Is working in a compliance position in an asset manager haram?
I’m looking for work at the moment, I have a law degree and find financial services incredibly interesting. I’m looking to work here for a few years, build some key skills and then move into a more shariah-compliant job (e.g. focusing on motherhood or anything else really.)
Job description below:
The role sits within the Compliance department covering a variety of areas to ensure that the organisation conducts business in a compliant manner in accordance with FCA, SEC, AMF and FINMA rules, company policies and procedures. This will include reviewing policies and ensuring compliance with; Anti Money Laundering risks, Anti-bribery and Corruption risks, Market Abuse risks, mis-selling and Financial Promotions rules and Conduct of Business rules applicable to the business.
Role/Responsibilities:
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Day-to-day compliance monitoring. Conduct periodic compliance reviews within offices; provide reports to Compliance team.
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Ensure that policies, procedures and standards of conduct are communicated, understood and appropriately implemented within the office; deliver training as required
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Develop and maintain strong relationships with U.K. employees and provide appropriate advice on compliance matters; refer issues to Head of Compliance or Chief Compliance Officer as required
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Monitor changes to U.K. legislation and rules affecting the firm’s business and advise management and staff of the implications of these changes
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Recommend improvements where appropriate and ensure that compliance manual and policies and procedures are kept up-to-date in light of developing legislation
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Coordinate and participate in any regulatory examinations as needed
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Conduct review and approve KYC files for accuracy and completeness of KYC documentation
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Assist and undertake compliance monitoring, audits and risk assessments.
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Assist the Head of Compliance in maintaining Compliance policies and procedures.
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Assist in Compliance training for new starters
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Maintain records of personal dealing and gifts, benefits and entertainment requests and conflicts of interest
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Assist in the preparation of regulatory reporting returns to the FCA within set timeframes
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Assist in preparation of the risk monitoring reports.