MILLBANK FX
Compliance Officer
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Compliance Officer
Millbank FX | London
Full-time | Permanent | Office-based
Location: Central London (20 King St, London EC2V 8EG)
Remuneration:
£40k-£45k Base Salary (Dependent on skillset/experience) + benefits package (private medical insurance, dental and optical cash back, gym & wellness discounts)
Are you passionate about finance and compliance and ready to further your career in the dynamic world of foreign exchange? We're looking for a motivated and experienced individual to join our team at Millbank FX as a Compliance Officer.
About Millbank FX
Millbank FX is a London-based foreign exchange and global payments specialist, trusted by mid-market and enterprise businesses to manage currency risk and international payments with speed, precision, and integrity.
Having processed over £6 billion in transaction volume, we partner with businesses across multiple sectors to deliver tailored FX solutions, international payment capabilities, and strategic risk management support.
Our business is built on disciplined execution, operational excellence, and long-term commercial relationships. We operate in a high-performance environment where ownership, accountability, and commercial ambition are highly valued.
As we continue to scale, we are expanding our compliance team with ambitious individuals who want to build meaningful careers within the FX and payments industry.
Role Overview:
Millbank FX is looking for a Compliance Officer to work alongside the MLRO and support the effective operation of the firm's financial crime compliance framework, ensuring that customer onboarding, sanctions screening, transaction monitoring and business activities comply with all relevant legal, regulatory and internal requirements.
Your Mission:
- Review transaction monitoring alerts generated by compliance systems, investigate unusual activity and escalate relevant matters to the MLRO.
- Investigate, analyse and document AML escalations, supporting the preparation and filing of suspicious activity reports where required by law.
- Conduct the onboarding and periodic review of corporate customers, including entities with complex or multi-layered ownership and control structures.
- Analyse corporate structures and identify and verify Ultimate Beneficial Owners, directors, controllers and authorised signatories.
- Conduct risk-based customer due diligence and enhanced due diligence, including assessment of source of funds, source of wealth, business activities, expected account activity, jurisdictions and industry risk.
- Perform ongoing monitoring and re-screening of the existing customer base, including trigger-event reviews and remediation of outstanding KYC information.
- Perform due diligence on third-party payments, beneficiaries and counterparties to ensure the payment purpose and activity are consistent with the customer's business and risk profile.
- Ensure AML and sanctions risks associated with customer and transaction activity are identified, assessed, documented and appropriately mitigated.
- Support assessment existing compliance policies and procedures, recommend and implement updates where required, and ensure they remain aligned with regulatory developments and the firm's operating model.
- Maintain accurate and complete compliance records, case files and audit trails, and support the production of compliance management information.
- Support compliance monitoring reviews, internal and external audits, remediation exercises and the tracking of actions through to completion.
- Stay up to date with AML, sanctions and wider regulatory developments and communicate material changes to relevant stakeholders.
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What you’ll need:
- Relevant experience in an AML, KYC or financial crime compliance role within foreign exchange, payments, fintech or another regulated financial services environment.
- Experience conducting alert reviews, investigations, transaction monitoring and remediation activity.
- Strong understanding of corporate structures, beneficial ownership and KYC, CDD and EDD requirements, including the ability to assess complex ownership and control arrangements.
- Good working knowledge of the UK AML/CTF and sanctions framework and the ability to apply a risk-based approach.
- Ability to manage multiple priorities, make sound risk-based judgements and escalate issues promptly in a fast-paced environment.
- Exceptional written and verbal communication skills, with the ability to explain complex compliance matters clearly.
- Well-organised, detail-oriented and able to maintain accurate records and audit trails.
- Ability to work independently, collaborate across the business and learn new compliance systems and tools quickly.
- ICA certification or an equivalent professional qualification is desirable.
You’re the right fit for us if:
- You’re naturally curious and ask thoughtful questions to understand the bigger picture.
- You take pride in producing accurate, thorough and well-documented work.
- You can balance attention to detail with an understanding of the wider commercial context.
- You’re comfortable working in a fast-paced environment where priorities can change.
- You enjoy being challenged and are motivated by continuous learning and development.
- You’re collaborative, approachable and enjoy being part of a sociable, high-performing team.
- You aspire to make an impact and be part of a team
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What Success Looks Like:
Within your first 12 months, you will:
- Develop a strong understanding of Millbank FX’s business model, customer base, products, systems and financial crime risk profile.
- Become confident in applying the firm’s AML, sanctions, customer onboarding, transaction monitoring and escalation procedures.
- Build effective working relationships with the MLRO and key stakeholders across the business.
- Conduct corporate customer onboarding and periodic reviews, including cases involving complex or multi-layered ownership and control structures.
- Independently review transaction monitoring alerts, investigate unusual activity and escalate relevant matters in line with internal procedures.
- Conduct risk-based CDD and EDD assessments, including reviews of source of funds, source of wealth, business activities, expected account activity, jurisdictions and industry risk.
- Perform sanctions, PEP and adverse media screening and support the remediation of outstanding KYC and due diligence information.
- Conduct due diligence on third-party payments, beneficiaries and counterparties, ensuring activity is consistent with the customer’s business and risk profile.
- Maintain accurate, complete and well-documented compliance records, case files and audit trails.
- Support compliance monitoring reviews, audits and remediation exercises, tracking actions through to completion.
- Contribute to the review and improvement of compliance policies, procedures and controls, recommending practical updates where appropriate.
- Stay informed of relevant AML, sanctions and regulatory developments and communicate material changes to relevant stakeholders.
- Demonstrate sound judgement, attention to detail and the ability to manage competing priorities in a fast-paced environment.
- Make a positive contribution to the continued development and effectiveness of Millbank FX’s compliance framework.
Remuneration & Progress
- £40k-£45k Base Salary (Dependent on skillset/experience)
- Personal Development Training
- Private medical & cash back scheme
- Attractive Pension Scheme
- Exceptional Career Growth Opportunities
Work Authorization: United Kingdom (Required)
Ready to take the next step in your compliance career?
Join us as a Compliance Officer and gain broad exposure to customer onboarding, transaction monitoring, investigations and regulatory compliance in the heart of London's financial district.
Apply now to become a part of our dynamic team!
Note: Due to the volume of applications, only successful candidates will be contacted.
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