Regulatory Compliance Analyst | Madrid

Who We Are

Monex is a leading global financial solutions provider, offering a complete set of tools to support business growth and strategic financial operations.

We specialise in FX risk management and international payments, helping corporate and institutional clients design tailored FX solutions to navigate currency volatility with confidence. Our team of FX specialists implement well-considered currency strategies, offering dedicated support to help clients manage their payment needs – whether for goods, services, or direct investments.

In 2023, Monex facilitated $309 billion in FX turnover, managed $10.7 billion in assets, and processed 8.5 million transactions. With offices across North America (Canada, the US, and Mexico), Asia (Singapore), and Europe (the UK, Spain, and the Netherlands), we serve over 66,000 clients worldwide.

By combining global reach with deep local market expertise, Monex enhances businesses with a suite of financial solutions and FX market analysis to help optimise efficiency, mitigate currency risk, and protect margins in an increasingly complex financial landscape. Our corporate client experience is further enhanced by our dedicated sector expertise across a range of industries.

Department Overview

The Compliance Department is responsible for ensuring the firm operates in compliance with its regulatory obligations and has systems and controls for the prevention of financial crime.

Accordingly, the department is split into these three functions. Firstly, regulatory compliance provides relevant advice to the business and undertakes arms-length monitoring, acting in the capacity of a second line of defence unit. Secondly, the financial crime team undertakes the due diligence process for all client on-boarding and screening, monitors payments, and carries out periodic screening and KYC reviews and thirdly, the Senior Legal Advisor who provides legal leadership across the business by providing proactive, in depth, business focussed advice and analysing legal risk.

The Department seeks to educate the wider business about legal, regulatory and financial crime risks and requirements. The Department recognises the firm has grown rapidly and therefore system and controls may have to be developed concurrently with the business. While tactical solutions are deployed, the goal of the Department is to develop and implement scalable solutions that are not dependent on manual intervention.

Day-to-day tasks are derived from risk assessments with more robust processes and procedures built around the highest risk activities. Documenting procedures is key to ensure individuals are not exposed to subjective decision making. Financial crime prevention systems and controls must reflect the focus and challenge of the authorities and the high number of anti-money laundering and counter terrorist financing external audits that the business faces.

While the Department seeks to understand the perspective of the business units who make up the first line of defence, the Department’s overriding responsibility is to ensure the firm avoids cultural failings and meets its regulatory obligations to avoid enforcement action, fines and reputational damage to the firm and/or its employees and greater legal and regulatory scrutiny.

Job Overview

• Work closely with the Head of Compliance to build awareness of the firms’ regulatory obligations
• Day-to-day provision of assistance and advice, training and awareness to front office sales and trading departments and other business areas
• Maintain up to date awareness of rule requirements and regulatory guidance, essentially EMIR, MiFID II, PSD 2 and other applicable regulations
• Research and horizon scan for regulatory change, keep the business advised accordingly
• Liaise with external legal counsel and interpret advice
• Review and maintenance of Compliance guidance, policy and procedures
• Coordinate and formulate responses to internal and external regulatory enquiries, audits and queries
• Handle complaints in line with regulatory requirements
• Review financial promotions
• Support the Head of Compliance with the approval of new products in line with new product approval process
• Oversight of team’s typical investigatory and surveillance work (CMP) and escalate where necessary
• Help with the implementation of the Compliance monitoring program
• Developing, leading and completing significant business changes with stakeholder engagement and coordination
• Support and train members of the team in new project work driven by the changing regulatory environment
• Influence and improve conduct and culture
• Produce relevant management information for senior stakeholders in the business
• Assist the Spanish office with all compliance related queries, specifically financial crime and AML queries including, risk appetite, country risk, sanctioned countries as well as all general communication of any changes to the Branch’s policies and procedures
• Carrying out risk assessments at client on-boarding level and again at the periodic client review, if necessary.
• To liaise with operations dept where applicable, to produce the regulatory reporting to CNMV, BoS or any other supervisory body.
  
  

Key Responsibilities And Accountabilities

Regulatory & Financial Crime Requirements

• Broad understanding of financial crime regulations in Spain.
• Broad understanding of relevant Compliance Regulation e.g. CASS, MIFID, EMIR, PSD2 etc.
• Overall responsibility for identifying that the firm is adhering to its regulatory compliance obligations in line with local requirements and internal policies and procedures
• The continuous review and improvement of Compliance Policies & Procedures, Advice and Training Documentation, to ensure they continue to be compliant with regulatory changes and best practice
• Ensuring risk-based approach is in place for the compliance monitoring program
• Ensuring appropriate review of customer complaints
  
  

Compliance Culture

• Establish good working relationships with front office and the Compliance department so that Compliance is seen as an effective second line of defense providing a professional internal guidance and advisory service in the Spanish office.
  
  

Compliance Training

• Assisting Regulatory Compliance and AML training topics to support staff and all new employees.
  
  

Compliance Monitoring

• Help with the implementation of the Compliance Monitoring plan, identify any breaches and report them accordingly.
• To identify and investigate internal Suspicious Transaction and Order Reports (STORS) and coordinate report to relevant regulatory authorities
• Responding to and/or coordinating responses to regulatory enquiries
  
  

Technology & Data

• Contributing to the quarterly OCI minutes, compliance reports and annual report
• Creation of clients’ reports and assisting with external auditor’s requests
• To liase with operations dept where applicable, to produce the regulatory reporting to CNMV, BoS or any other supervisory body.
  
  

Financial Crime / AML Globally

• Assisting team members of the financial crime team.
• Support the Compliance Manager and Head of Compliance in all areas of financial crime and AML regarding Spanish office issues, including client onboarding (DD), monitoring and annual reviews when needed.
• Produce detailed reports for review, containing all findings and recommendations
• Respond to compliance questions and requests from other departments.
  
  

Languages

• High standard of oral & written English is mandatory
• Native Spanish speaker.
  
  

If you like wild growth and working with happy, enthusiastic over-achievers, you'll enjoy your career with us!