program development
- Positively represent AXP during external forum and meetings to reflect strong market positioning from a regulatory perspective on compliance matters, whether to regulators or competitors
- Ability to utilize regulatory, industry and corporate expertise to navigate challenges to the compliance control environment within the business lines supported
- Implementation of Enterprise Wide Compliance Policies and processes collaborating with LOB and Central Program developers to align with local requirements
- Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.
Qualifications
- Regulatory compliance experience relating to the payments services and consumer credit sector
- Excellent understanding of compliance regimes, including ability to interpret AXP compliance requirements under laws and regulations
- Strong understanding of payment services systems and processes
- Strong Risk Management skills
- Strong Relationship, Communication and influencing skills; Good Business Acumen
- Ability to translate legislation and regulations into operational processes
- Ability to oversee projects in order to ensure compliance with legal and regulatory requirements
- Ability to manage multiple initiatives, to prioritize and reprioritize activities
- Ability to engage and maintain motivated resources
- Ability to present to Senior Management to assist their understanding of compliance Risks associated with their business
- Graduate and/or relevant professional qualification preferred – Law Degree, Compliance/AML Diploma, CAMS Certification with a Legal/Compliance/Control/Auditing background an advantage
- Solid understanding of the requirements of the regulatory environment and the wider implications of EU financial services laws in regards the business/activity supported
- Proven track record of excellent Leadership and People Management skills
- Excellent interpersonal skills with the ability to engage and influence at all levels.
