Head of Compliance, AMLCO

Role Overview

• Act as the designated Head of Compliance / AMLCO under the applicable Cyprus regulatory requirements.
• Own the company's compliance and AML/CTF strategy, setting the direction for how the function operates and evolves as the business grows.
• Advise the Board, CEO, and senior management on regulatory risks, emerging obligations, and the company's compliance posture.
• Define the company's risk appetite for financial crime and make sure it's reflected in policies, controls, and day-to-day decisions across the business.
• Build and lead the compliance function, including managing outsourced compliance arrangements and holding third-party providers to clear performance standards.
• Work through a compliance culture across the organisation where obligations are understood at every level and where people come to compliance early.
• Own the relationship with the Central Bank of Cyprus
• managing all supervisory correspondence, leading the company's response to thematic reviews and on-site visits, and maintaining a constructive and transparent relationship with the regulator.
• Ensure the company's licence remains in good standing at all times, identify and address any conditions or requirements proactively, before they become issues.
• Oversee the full regulatory reporting calendar
• PIEMI RR Forms, quarterly and semi-annual payment statistics, AMLCO annual reports, AML and sanctions risk assessments, and the Annual Compliance Declaration
• taking responsibility for their accuracy and timeliness.
• Conduct and maintain enterprise-wide AML and sanctions risk assessments, ensuring they reflect the company's actual risk profile and are updated when material changes occur.
• Drive continuous improvement of transaction monitoring and sanctions screening systems
• challenging false positive rates, coverage gaps, and system effectiveness on an ongoing basis.
• Develop and run the annual Compliance Monitoring Programme: set the testing scope based on risk, document outcomes clearly, assign remedial actions to accountable owners, and track delivery.
• Oversee initial and annual assessments of outsourced compliance and AML providers, ensuring arrangements are properly documented and performance is reviewed.
• Work with the internal auditor to agree findings, direct the company's remediation response, and track implementation through to closure.
• Produce clear, substantive reporting to the Board and senior management on financial crime risks, compliance monitoring outcomes, and open regulatory matters.
• Set and deliver the company's AML/CTF training programme, making sure content reflects current regulatory expectations and is relevant to the roles being trained.
• As the business grows, recruit and develop compliance team members, building a function capable of supporting expanded operations.

Requirements

• Proven track record leading a compliance and AML function at Head, AMLCO, or equivalent level within a CBC regulated entity
• EMI, payment institution.
• Deep knowledge of the Electronic Money Laws of 2012 and 2018, the CBC's AML/CTF Directive including the 2025 update, applicable EU AML Directives, and FATF recommendations.
• Direct experience owning the CBC supervisory relationship
• leading responses to thematic reviews, managing on-site visits, and handling sensitive regulatory correspondence.
• Ability to operate at Board level: presenting clearly, challenging constructively, and translating complex regulatory requirements into decisions management can act on.
• Strong grasp of EMI prudential requirements
• PIEMI RR reporting, capital adequacy frameworks, and client fund safeguarding obligations.
• Experience designing and improving transaction monitoring and sanctions screening programmes, including managing system performance and reducing false positive rates.
• Demonstrated ability to build compliance frameworks from the ground up or restructure existing ones as a business evolves.
• Holds or is working towards a relevant professional AML qualification
• such as ICA, ACAMS, or equivalent
• accepted as evidence of competence for the AMLCO role; prior CBC approval as AMLCO is a strong advantage.
• Degree in Law, Finance, Economics, or a related field; postgraduate qualification is an advantage.
• Fluency in English.

Benefits

• Competitive Salary: We believe great work deserves great pay! Your skills and talents will be rewarded with a salary that makes you feel valued and motivated.
• Work-Life Harmony: Join a company that genuinely cares about you
• because your life outside of work matters just as much as your time on the clock. #LI-Hybrid
• Generous Time Off: Need a breather? Our annual leave policy lets you recharge and enjoy life outside of work without a worry.
• Employee Referral Program: Love working here? Share the love! Bring your talented friends on board and get rewarded for growing our awesome team.
• Comprehensive Health & Pension Benefits: From medical insurance to pension plans, we’ve got your back. Plus, location-specific benefits and perks!
• Workation Wonderland: Live your digital nomad dreams with 30 extra days to work remotely from anywhere in the world (some restrictions apply). Adventure awaits!
• Volunteer Days: Make a difference! Take two additional paid days each year to support causes you care about and give back to the community.