Head of Compliance and Risk – Blockchain News, Opinion, TV and Jobs

July 31, 2020 Editor Coinbase 0


Dublin, Ireland
Coinbase
Location: Dublin, Ireland Coinbase has built the world’s leading compliant cryptocurrency platform serving over 30 million accounts in more than 100 countries. With multiple successful products, and our vocal advocacy for blockchain technology, we have played a major part in mainstream awareness and adoption of cryptocurrency. We are proud to offer an entire suite of products that are helping build the cryptoeconomy, and increase economic freedom around the world. There are a few things we look for across all hires we make at Coinbase, regardless of role or team. First, we assess whether a candidate demonstrates our values: Clear Communication, Positive Energy, Efficient Execution, and Continuous Learning. Second, we look for signals that a candidate will thrive in a culture like ours, where we default to trust, embrace feedback, disrupt ourselves, and expect sustained high performance because we play as a championship team. Finally, we seek people with the desire and capacity to build and share expertise in the frontier technologies of crypto and blockchain, in whatever way is most relevant to their role. Read more about our values and culture here. The Ireland Head of Compliance and Risk will have overall responsibility for the establishment and maintenance of an effective Compliance Program including exam management, advice on impact of new regulations, and anti-money laundering (AML) and counter-terrorist financing (CTF) systems and controls. Compliance advisory role which includes: Ireland Compliance advisor to the global business (including but not limited to SME on AML/CTF/AB&C, regional regulatory best practice, sales, financial promotions, operations, payments, complaints, policies and procedures, systems and controls, governance, risk mitigation, law enforcement and suspicious activity etc). The person will be based in Ireland. What you’ll be doing (ie. job duties): Maintain all external Ireland Compliance relationships with: i) regulators; ii) banking partners; iii) industry working groups; and iv) third party Compliance vendors. Responsible for keeping abreast of legal and regulatory developments in Ireland and Europe that pertain to Coinbase’s products and services, and for rolling out necessary changes in a timely and cost-effective manner. Carry out regular assessments of the adequacy of systems and controls to ensure that risks are managed effectively. Ensure that policies are updated to meet changing regulatory and business requirements. Interpret the relevant regulations and prepare summaries to be presented to management. Liaise with other functional divisions to manage or assist on projects to cover compliance tasks such as documenting outcomes and enhancing policies and procedures. Review and approve recommendations on appropriate changes to global business models, practices, controls or processes required to comply with legislative/regulatory changes and best practice. Liaise with business and product teams as appropriate. Keep abreast of sound Compliance practices and in particular take into account and implement the requirements of applicable legislation and the various reporting requirements of the Central Bank Report to Senior Management on an ongoing basis and to the Board at least quarterly Manage and develop global relationships with key internal stakeholders, regional compliance and senior management in order to promote a consistent approach to the development and execution of an effective and integrated control environment. Ownership of awareness and regulatory training content. Oversight over the design, development and rolling out of the Ireland Compliance Monitoring Programs for: Anti-Bribery and Corruption practices Mandatory regulatory reporting in accordance with local requirements. Complaints handling including training and ongoing coordination with relevant stakeholders. Designing the updating the policy framework (including creating a formal risk matrix) including maintenance of Coinbase Ireland’s AML/CFT Risk Assessment Framework and resulting Risk Register and any associated remediation items and action plans; Track all relevant Internal Audit and Regulatory Exam items including follow-up of outstanding Risk and Compliance issues from internal/external audits or reviews and regulator visits/inspections; Responsible for Compliance training of local employees including developing and delivering Compliance training to relevant employees and to the Coinbase Ireland Board of Directors and other applicable directors and officers; Work with the Head of International Compliance, to respond to regulatory comment letters Manage the Ireland integration and implementation of relevant projects e.g. sanctions, onboarding. Closely participate in internal business committees and working groups. Design an effective 2nd Line of Defence Compliance Monitoring and Testing Framework for the business in order to: Identify regulatory program requirements. Validate compliance against established policies, procedures and applicable rules, standards and regulations. Work with regional Compliance departments to develop regional monitoring and testing programs, including the tracking and reporting of the 1st Line of Defence’s remediation of compliance issues. Escalate regulatory compliance issues or material incidents of non-compliance to the Head of International Compliance. Periodic key reporting and notifications both internally and externally as required. Implement and manage the Enterprise Risk Management Framework for Coinbase Ireland in conjunction with Senior Management Maintain the Risk Register by actively monitoring that identified risks and agreed controls have been embedded within the business Work with Senior Management to provide independent assurance on the key operational risks of the business, partnering with the business to address any identified gaps Establish and facilitate a Compliance culture within Coinbase Ireland to help minimise the risk of regulatory failure and potential resultant sanctions and financial and reputational damage Establish and maintain the regulatory Compliance framework within which Coinbase Ireland operates; Establish and maintain the Annual Compliance Plan Establish and continue to assess the appropriateness of Coinbase Ireland’s compliance related policies and procedures and, where necessary, formulate proposals for amendments; Act as a contact point within Coinbase Ireland for Compliance and ethics queries from staff members; MLRO: Manage and implement appropriate AML and CTF policies and procedures Ensure that AML and CTF requirements are considered as part of the development of new products, or service changes. Maintain up to date AML documentation. Assist in the development of report to the Board on a regular basis detailing the operation and effectiveness of the systems and controls used to combat financial crime. Arrange and assist with regulatory visits and audit inspections. Maintain an internal reporting process for receiving internal Suspicious Activity Reports (SARs). What we look for in you (ie. job requirements): A professional Compliance or finance qualification and membership of a recognised professional body would be advantageous, but not a prerequisite (PRMIA, LCOI or ACAMS); Previously approved by the Central Bank as PCF-14 and/or PCF-15 Comprehensive knowledge of financial services regulations; and retail/ institutional level products Experience in managing, developing and administering internal controls and processes, corporate governance, internal controls evaluation, Compliance, Risk and substantive testing is a key requirement; Ability to work collaboratively with a broad range of business functions, with an emphasis on senior management. Expertise – leader when it comes to regulatory knowledge in Europe, specifically Ireland Leadership – prepared to voice concerns and challenges and key stakeholder engagement skills and experience required Demonstrated ability to generate and execute strategies across a global organisation. Skilled at executing large, multi-functional and cross-organisational assignments that requires in-depth analysis. Ability to develop, foster and maintain effective working relationships with diverse groups of people within the organisation as well as with external stakeholders and vendors. Ability to thrive in fast-paced remote environment. Exceptional interpersonal skills and the innate ability to work unsupervised in a structured manner. 7+ years of experience in Compliance/Risk related business functions; Excellent oral and written communication – fluent English; Track record of building solid working relationships with boards, senior management and regulators; Capacity to meet deadlines while maintaining quality standards and ensuring effective time management; Commitment to Diversity Keen interest in digital currencies. Professional qualification preferred. Related bachelor’s level degree required. This role is a controlled function (“CF”) as defined by Section 21 of the Central Bank Reform Act, 2010: CF-1 Ability to exercise a significant influence on the conduct of the affairs of a regulated financial service provider. CF-2 Ensuring, controlling or monitoring compliance This role is also a pre-approval controlled function (“PCF”) as defined by Section 21 of the Central Bank Reform Act, 2010: PCF-14 Chief Risk Officer PCF-15 Head of Compliance with responsibility for Anti-Money Laundering and Counter Terrorist FinancingDublin, Ireland
Coinbase
Location: Dublin, Ireland
Coinbase has built the world’s leading compliant cryptocurrency platform serving over 30 million accounts in more than 100 countries. With multiple successful products, and our vocal advocacy for blockchain technology, we have played a major part in mainstream awareness and adoption of cryptocurrency. We are proud to offer an entire suite of products that are helping build the cryptoeconomy, and increase economic freedom around the world.

There are a few things we look for across all hires we make at Coinbase, regardless of role or team. First, we assess whether a candidate demonstrates our values: Clear Communication, Positive Energy, Efficient Execution, and Continuous Learning. Second, we look for signals that a candidate will thrive in a culture like ours, where we default to trust, embrace feedback, disrupt ourselves, and expect sustained high performance because we play as a championship team. Finally, we seek people with the desire and capacity to build and share expertise in the frontier technologies of crypto and blockchain, in whatever way is most relevant to their role.

Read more about our values and culture here.

~ Advertisement ~

The Ireland Head of Compliance and Risk will have overall responsibility for the establishment and maintenance of an effective Compliance Program including exam management, advice on impact of new regulations, and anti-money laundering (AML) and counter-terrorist financing (CTF) systems and controls. Compliance advisory role which includes: Ireland Compliance advisor to the global business (including but not limited to SME on AML/CTF/AB&C, regional regulatory best practice, sales, financial promotions, operations, payments, complaints, policies and procedures, systems and controls, governance, risk mitigation, law enforcement and suspicious activity etc). The person will be based in Ireland.

What you’ll be doing (ie. job duties):

  • Maintain all external Ireland Compliance relationships with: i) regulators; ii) banking partners; iii) industry working groups; and iv) third party Compliance vendors.
  • Responsible for keeping abreast of legal and regulatory developments in Ireland and Europe that pertain to Coinbase’s products and services, and for rolling out necessary changes in a timely and cost-effective manner.
  • Carry out regular assessments of the adequacy of systems and controls to ensure that risks are managed effectively. Ensure that policies are updated to meet changing regulatory and business requirements.
  • Interpret the relevant regulations and prepare summaries to be presented to management. Liaise with other functional divisions to manage or assist on projects to cover compliance tasks such as documenting outcomes and enhancing policies and procedures.
  • Review and approve recommendations on appropriate changes to global business models, practices, controls or processes required to comply with legislative/regulatory changes and best practice. Liaise with business and product teams as appropriate.
  • Keep abreast of sound Compliance practices and in particular take into account and implement the requirements of applicable legislation and the various reporting requirements of the Central Bank
  • Report to Senior Management on an ongoing basis and to the Board at least quarterly
  • Manage and develop global relationships with key internal stakeholders, regional compliance and senior management in order to promote a consistent approach to the development and execution of an effective and integrated control environment.
  • Ownership of awareness and regulatory training content.
  • Oversight over the design, development and rolling out of the Ireland Compliance
  • Monitoring Programs for:
    • Anti-Bribery and Corruption practices
    • Mandatory regulatory reporting in accordance with local requirements.
    • Complaints handling including training and ongoing coordination with relevant stakeholders.
  • Designing the updating the policy framework (including creating a formal risk matrix) including maintenance of Coinbase Ireland’s AML/CFT Risk Assessment Framework and resulting Risk Register and any associated remediation items and action plans;
  • Track all relevant Internal Audit and Regulatory Exam items including follow-up of outstanding Risk and Compliance issues from internal/external audits or reviews and regulator visits/inspections;
  • Responsible for Compliance training of local employees including developing and delivering Compliance training to relevant employees and to the Coinbase Ireland Board of Directors and other applicable directors and officers;
  • Work with the Head of International Compliance, to respond to regulatory comment letters
  • Manage the Ireland integration and implementation of relevant projects e.g. sanctions, onboarding.
  • Closely participate in internal business committees and working groups.
  • Design an effective 2nd Line of Defence Compliance Monitoring and Testing
  • Framework for the business in order to:
    • Identify regulatory program requirements.
    • Validate compliance against established policies, procedures and applicable rules, standards and regulations.
    • Work with regional Compliance departments to develop regional monitoring and testing programs, including the tracking and reporting of the 1st Line of Defence’s remediation of compliance issues.
    • Escalate regulatory compliance issues or material incidents of non-compliance to the Head of International Compliance.
    • Periodic key reporting and notifications both internally and externally as required.
    • Implement and manage the Enterprise Risk Management Framework for Coinbase Ireland in conjunction with Senior Management
    • Maintain the Risk Register by actively monitoring that identified risks and agreed controls have been embedded within the business
  • Work with Senior Management to provide independent assurance on the key operational risks of the business, partnering with the business to address any identified gaps
  • Establish and facilitate a Compliance culture within Coinbase Ireland to help minimise the risk of regulatory failure and potential resultant sanctions and financial and reputational damage
  • Establish and maintain the regulatory Compliance framework within which Coinbase Ireland operates;
  • Establish and maintain the Annual Compliance Plan
  • Establish and continue to assess the appropriateness of Coinbase Ireland’s compliance related policies and procedures and, where necessary, formulate proposals for amendments;
  • Act as a contact point within Coinbase Ireland for Compliance and ethics queries from staff members;
  • MLRO:
    • Manage and implement appropriate AML and CTF policies and procedures
    • Ensure that AML and CTF requirements are considered as part of the development of new products, or service changes.
    • Maintain up to date AML documentation.
    • Assist in the development of report to the Board on a regular basis detailing the operation and effectiveness of the systems and controls used to combat financial crime.
    • Arrange and assist with regulatory visits and audit inspections.
    • Maintain an internal reporting process for receiving internal Suspicious Activity Reports (SARs).

What we look for in you (ie. job requirements):

  • A professional Compliance or finance qualification and membership of a recognised professional body would be advantageous, but not a prerequisite (PRMIA, LCOI or ACAMS);
  • Previously approved by the Central Bank as PCF-14 and/or PCF-15
  • Comprehensive knowledge of financial services regulations; and retail/ institutional level products
  • Experience in managing, developing and administering internal controls and processes, corporate governance, internal controls evaluation, Compliance, Risk and substantive testing is a key requirement;
  • Ability to work collaboratively with a broad range of business functions, with an emphasis on senior management.
  • Expertise – leader when it comes to regulatory knowledge in Europe, specifically Ireland
  • Leadership – prepared to voice concerns and challenges and key stakeholder engagement skills and experience required
  • Demonstrated ability to generate and execute strategies across a global organisation.
  • Skilled at executing large, multi-functional and cross-organisational assignments that requires in-depth analysis.
  • Ability to develop, foster and maintain effective working relationships with diverse groups of people within the organisation as well as with external stakeholders and vendors.
  • Ability to thrive in fast-paced remote environment.
  • Exceptional interpersonal skills and the innate ability to work unsupervised in a structured manner.
  • 7+ years of experience in Compliance/Risk related business functions;
  • Excellent oral and written communication – fluent English;
  • Track record of building solid working relationships with boards, senior management and regulators;
  • Capacity to meet deadlines while maintaining quality standards and ensuring effective time management;
  • Commitment to Diversity
  • Keen interest in digital currencies.
  • Professional qualification preferred.
  • Related bachelor’s level degree required.
  • This role is a controlled function (“CF”) as defined by Section 21 of the Central Bank Reform Act, 2010:
    • CF-1 Ability to exercise a significant influence on the conduct of the affairs of a regulated financial service provider.
    • CF-2 Ensuring, controlling or monitoring compliance
  • This role is also a pre-approval controlled function (“PCF”) as defined by Section 21 of the Central Bank Reform Act, 2010:
    • PCF-14 Chief Risk Officer
    • PCF-15 Head of Compliance with responsibility for Anti-Money Laundering and Counter Terrorist Financing

Read More