Compliance Officer and Money Laundering Reporting

6 days ago

London, United Kingdom LJM Recruitment Full time

We are looking to recruit an MLRO and Compliance to lead our Compliance Function, playing an essential role in helping fight financial crime and manage our regulatory requirements. You will act as a Payment Service Directive (PSD) Individual with the FCAand Nominated Officer with HMRC for the company.

As Compliance Officer and MLRO, you will be responsible for the Compliance and Risk Frameworks, working directly with the Managing Director and Financial Planner as part of the Senior Management Team.

The role includes hands-on involvement in Compliance and AML processes including onboarding and transaction monitoring.

This role could be a fantastic opportunity for an existing Compliance Officer or MLRO or for a Compliance Manager or Deputy MLRO looking for their step in their career.

**Key Responsibilities include**:

- **Compliance Framework** - Maintain and develop the Compliance Framework of Policies, Procedures, Systems, and Controls ensuring these remain in line with regulatory requirements, risk appetite, and operationally effective as it grows, withany identified deficiencies remedied promptly.
- **Risk-Based Approach** - Managing and developing the Risk-Based Approach through the Whole Firm Risk Assessment and Client Risk Assessment, including identifying and assessing new and emerging Money Laundering risks to them and their relevantmitigations.
- **Regulatory** - Ensuring ongoing compliance with current legislation and regulation, and new legislation and regulation as and when it becomes relevant.
- **Regulatory -**Ensuring all regulatory reporting is accurate, complete, and submitted promptly and acting as the primary contact for all contact with regulatory and law enforcement bodies.
- **Suspicious Activity** - Receiving and investigating all internal Suspicious Activity Reports (SAR) raised and if appropriate raising externally with the National Crime Agency (NCA) in a timely manner.
- **Onboarding and Ongoing Monitoring** - Conducting Due Diligence reviews and client approvals on all new clients and on a periodic basis of existing clients.
- **Transaction Monitoring -**Monitoring, reviewing, and approving transactions identified for review and setting client trade limits.
- **Governance -**Produce regular Compliance Reports and represent the Compliance Function at Senior Management Meetings.
- **Compliance Monitoring -**Develop and maintain the Compliance Monitoring Plan to monitor the ongoing effectiveness of the Compliance Framework, including management of compliance audits.
- **Training** - Ensure all staff receives relevant and regular training in relation to Money Laundering and their relevant responsibilities, including management of training materials and training log.
- **Risk-Based Approach -**Managing Political Exposed Person (PEP) and Sanctions exposure within the client base and transactions.

**Key Requirements**:

- 1+ years experience as MLRO or Compliance Officer or 2+ years experience as Deputy MLRO or Compliance Manager.
- Experience within the payment and/or FX industry ESSENTIAL.
- Strong knowledge of the UK legislative and regulatory environment and requirements, e.g., Payment Service Regulations, Money Laundering Regulations, etc.
- The right to live and work in the UK is essential.
- Motivated, organised, and able to multitask.
- Good communicator to other business functions and senior management.
- Suitable to undergo Fit and Proper Person checks e.g., no upsent convictions.
- Bonus if you have an external AML qualification e.g., ICA or ACAMs.

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