Chief Risk and Compliance Officer/money Laundering

4 weeks ago

London, United Kingdom eFinancialCareers Full time

We are an Electronic Money Institution licensed by the Financial Conduct Authority in London, United Kingdom, looking to recruit an experienced Chief Risk and Compliance Officer/MLRO with at least 8-10 years of experience in the industry to assist the firmin its expansion plan.

**THE ROLE**

The incumbent will have the level of authority, independence, and support to properly carry out their responsibilities in connection with the Firm’s Compliance Program, AML, CTF, FCA Handbook requirements and PSDII Directive.

The Firm is committed to the highest standards of controls, governance, and independent oversight. We are looking for extensive experience in the financial industry and proven track records and experience who is excited to design, lead and shape the futureof oversight and Compliance within the Firm.

**DUTIES**

This role is crucial to providing risk, and compliance accurate advice to the Chief Executive Officer and Board of Directors. This role is key to driving the implementation of Risks and Compliance controls and includes a broad set of cross-functional responsibilitiesto ensure that all personnel are trained, processes are scalable, metrics are accurately reported as well as all FCA timely reporting and requirements.

The main responsibilities of this role are to:

- To provide open and honest regulatory liaison, building a strong working relationship with regulatory bodies, notably the FCA.
- Reviewing legislation and conducting gap analyses to ensure the firm remains compliant with obligations
- Acting as Money Laundering Reporting Officer.
- Acting as Data Protection Officer with responsibility for maintaining the Data Protection Policy.
- Providing advice and guidance on compliance and risk to all members of the organisation.
- Assisting in responding appropriately to alleged breaches and non-compliance with applicable regulations and policies.
- Contribute to strategy and business planning, notably from a risk and compliance perspective.
- To develop and embed a strategic approach to risk and compliance and a target operating model for the firm.
- To provide strategic, actionable advice, support and guidance on JMLSG, FCA rules, UK Bribery Act, Sanctions and any other applicable rules and guidance and support the corporate governance, to enable the enhancement of the corporate governance, financialcrime and risk frameworks.
- To facilitate appropriate risk reporting through the governance structure, including working with the relevant Director and team to enable an appropriate degree of consistency in risk reporting.
- To ensure that the Function is appropriately resourced and directed such that it is effective in delivering appropriate advice, guidance and challenge to the business on risk and compliance matters.
- To be a trusted advisor to the business to help achieve good customer outcomes and positive regulatory relations.
- To maintain an independent mindset and effectively challenge where necessary to achieve a robust second line of defence.
- To provide leadership in relation to Risk and Compliance Monitoring Function.
- To advocate risk and compliance, champion a positive risk culture.
- Supervision of appropriate measures to ensure that money laundering and the financing of terrorism risks are considered in the Firm’s day-to-day operations, including in relation to the development of new products; the taking-on of new customers, and changesin the Firm’s business profile.
- Building, and taking accountability for, the AML / CTF risk management program and the undertaking of regular AML / CTF risk assessments.
- Proactively identifying situations that may pose significant Compliance risk and guide management in the development / reviewing / updating of relevant policies, procedures, and business practices.
- Driving a Compliance review and analysis of new regulatory developments and maintaining oversight of developments impacting business activities.
- Participating and collaborating in Compliance advisory and integration projects as well as conducting Compliance assessments and define requirements as needed for the approval of business projects and initiatives such as new product development and changesto existing products.
- Preparing reports to Executive management and escalating any key or high-risk Compliance issues within the Firm’s existing governance structure.
- As MLRO, you will also provide support to the business by providing guidance, as appropriate.
- Working cross-functionally across multiple teams to ensure execution against regulatory requirements and internal policies.
- Collaborating with internal Compliance and Fraud staff to identify clear steps necessary to mitigate those regulatory risks and provide those recommendations in the form of clear business requirements.
- Partnering with Product Owners to educate and drive the appropriate execution of Compliance requirements.
- Promptly respond to any reasonable request for information from the regulator and/or law enforcement agencies.
- Oversee KYC/CDD and AML/CTF checks conducted by both outsourced and local compliance staff.
- Review potential/existing high-risk relationships and ensure the immediate investigation of all internal suspicious activity reports received.
- Ensure the submission of a SAR to the relevant law enforcement agency regarding all suspicions that have substance.
- Conduct the annual Financial Crime Risk Assessment and advise actionable driving through actions from the analysis of results.
- Participate in AML/CFT internal and external audits

The incumbent will also be expected to become a director of the firm at the companies house records, and FCA EMD approved Individual for the AEMI.

**KEY REQUIREMENTS**

Knowledge and experience

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