MLRO

THE COMPANY:

Our client is a leading international bank based in the City.  They are looking to hire an MLRO on a permanent basis.

THE RESPONSIBILITIES:

• Responsible for oversight of the Bank’s compliance with the FCA’s rules on systems and controls against financial crime;
• Assess, acquire, build and improve the adequacy of systems and controls that enable the Bank to identify, assess, monitor and manage money laundering risk;
• Manage the FCP Team and prepare a strategic plan to meet both internal and external requirements regarding financial crime matters.
• Maintain an awareness of current financial crime regulations and legislation and ensure that changes are reflected in the Bank’s policy and procedures and disseminated to staff as appropriate;
• Ensure that staff in the Bank receive proper training in financial crime matters;
• Ensure that the Bank’s policy and procedures on financial crime matters are kept up-to-date with changes in legislation and practice and are accessible to all staff who need access to them;
• Responsible for maintaining and updating the AML, CDD, PEP, Sanctions, Anti-Fraud, Offboarding Trade Finance – FCP Policy, and Anti-Bribery & Corruption Policies and oversight of business compliance to their requirements;
• Review and challenge related procedures of different functions related to above mentioned policies;
• Ensure that own continuous training and development is maintained in order to discharge MLRO responsibilities;
• Act as a Nominated Officer and receive Suspicious Activity Reports (SARs) from staff, investigate them where appropriate and advise staff of required action in a timely manner;
• Ensure FCP Team to act as a principal point of contact for all staff on financial crime matters;
• Make SAR reports to the National Crime Agency (NCA) whenever necessary and manage the Bank’s relationship with external Law Enforcement Agencies (LEA’s) and Court authorities as required;
• Appoint Deputy Nominated Officer to assist the MLRO with processing and investigations of SARs;
• Appoint a delegate as necessary to ensure that they are equipped to discharge the role during temporary absences of the MLRO from the office;
• Liaise, as required, with the Head Office to ensure that their ‘group-wide’ policies are implemented in the UK if appropriate;
• Deliver Annual MLRO Report for Board approval in line with regulatory requirement;
• Provide regular Management Information reports to the CCO, Senior Management, Risk & Compliance Committee and the Head Office and other ad hoc reports as required;
• Conduct Monitoring Plan reviews to ensure the 1st line of defence is adhering to policies and procedures in place;
• Deliver and maintain Bank-wide Financial Crime Risk Assessments;
• Implement and maintain a sound Customer Risk Rating Methodology;
• Approve/reject any high risk customer onboarding, review all medium risk files;
• Assess, recruit and maintain human resources to ensure that the MLRO is able to carry out their responsibility and have oversight of Bank’s compliance with the FCA’s rules;
• Manage performance of staff within the function and ensure appropriate training needs are identified;
• Act as the Secretary for the Financial Crime Risk Committee, coordinate the material for the meetings and prepare the minutes;
• The job holder reports directly to the CCO; and a dotted line to the CEO and Chair of the Risk and Compliance Committee.
• Other tasks as directed by the CCO and the CEO.

EXPERIENCE REQUIRED:

• Must be able to work 4 days a week in London
• SMF17 experience ideally from a Banking background
• 10 years’ experience in financial services money laundering.
• Advanced financial industry products knowledge.
• Conduct and general compliance expertise.
• Industry certification, ACAMS, etc.
• Good knowledge and experience of Trade Finance.

For further information please contact Hannah Tabatabai