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Money Laundering Reporting Officer
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Interim 3 month assignment
Job Purpose
We’re looking for an MLRO to oversee compliance with anti-money laundering, counterterrorism, sanctions and anti-fraud compliance. The MLRO will hold will be a senior manager, sitting within the second line of defence tasked with assuring the Business and its member companies operating in compliance with the relevant laws and regulations applicable to the above regimes. The MLRO is expected to be the focal point for AML activities within the organisation and where required will hold the SMF-17 function subject to approval from the Financial Conduct Authority for any in scope services provided by the Business.
Key Responsibilities
- Develop, implement, and maintain the company's financial crime policies and procedures. Reviewing annually or more frequently if required by changes in regulation
- Ensure compliance with all relevant financial crime regulations
- Act as the primary point of contact for all financial crime related matters within the company, serving as adviser to our first line teams
- Propose and implement technical solutions where practicable, using automation where possible to ensure solutions are scalable
- Conduct regular risk assessments to identify and mitigate potential AML risks through an enterprise wide risk assessment and supporting the business with developing metrics to track its financial crime risk appetite
- Oversee the monitoring and reporting of suspicious activities and transactions where required
- Liaise with regulatory bodies, law enforcement agencies, and other external stakeholders as necessary
- Provide training and guidance to staff on AML policies and procedures
- Prepare and submit regular AML reports to senior management and the board of directors including the annual MLRO report
- Ensure that the company’s AML program is up-to-date with the latest regulatory changes and industry best practices.
- Manage and oversee the work of the AML compliance team, including a senior deputy.
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Qualifications and experience
Our qualifications include both essential and desirable criteria. Essential qualifications are the minimum requirements for this role.
Essential:
- Proven track record of managing AML programs and teams.
- Minimum of 5 years of experience in AML compliance working in financial services (including credit, insurance or lending).
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills.
- Ability to work independently and make decisions with minimal supervision.
- Experience in dealing with regulatory bodies and law enforcement agencies.
- Strong leadership and team management skills.
- Strong understanding of AML regulations and compliance requirements.
- Ability to analyse complex information and make informed decisions.
- Excellent organisational and time management skills.
- Proficiency in using AML software and tools such as transaction monitoring, NCA SAR Portal and/ or ID&V.
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Desirable:
- A bachelor’s degree in finance, law, business administration, or a related field
- Professional certification in AML (e.g., CAMS, ICA Diploma in AML) is highly desirable
- Has previously been approved by the Financial Conduct Authority as an SMF-17 and/ or an EMD approved individual
Additional Information
This role will require the individual to hold the SMF-17 function for any in scope services the business provides as defined by the FCA. Applicants with previous approval in firms providing consumer credit, payment services and/ or other financial services will score more highly on the initial sift.
The successful candidate will be subject to full background checks, including criminal background, financial and regulatory references which must cover your employment history for the last 6 years.
Please note, regulatory references are in addition to standard employment references. This check is mandatory to ensure the fitness and propriety of individuals taking on regulated roles. By submitting this application, you provide consent for the business to undertake a full regulatory reference. Regulatory reference requires us to your current and former employers and request information from them about you. Contracts of employment will only be issued once all references are completed satisfactorily. Should the role require regulatory approval, we expect postholders to obtain approval during the and by the end of the probationary period.
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