MLRO- Money Laundering Reporting Officer

About Our Client

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.

Job Description

Role Responsibilities:

• Identify financial crime & money laundering risks faced by the bank including an examination of:

1. Customer, products and activity profiles
2. Distribution channels
3. Complexity and volume of transactions
4. Processes and systems
5. Operating environment

• Build systems and controls to include:

1. Appropriate training of employees in relation to financial crime
2. 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
3. Documenting risk management policies and risk profile in relation to financial crime
4. 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.

The Successful Applicant

• 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.

What's on 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