What does the role entail?
The compliance paralegal will take the lead in managing our compliance processes related to know your customer (KYC), anti-money laundering (AML), sanctions, non-proliferation financing, Solicitors Regulation Authority (SRA) obligations including drafting and reviewing client risk assessments, matter risk assessments, source of wealth and funds checks, and document management through DocuSign. The compliance paralegal will ensure that the correct information and documentation has been collected so that the legal team have everything they need to work in an efficient manner.
This role will involve a lot of client contact.
The role will report to the firm’s managing director and COO.
1. KYC, AML and Sanctions Compliance
- Handle matters requiring KYC.
- Review and verify information and documentation for clients, investors and third parties.
- Participate in client onboarding and ongoing client monitoring.
- Manage the firm’s AML screening.
- Contact individuals who have initiated the electronic screening process but have not completed it. Explain the importance of the AML screening and guide them through the necessary steps for completing their electronic check.
- Maintain a record of individuals in the screening pipeline and follow up regularly via email or phone to encourage completion.
- Liaise with our electronic screening provider regarding AML reporting issues.
- Identify and escalate matters requiring further review from the managing director and COO.
- Download and maintain files related to KYC, AML and sanctions to the appropriate locations in our internal system.
- Stay up-to-date with sanctions lists and regulatory changes.
2. Risk Assessments:
- Conduct thorough due diligence checks on new and current clients.
- Assess the nature of the client’s legal needs and their AML verification and financial stability.
- Evaluate the client’s ability to pay legal fees and identify any potential financial risks.
- Produce client risk assessments and provide completed reports to the managing director and COO.
- Maintain and regularly review client risk assessments to ensure compliance with SRA rules and our legal obligations.
- Analyse clients’ legal matters and transactions.
- Identify potential legal, compliance and AML risks associated with specific transaction.
- Assess the complexity and potential financial implications of each transaction.
- Maintain an organised compliance file structure for efficient document access.
- Assist in the development and maintenance of risk assessment frameworks.
3. Source of Wealth and Funds:
- Investigate, obtain and verify source of wealth and funds information and documentation.
- Maintain accurate records of source of wealth and funds investigations in our internal system.
- Identify and mitigate potential risks associated with clients, investors and third parties.
- Collaborate with our legal team to address any compliance-related issues.
- Send, manage and oversee DocuSign for document electronic execution and tracking.
- Communicate with signatories through email or phone to expedite the signing process via DocuSign.
- Download and rename completed documents from DocuSign and save them to the appropriate locations in our internal system.
5. Regulatory Compliance:
- Assist with periodic policy and procedure reviews and suggesting improvements.
- Support the managing director and COO to ensure compliance with SRA guidelines and other relevant legal regulations.
Good communication, client care and organisational skills as well as accuracy and ability to understand, analyse and explain complex documents and detailed policies and apply their content are all required.
Is there career progression?
We value our staff and are always keen for them to develop and grow with the firm. There are many routes for development from this role and we are happy to discuss your career objectives with you on an ongoing basis.
The successful applicant will be trained on all aspects of the role and will take part in all firm wide training on legal matters.
What are we looking for in a candidate?
- “Get up and go” attitude – you will do your best at all times.
- Experience working in a similar role is a bonus but is not mandatory.
We will provide you with training to equip you with the necessary skills and to ensure that you are confident at performing your role. If you don’t have much relevant experience but are prepared to work hard and always do your best, please apply.
Who will you be working with?
Our team is small and friendly. We are also a diverse bunch with a range of backgrounds and interests. We have a fairly relaxed culture compared to other firms.
We have three objectives we want team members to achieve every day:
- provide the best service to our clients;
- achieve something (whether it be an aspect of personal development, or a task you have done really well); and
- have fun.
We are an equal opportunities employer and welcome applications from anyone regardless of their background.
About our firm
We are the only law firm in the UK working exclusively with start-ups and high growth businesses. 70% of our clients are high growth technology start-ups. A significant part of our practice is advising founders and start-ups on venture capital work / investment rounds including SEIS and EIS compliance.
Birthday: Celebrate your birthday with a paid day off to enjoy as you please.
Health: Premium private health insurance.
Fitness: Stay active at top-notch gyms like Virgin Active, Nuffield Health, David Lloyd and the Gym Group, all at an exclusive 50% discount.
Perks: Enjoy savings and rewards through our exclusive discounts and rewards scheme, designed to enhance your lifestyle.
Professional: Career growth with our comprehensive professional development program, empowering you to reach new heights.
Fuel: Enjoy an array of free snacks and beverages at our well-stocked office bar to keep you energised and refreshed throughout the day.
Golden Years: Secure your future with our attractive pension scheme.
Pedal Power: Take advantage of our “Cycle to Work” scheme, making it easier and more affordable to acquire your dream bike.
Hours: Achieve work-life balance with working hours from 9:30am to 6:00pm, Monday to Friday.
Holiday: Enjoy a generous holiday package of 20 days plus bank holidays.
Prime Location: Join us at our vibrant London office, conveniently located at 2nd Floor, 1-3 Worship Street, London, EC2A 2AB, in the heart of the city’s action.