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Daren Heath

Daren Heath

Compliance, Isle of Man

Daren works in the compliance team in the Isle of Man.

He is responsible for providing support to the IOM and Group compliance function assisting with the strengthening and development of policies and procedures, providing guidance to the company on regulatory matters, anti-money laundering and risk management.

Daren's main duties and responsibilities include ensuring all company's administered by ILS have been risk profiled in line with our Risk Profiling Procedure, together with ongoing monitoring of the risk profiles to ensure their accuracy. He spot checks the reviews completed by the administration teams, carries out Politically Exposed Person/High Net Worth Individual reviews and Eligible Introducer Testing on an annual basis.

He provides assistance with the monitoring of the use of Powers of Attorney's and provides guidance and assistance to administrators on queries relating to Customer Due Diligence, Know Your Client and general business related questions. Daren also compliance payments exceeding ILS's internal limit, compliance checks and signs-off new business or additional parties to existing companies. Daren assists in reviewing, amending systems and procedures to ensure the department and ILS run smoothly, assists in the classification of the client companies under Fair and Accurate Credit Transactions Act and Common Reporting Standard legislation and acts as Deputy Money Laundering Reporting Officer for the IOM office.

Daren has an ICA International Certificate in Financial Crime Awareness, an ICA International Certificate in Compliance Awareness and an ICA International Certificate in Anti Money Laundering Awareness.

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