ETRA Talent
Head of Compliance & MLRO SMF16 & SMF17
London
£130k – £150k/yr
Posted 6 days ago
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Head of Compliance & Money Laundering Reporting Officer (SMF16 & SMF17)
Role Overview
An international bank is seeking an experienced Head of Compliance & MLRO to lead the Compliance and Financial Crime function for its FCA and PRA regulated UK Branch.
The successful candidate will:
- Design, implement, and maintain an effective compliance and financial crime framework aligned with strategic objectives and UK regulatory requirements.
- Act as the approved SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer), serving as the principal point of contact with:
- Financial Conduct Authority (FCA)
- Prudential Regulation Authority (PRA)
- National Crime Agency (NCA)
- Other relevant regulatory authorities
This role requires a commercially minded compliance leader capable of providing pragmatic regulatory advice while maintaining governance, conduct, and risk management standards.
Key Responsibilities
Regulatory Compliance
- Act as UK Branch’s SMF16 and SMF17.
- Develop, maintain, and oversee the Compliance Monitoring Programme.
- Ensure compliance with all applicable FCA, PRA, and UK regulatory requirements.
- Provide senior management with:
- Regulatory developments updates.
- Emerging risks insights.
- Advisory support for new product approvals.
- Lead implementation of regulatory initiatives and changes.
- Maintain branch compliance policies, procedures, and governance framework.
- Oversee regulatory reporting & statutory submissions.
- Deliver compliance training across the organisation.
Financial Crime
- Maintain the Branch’s Financial Crime Framework.
- Serve as Nominated Officer under the Proceeds of Crime Act.
- Review and submit Suspicious Activity Reports (SARs) to the NCA.
- Oversee frameworks for:
- Anti-Money Laundering (AML).
- Counter-Terrorist Financing (CTF).
- Sanctions.
- Anti-bribery and corruption.
- Fraud risk.
- Ensure effective Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and ongoing monitoring processes.
- Monitor financial crime risks and emerging typologies.
- Oversee:
- Sanctions screening.
- Transaction monitoring.
- Lead financial crime risk assessments and control testing.
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Governance & Risk
- Exercise an **independent challenge** to senior management and business functions.
- Attend Executive, Risk, Audit, Compliance, and Board Committees.
- Produce:
- **Management Information (MI)**.
- **Key Risk Indicators (KRIs)**.
- **Regulatory reporting**.
- Manage **regulatory breaches, incidents, and investigations**.
- Oversee:
- **Thematic reviews**.
- **Internal investigations**.
- **Internal Audit & External Audit reviews**.
- **Regulatory inspections and supervisory visits**.
### **Regulatory Engagement**
- Build and maintain **constructive relationships with the FCA and PRA**.
- Manage **all regulatory correspondence**.
- Lead responses to:
- **Regulatory enquiries**.
- **Information requests**.
- Coordinate **Section 166 Skilled Person Reviews** (where required).
- Support projects related to:
- **Authorisations**.
- **Permissions**.
- **Regulatory changes**.
### **Leadership**
- Lead, develop, and mentor the **UK Compliance & Financial Crime team**.
- Promote a **culture of integrity, ethics, and conduct**.
- Mentor **junior compliance professionals**.
- Manage **department budgets and resources**.
- Collaborate with:
- **Global Compliance**.
- **Risk**.
- **Legal**.
- **Internal Audit**.
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Key Regulatory Knowledge
The candidate should possess strong knowledge of:
- FCA Handbook
- PRA Rulebook
- Senior Managers & Certification Regime (SMCR)
- UK Money Laundering Regulations
- Proceeds of Crime Act (POCA)
- Terrorism Act
- Financial Services & Markets Act (FSMA)
- Consumer Duty
- Conduct Risk
- Market Abuse Regulation (UK MAR)
- CASS (where applicable)
- Sanctions Regulations
- FCA Financial Crime Guide
- JMLSG Guidance
Experience Required
- Significant leadership experience in Compliance and Financial Crime within a regulated bank (FCA/PRA).
- Previous approval for or eligibility to hold SMF16 and SMF17.
- Direct experience engaging with UK regulators.
- Proven knowledge of:
- Wholesale banking compliance.
- Corporate banking compliance.
- Capital markets regulatory requirements.
- Experience:
- Developing Compliance Monitoring Programmes.
- Managing AML, sanctions, and financial crime frameworks.
- Leading regulatory change initiatives.
- Supporting review and audit processes.
- Strong stakeholder management skills (Executive and Board level).
Qualifications
- Degree education or equivalent.
- Preferred:
- ICA Advanced Certificate/Diploma.
- ACAMS Certification (e.g., CTP).
- Advantageous:
- Relevant legal, risk, or compliance qualifications.
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Skills
Compliance Oversight
Financial Crime
Regulatory Compliance
AML
Risk Management
Governance
Stakeholder Management
Regulatory Reporting
Customer Due Diligence
Sanctions
Fraud Risk
Training
Leadership
Regulatory Engagement
Change Management
Monitoring
Location