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My client is a regulated and fast-growing UK bank headquartered in London, specializing in payment solutions for the global economy. Working in both developing economies and growth markets.
They are looking for an SMF17 - Money Laundering Reporting Officer (MLRO) to be the second in command within the Risk & Compliance team, reporting directly to the Chief Risk Officer.
Client Details
My client is a regulated and fast-growing UK bank headquartered in London, specializing in payment solutions for the global economy. Working in both developing economies and growth markets.
Description
Role Responsibilities:
- Identify financial crime & money laundering risks faced by the bank including an examination of:
o Customer, products and activity profiles
o Distribution channels
o Complexity and volume of transactions
o Processes and systems
o Operating environment
- Build systems and controls to include:
o Appropriate training of employees in relation to financial crime
o Provision of information and reports to governing body and senior management including annual MLRO report on the effectiveness of systems and controls relating to AML and broader financial crime risk
o Documenting risk management policies and risk profile in relation to financial crime
o Ensure that financial crime risk is taken into account in day to day operations
- Assess resource requirements and ensure adequate resources, both in terms of quality and quantity are deployed to mitigate financial crime risk
- Escalate relevant matters in a timely manner to senior management
- Ensure customer due diligence (CDD) checks are carried out in a manner that properly identifies clients, including beneficial owner identities where applicable, and understand and evidence the purpose and intended nature of client relationships.
- Ensure ongoing monitoring and scrutinising of transactions to ensure they are consistent with what the bank knows about its customers.
- Ensure timely reporting of knowledge or suspicion of money laundering to the NCA through a suspicious activity report.
- Ensure information relating to customer interbank payments contains payer and payee information to enable easy tracing of payments related to, eg, drug trafficking or terrorism.
- Ensure records documents and information obtained and sufficient supporting records of transactions are retained for more at least 5 years after the end of the business relationship.
- Ensure appropriate resourcing, governance, oversight and accurately track the delivery of transaction screening and Transaction monitoring systems implementation.
- Ensure timely and accurate regulatory reporting to FCA.
Profile
- University degree level, with relevant professional qualifications.
- At least 10 years of hands-on experience in financial crime prevention.
- Holder of approved SMF17 role previously is preferred.
- Strong and extensive experience in interpreting and implementing relevant regulations.
- Exposure to Emerging and Frontier Markets and the challenges of doing business in higher risk jurisdictions.
- Forward looking risk management mindset, anticipating and addressing emerging risks and impacts.
- Focused on continuously evolving and enhancing financial crime risk management capabilities.
- Established relationships with regulators and other key stakeholders.
Job Offer
- Hybrid working, 3 days per week in our London Office (Tuesday being the core day)
- Contributory personal pension plan: - Minimum: Employee 2% and Employer 7%. Employer matches contributions in 1% increments to a maximum of: Employee 5% and Employer 10%
- Life Assurance - 4 times annual salary
- Group Income Protection
- Private Medical Insurance - this may include cover for partner and or children at company cost. Cover includes Optical, Dental and Audiology
- Discretionary Bonus
- Competitive Annual Leave
- 2 Volunteering Days
- Benefit Hub
