Money Laundering Reporting Officer

1 week ago

London, Greater London, United Kingdom Quilter Full time

What the Hiring Manager Says

The Money Laundering Reporting Officer (MLRO) role is responsible for identifying, assessing, monitoring and managing the risk of financial crime, in line with Quilter's risk appetite. This incorporates Anti-Money Laundering/Counter Terrorist Financing (AML/CTF), Anti-Bribery & Corruption (ABC), fraud prevention, sanctions and the prevention of the facilitation of tax evasion. This is a Group wide role and the MLRO will hold the SMF17 controlled function for businesses within both the Affluent and High Net Worth segments. Chief Risk Officer About the Role Level : Level 6 Department: Risk Location : Southampton, England | London, England Contract type : Permanent
  • Provide expert advice and guidance to the business, acting as subject matter expert on all financial crime matters.
  • Lead the development, implementation and maintenance of Quilter's approach to financial crime prevention, ensuring risk-based and proportionate frameworks, policies and controls are in place to deliver effective management of financial crime risks across Quilter in line with Quilter's risk appetite, and compliant with legal and regulatory requirements.
  • Ensure that components of the framework are delivered eg regular enhanced due diligence of high risk customers and approval to maintain high risk relationships.
  • Implement automated systems and processes to increase efficiency and data led financial crime team activity.
  • Be responsible for oversight of compliance with financial crime rules and regulations; providing oversight over the execution performed by the business.
  • The MLRO must be forward looking in seeking to identify financial crime risks and making proactive recommendations to mitigate/eliminate such risks, undertaking periodic and ad hoc risk assessments and gap analyses, and escalations as necessary, and with a specific focus on high risk customers and reviewing and signing off on associated enhanced due diligence.
  • Lead investigation and submission of Suspicious Activity Reports, ensuring quality and timeliness.
  • Lead investigation of frauds, working closely with other teams eg Data Protection.
  • Leading team liaison with law enforcement and other authorities, acting as the primary contact point, in relation to financial crime related matters.
  • Responding to FCA requests for information and participating in other regulatory engagements, as relevant.
  • Ensuring the accurate and timely submission of the FCA annual Rep Crim report.
  • Keep pace with changes in legislation, regulation and market practice. Liaise with industry bodies on compliance and regulatory developments. Lobby industry associations and provide support with regulators when necessary.
  • Ongoing monitoring of financial crime risks and controls; designing an annual plan of BAU and thematic monitoring and following up on recommendations once reviews are completed.
  • Provide insightful reporting to senior management and Boards on the effectiveness of the financial crime systems and controls and the Quilter annual MLRO report.
  • May hold the MLRO Senior Manager Function controlled function or certified role for all businesses in the Affluent and High Net Worth segments.
Risk Leadership
  • This role is a member of the Group level Risk Leadership Team, supporting the One Quilter Group Risk Function" culture and approach, fostering positive relationships and providing consistent second line challenge and co-ordinating an effective second line function across the Group.
  • This role supports the Quilter CRO in maintaining an effective second line framework for Quilter, including supporting on strategic initiatives as needed. It supports the Quilter CRO in respect of enhancing and optimising second line arrangements.
  • Identifies and nurtures talent to ensure appropriate succession planning within the team, creating an internal pipeline of high potential employees to ensure the delivery of the function's goals and continuity.
  • Uses in-depth knowledge and experience to support employees, promoting a culture of curiosity and continuous improvement and ensuring best practice is applied across the function.
  • This role will lead their team to provide an effective, pragmatic, commercially focused and valued service to the business, recognised for delivering high quality advice, guidance, assessment, challenge and insight. It drives improvements to the engagement, and engagement scores of the team, including by identifying and addressing issues.
Stakeholder Engagement
  • This role constructively influences and partners with key internal stakeholders, including the Risk Leadership Team, providing incisive risk analysis and challenging on Quilter's risk profile and its management.
  • You will robustly intervene when needed, raising and challenging on key areas of risk exposure and in requiring management to take actions to address deficiencies. Present opinions and information to the relevant governance committees/forums as required.
  • Partners with 1st and 3rd line assurance teams to develop an effective overall 'three lines' control framework.
  • Manages and develops relationships with industry/professional and threat intelligence bodies, providing insights, setting and managing expectations regarding services and ensuring a clear understanding of requirements. Pro-actively promotes an effective risk culture including influencing the attitude to, and understanding of, risk across the business.
  • Provides leadership, risk oversight, challenge and advice to the business, management and governance structures.
About You Applications from people with diverse backgrounds enables our inclusive organisation to thrive. If you feel you don't match our job description exactly, why not take a chance on yourself and apply? You could be exactly what this role needs. You will have:
  • Proven experience in either a MLRO or Deputy MLRO role within a regulated financial services firm, preferably in wealth management and/or platform business.
  • Prior Senior Management Function or certified status is desirable.
  • Proven experience in the design and implementation of financial crime prevention frameworks, policies and procedures in a regulated financial services firm.
  • Experience of managing, motivating, developing and leading employees in a financial crime prevention function.
  • Extensive SME knowledge of and the ability to interpret Financial Crime legislation.
Our purpose is to help the generations today and tomorrow to prosper. That means we must guide people through the complexity of planning for their future, with the right financial advice and investment solutions, so that they can have more secure financial futures. In this ever-changing world, we see that our role in society has never been more meaningful, and we are committed to using our expertise and care to guide our customers through these challenging and unprecedented times. Our impressive talents and capabilities set us apart, but our unwavering commitment to our customers is what defines us. We truly believe that we have all the ingredients to be the very best in our industry, and we want great people with the care and creativity that we need, to help us get there. We are passionate about building an inclusive culture where everyone's contribution is valued, and our people can thrive. No matter what your role is or where you sit, your voice will matter. We hope you like what you hear and are interested in learning more about joining us. #LI-SM2 Core Benefits Holiday: 26 days Quilter Incentive Scheme: All employees are eligible to participate in our incentive scheme, based on the company's performance and their contribution to it Pension Scheme: 10% non-contributory company pension scheme that can be boosted through personal contributions Private Medical Insurance: Single cover as standard, cover can be increased at your own cost Life Assurance: 4x your salary, cover can be increased at your own cost Income Protection: 75% of salary payable after 26 weeks of absence In addition to our core benefits we offer a range of flexible benefits that you can choose from and pay for conveniently via a salary deduction.

Quilter is one of the biggest names in financial services in the UK, providing financial advice, investments and wealth management to help our custome...

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