ICAP Executive Search & Selection is one of the premium consultancies and part of ICAP People & Employment Solutions, the largest HR Services Provider in Greece and Cyprus. With more than 50 years of experience, we specialize in assessing and recruiting Senior to Middle Level Executives across all sectors.
On behalf of our client, a global payments institution, we are currently looking for a high caliber and experienced professional for the position of AML Compliance Officer (AMLCO), based in Nicosia, Cyprus.
AML Compliance Officer (AMLCO) - Ref. (6116/AMLCO/ESS/CY)
Location: Nicosia, Cyprus.
Please note that the role is fully based in Cyprus and candidates must be willing to relocate.
Role Overview:
Our client is seeking a proactive and knowledgeable AML Compliance Officer (AMLCO) to define, manage, and enhance their Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and broader Financial Crime Compliance (FCC) programme. The AMLCO will ensure that the organisation’s FCC framework is robust, effective, and fully aligned with regulatory expectations, including those set by the Central Bank of Cyprus and other relevant authorities.
The successful candidate will be responsible for overseeing the suspicious activity reporting regime, providing expert compliance advisory, managing regulatory reporting, and maintaining strong governance frameworks. They will also ensure ongoing compliance with card schemes and key business partners’ requirements. This role requires close collaboration with key functions including Legal, Risk, Operations, Product, and Business Units to embed compliance considerations into both strategic initiatives and day-to-day operational decision-making.
Key Responsibilities:
Financial Crime Compliance (FCC)
- Oversee the Suspicious Activity Reporting (SAR) framework and act as the primary liaison with the relevant Financial Intelligence Unit (FIU).
- Advise the business on financial crime compliance matters.
- Review and opine on FCC risk escalations.
- Deliver compliance communications, training, and awareness programmes to employees.
- Act as a reviewer or approver within the company’s governance framework.
Compliance Advisory & Oversight
- Serve as a key source of regulatory knowledge and compliance expertise to the business.
- Review, develop, and maintain AML, compliance, and internal control policies and procedures.
- Lead and manage compliance project initiatives.
- Perform compliance monitoring, surveillance, and testing activities.
- Organise and coordinate related departmental work streams.
- Prepare and/or review responses to regulatory inquiries and audit requests.
- Participate in the enterprise-wide risk assessment process.
- Assess existing control functions and provide recommendations for improvement.
- Maintain and develop the company’s control framework for compliance effectiveness.
Regulatory Reporting & Liaison
- Prepare and submit required regulatory reports.
- Assess and approve regulatory submissions within the governance framework.
- Produce internal management information for oversight and decision-making.
- Manage regulatory communications and act as liaison with the Central Bank, MOKAS, and other law enforcement authorities.
Scheme & Business Partner Compliance
- Ensure ongoing compliance with the rules and requirements of card schemes and key business partners.
- Maintain effective communication with payment providers, card schemes, and strategic partners.