AML Lead

Banank; Madrid; On-site; EUR 90,000 - 120,000; Full time

Job summary

Banank, a neobank-style banking technology company, seeks an AML Manager to lead the Second Line of Defence (2LoD) in Madrid. The role focuses on designing, implementing, and continuously improving the AML system for a financial services firm supervised by SEPBLAC and the Bank of Spain, with international expansion in view.

You will oversee control testing, policy governance, monitoring, and regulatory liaison, balancing frictionless processes with robust AML controls while collaborating with

Qualifications

• 8-10 years proven AML experience in payments or financial services.
• Experience coordinating with internal teams to minimize customer friction.
• Deep practical knowledge of designing and executing control testing and risk-based reviews.
• Proficiency in AML/KYC regulations, control frameworks, and reporting standards (local and EU).
• Experience setting up from scratch a robust AML system including KYC, transaction monitoring, policies, STRs.
• Excellent analytical and investigative skills to identify systemic risks and report findings.
• Technical skills with AML tools: identification providers, screening tools, alerts systems, reporting tools.
• Strong attention to detail and ability to manage multiple assurance activities.
• Team player with independence to challenge 2LoD and collaborate.
• Fluent in English.

Responsibilities

• Design and maintain AML control framework for new products and services.
• Design and execute independent control testing, thematic reviews, and risk-based monitoring.
• Own, develop, and maintain AML policies, procedures, and risk appetite statement.
• Monitor KPIs and KRIs, and prepare independent reports for senior management and Board.
• Provide expert guidance and challenge to the 1LoD on new processes to mitigate AML risks.
• Coordinate responses for external regulatory audits and inspections; prepare STRs.
• Track remediation plans from testing and regulatory findings.
• Develop and deliver AML training to embed a strong AML culture.

Skills

AML expertise

KYC regulations

Control testing

Risk-based reviews

Regulatory liaison

Data analysis

Reporting skills

Remediation tracking

Training delivery

Stakeholder engagement

English fluency

Tools

Identification providers

Screening tools

Alerts systems

Reporting tools

Job description

About Us: Banank – a fresh chapter in banking technology!

We combine generational banking wisdom with cutting-edge tech to create a top-notch banking experience for digital natives. As we scale our operations toward becoming a full neobank, we are looking for an AML Lead to join our team.

The Role

We are looking for an AML Manager to join the Second Line of Defence (2LoD), specialising in the financial industry. This critical role will focus on leading the construction, maintenance, and continuous improvement of the AML system for a financial sector company supervised initially by SEPBLAC and the Bank of Spain, with a clear focus on international expansion.

The AML Manager will provide independent assurance over the effectiveness of the First Line of Defence's (1LoD) risk management activities, controls, and compliance with regulatory requirements related to money laundering, fraud, and financial crime. The primary responsibility will be to cooperate in the design of the products and services, providing smart solutions to find the balance between frictionless processes and a robust AML system, create and execute control assurance testing, monitor key risk indicators, and govern the AML policy framework. This position requires a deep understanding of local and EU payment industry regulations, strong analytical and auditing skills, and the ability to effectively challenge and collaborate with internal stakeholders to elevate compliance standards. You will hit the ground running on day one, so we are looking for a self-starter who can quickly establish a robust assurance program.

Responsibilities

• AML control framework for new products and services: working hand in hand with Product and IT departments to ensure that the company's products and services are designed in compliance with legal obligations arising from AML regulations, establishing customer identification and monitoring measures, watchlist screening, etc., while minimizing their impact on the customer journey.
• Assurance Testing: Design and execute independent control testing, thematic reviews, and risk-based monitoring across the 1LoD’s AML controls (including KYC, CDD, transaction monitoring, and sanctions screening).
• Policy & Governance: Own, develop, and maintain the company's AML policies, procedures, and risk appetite statement, ensuring alignment with regulations, card scheme rules, and global best practices.
• Monitoring & Reporting: Monitor key performance indicators (KPIs) and key risk indicators (KRIs) related to AML processes and controls. Proficient in obtaining and analysing data from reporting systems. Prepare independent reports for senior management and the Board on the overall health and effectiveness of the AML control environment, highlighting deficiencies and providing recommendations for remediation.
• Oversight & Challenge: Provide expert guidance and challenge to the 1LoD on the design and implementation of new business processes, products, and operational changes to ensure inherent AML risks are adequately mitigated.
• Regulatory Liaison: Manage and coordinate responses for external regulatory audits and inspections related to AML compliance, working with the Head of Compliance to ensure all regulatory obligations are met. Prepare STR submissions when necessary.
• Remediation Tracking: Track, monitor, and validate the completion of remediation plans resulting from control testing, internal audit findings, or regulatory observations.
• Training & Awareness: Develop and deliver targeted training and awareness programs to embed a strong AML culture across the business, particularly within the 1LoD and sales.

Requirements

Must Have

• At least 8-10 years proven experience working in an AML department within the payments industry or financial services sector.
• Experience in working with internal departments, ensuring that the company is compliant with AML rules while the customer experience is as light as possible.
• Deep practical knowledge of designing and executing control assurance testing and risk-based reviews.
• Proficiency in AML/KYC regulations, control frameworks, and reporting standards (e.g., local Spanish regulations, EU AML Directives).
• Previous experience in setting up from scratch a robust AML system and each one of its different areas:
• KYC
• Transaction Monitoring
• Policies and procedures
• STR’s and relationship with the regulators
• Excellent analytical and investigative skills, with the ability to identify systemic risks, analyze complex control deficiencies, and articulate independent findings to senior audiences.
• Technical skills working with AML and related tools:
• Identification providers
• Screening tools
• Alerts systems
• Reporting tools
• Strong attention to detail and accuracy, with the ability to manage multiple assurance activities and prioritize workload effectively.
• A team player who can effectively and efficiently collaborate, building relationships with colleagues throughout the business while maintaining the necessary independence and challenge required of a 2LoD function.
• Being fluent in English is necessary.