Company: Legal Services Supervisory Authority (“LSSA”)

Job Title: Head of LSSA

Line Manager: LSSA Board and ultimately the Legal Services Council

Location: Grand Cayman, Cayman Islands

Summary: Reporting to the LSSA Board, the Head of LSSA is responsible for providing strategic leadership and executing the discharge of LSSA’s anti-money laundering, countering the financing of terrorism and countering proliferation financing (“AML/CFT/CPF”) supervision, monitoring and enforcement mandates. The Head of LSSA oversees the organisation’s risk-based approach to AML/CFT/CPF regulation of firms of attorneys-at-law and individuals in the Cayman Islands. Ensuring LSSA is an effective, fair, transparent, and efficient AML/CFT/CPF regulatory body maintaining the highest standards of compliance by law firms and thereby strengthening public confidence and trust in the legal sector, both domestically and internationally.

The functions of this role will include but not be limited to the following duties & responsibilities:

• Executing, leading and being responsible for the discharge of the organisation’s delegated mandate as an AML supervisory authority.
• Overseeing the day-to-day operations of LSSA.
• Delivering the outputs and performance agreed with the Cayman Islands Government, including managing financial performance, and preparation of annual reports.
• Managing the LSSA annual budget
• Maintaining a Designated Non-Financial Business and Professions (“DNFBPs”) register in accordance with the Anti-Money Laundering Regulations (as revised) (“AMLRs”) and ensuring a robust supervision process for all relevant DNFBP’s.
• Managing and implementing training programmes within the organisation to ensure that the right technical capabilities and levels of skill are met. Identifying areas for development and key performers, ensuring training and development plans are in place and regular training needs analysis undertaken.
• Supervising and providing leadership and guidance to staff.
• Leading the strategic direction of the organisation, ensuring its resources are sufficient, subject to budget allocation, are used effectively and that the required skills are procured and developed to produce results that meet or exceed the standards expected. Submitting bids for additional funding and resources as required.
• Pursuing innovative partnerships in order to improve LSSA’s output, for example, involvement in public private partnerships and fostering strong working relationships with other supervisory bodies, competent authorities, and law enforcement agencies, at both a domestic and international level.
• Researching, collecting, and presenting pertinent information to internal and external stakeholders to bring about the successful execution of projects, goals, and objectives of LSSA.
• Influencing potential legislative or regulatory change to bring about improvements to AML/CFT/CPF processes for the benefit of the public and legal profession.
• Contributing to LSSA’s responses to external policy consultations or correspondence from the Cayman Islands Government or other external stakeholders.
• Educating and raising awareness of LSSA’s function and remit in the public and private sector and the general public. Enhancing the international visibility and reputation of the organisation.
• Participating in the jurisdiction’s preparation for the Financial Action Task Force (FATF) 5th Round of Mutual Evaluation of the Cayman Islands.
• Additional duties as required.

The incumbent must have the following skills and experience:

• Professional qualification in law, finance, accounting (or a related discipline).
• Formal AML/CFT/CPF compliance qualifications such as ACAMS, ICA, CFE or similar certification is desirable.
• Minimum 10 years’ experience working at a senior level in a financial or legal environment in the area of AML /CFT/CPF compliance or supervision. Previous experience working with a supervisory authority or professional body in supervising and regulating the financial and or legal sector in connection with AML/CFT/CPF compliance would be an asset.
• Previous experience of budget and financial control.
• Proven track record of significant and high-level professional achievements and be capable of presenting as the public face of LSSA with credibility and authority.
• Demonstrated experience in a start-up environment or in a growing entity in a regulatory sector would be highly advantageous
• Current knowledge of AML/CFT/CPF compliance trends (internationally, regionally, and locally) as well as emerging risks and other issues likely to impact the legal sector.

The successful candidate will be offered a competitive compensation and benefits package aligned with their experience and qualifications.

Closing Date is 6th December 2024.