Our client is looking for a Money Laundering Reporting Officer (MLRO) and Compliance Officer (CO) to join their team. This is a full-time role where the MLRO and CO will assist with AML/CFT training, conduct periodic competency checks, manage compliance reviews, and liaise with relevant authorities. The role also involves monitoring risk and regulatory compliance across various functions and reporting findings to the Board.
Job Duties:
- Assist with AML/CFT induction training for new starters and organise refresher training.
- Arrange verification of details for new staff.
- Conduct periodic competency checks to ensure staff details remain current and that JFSC notifications are observed.
- Vet staff awareness of AML/CFT issues and assess gaps in training based on queries raised.
- Advise on compliance queries, particularly concerning the quality of CDD.
- Maintain the Structure Charts and Organisational/Reporting Charts.
- Assist the Board in drafting the Business Risk Assessment and identify deficiencies.
- Attend Audit, Risk, and Board meetings as required and participate in New Business Take-On meetings.
- Review Low and Medium Risk Compliance Reviews, commenting on findings and monitoring resolution.
- Conduct independent reviews of high-risk entities and report findings.
- Risk assess new business and ensure the computer database is up to date.
- Carry out quarterly PEP/HPP/HNW reviews and monitor relevant sites such as World-Check, Google, and KYC 360.
- Monitor the 90-Day New Business assessments and risk assessments completed by RMs.
- Review all Liaison Notices, Sanction lists, etc., and update data accordingly.
- Review the Power of Attorney Register monthly to ensure correct CDD and issuance.
- Review in-house entities for compliance.
- Act as MLRO:
- Review and consider internal SARs, investigate, and externalise SARs if necessary.
- Maintain records for Production Orders and liaise with JFSC and JFCU.
- Monitor the performance of Deputy MLROs and their decisions.
- Obtain annual SAR awareness confirmations from all staff.
- Conduct weekly MLRO internet checks on sites such as OFAC, FBI, BoE, and Data Protection.
- Act as CO:
- Monitor and recommend updates to policies and procedures.
- Draft policies and procedures where not already in place.
- Monitor:
- USA websites to mitigate jurisdictional risks.
- Regulatory Monitoring as required under JFSC Codes of Practice.
- Functional/activity monitoring, including checking bank reconciliations, distributions, and Powers of Attorney.
- Data Protection Registrations and filings.
- PII cover renewal and assess adequacy, flagging deficiencies to the Board.
- New and Lost Business monitoring.
- Maintain and update registers such as complaints, breaches, litigation, gifts, advertising, conflicts of interest, data protection, and PEP/HPP.
- Prepare reports including New Developments, Management Control, Regulator Communications, Breaches, and Compliance Reports.
- Perform other tasks as required by the Board.
Job Requirements:
- Extensive knowledge of AML, CFT, and regulatory compliance principles.
- Proven experience in an MLRO or CO role, or a similar compliance-focused position.
- Strong organisational skills and attention to detail.
- Experience in conducting compliance monitoring and reporting.
- Ability to maintain and update compliance registers and databases.
- Proficiency in using compliance-related digital tools.
- Excellent communication skills for liaising with regulators and internal teams.
- Experience in drafting and updating compliance policies and procedures.
- Ability to assess and mitigate risks effectively.
What You’ll Love
Our client offers a supportive and dynamic environment for compliance professionals to grow. You will work closely with senior management, the Board, and other teams while playing a pivotal role in maintaining high standards of compliance across the organisation. The company values innovation and proactive problem-solving, allowing you to make a significant impact on compliance processes and strategies. You’ll also enjoy a collaborative team environment where your skills and expertise are valued and developed.
Interested? Register today, confidentially, with one of our friendly and dedicated recruitment specialists by clicking here
