Aml Officer

2 months ago

London, United Kingdom MG Recruit Full time

Job Title**:AML Officer (1st Line)**

Reports to**:UK MLRO**

Company**:Practika Ltd (UK)**

Location**:Remote**, **home based**

**Background**

Our client is a sustainable payment solution both for Business and Individuals. The company provides several financial services: dedicated IBAN, mass payment service, multicurrency wallet, marketplace.

The company draws together substantial expertise from banking, asset administration, fund management, trading, and digital asset security to establish a secure and scalable digital asset investment business. To support the rapid growth of the company and to accelerate the institutional adoption of digital assets, they are actively seeking to onboard best-in-class talent globally.

**Key Purpose of Role**:
As an AML Officer, you will play a key role in the delivery of our proactive supervisory work. You will support a range of activities that address the risk of financial crime and engage with regulated firms, individuals, and other stakeholders to tackle anti-money laundering and terrorist financing risk within the AML 1st line operations team.

You will primarily carry out desk-based reviews to assess firms processes and procedures, compliance with money laundering and terrorist financing regulations, financial sanctions, KYC (CDD/EDD) and our standards and regulations. Using your analytical skills, you will gather and analyze information to help increase our understanding of firms and their ability to manage money laundering risks.

You will bring to this role excellent analytical skills and be able to write clear and concise communications on complex matters. In this role, you will deliver excellent levels of service and establish credibility with firms, as well as with internal and other external stakeholders.

**Key Accountabilities / Outcomes**:
***:
Be responsible for monitoring / assessing that appropriate systems, controls, policies and procedures are established and maintained to ensure compliance with the relevant Company's obligations concerning money laundering and to reduce the risk of financial crime.

Supporting the MLRO on financial crime-related matters to the business, supporting and sharing knowledge with Compliance colleagues based in Europe and Dubai.

Ensure that appropriate customer due diligence is conducted, including identifying and verifying the identity of customers and beneficial owners and obtaining information on the purpose and nature of the business relationship.

Ensure that copies of, or references to, the evidence of a customer's identity is kept for five years after the end of the customer relationship and details of customer transactions are kept for five years from the date of the transaction.

Ensure that systems are in place which enable the relevant Company to respond fully and rapidly to any enquiries from financial investigators relating to whether it maintains or has maintained a business relationship with any person and the nature of that relationship.

Monitor day to day operation of the relevant Company's anti-money laundering policies and assist the MLRO in responding promptly to any reasonable request for information made by the FCA or other enforcement agency.

Receive and consider internal money laundering and sanctions alerts escalated by the first line,

Review money laundering reports from staff when they know or suspect, or have reasonable grounds for knowing or suspecting, that a person is engaged in money laundering or terrorist financing and present recommendations to the MLRO.

Ensure that funds, economic resources and financial services are not made available to persons listed as the targets of financial sanctions legislation.

Support the implementation of the new online client portal to comply with the anti-financial crime controls.

Communicate with the first line of defence and account managers to obtain documentation and/or information required.

Assist with annual audit requirements.

Onboard low, medium, and high-risk corporate and private/business/retail clients (including PE/VC funds, foundations, and trusts).

Maintain current knowledge of financial crime trends to enhance policies and procedures. Identify and articulate red flags of financial crime by way of a suspicious activity report.

Pro-actively manage the periodic review population, ensuring KYC on all clients remains valid and compliant with UK/Europe regulations

Performing reviews on overnight screening hits to confirm materiality or not

Communicate refresh requirements to Account Officers and / or clients directly

Undertake thorough due diligence on all existing counterparties including identification, verification and World Check One Screening of clients and associated parties

Looking at the daily Transaction Monitoring alerts and releasing payments

**Experience and Knowledge Required**:
Ideally some AML and financial crime experience.

Professional qualifications, such as the CISI Diploma, or equivalent. Any specific professio

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