Money Laundering Reporting Officer

Company Description

At FM Finance Ltd (trading as FMPay), we enable businesses to grow through a unified payment platform that seamlessly connects them with customers across the globe, regardless of location or preferred payment method. We strive to become the premier end-to-end secure solution for merchants to accept all currencies and payment types.

Role Description

This is a full-time hybrid role for a Money Laundering Reporting Officer (MLRO) based in Cheltenham, with flexibility for some work-from-home days. The MLRO ensures full adherence to regulatory requirements, combats financial crime, and safeguards the Company's integrity while maintaining the trust of regulators and key stakeholders. The MLRO is responsible for receiving and submitting suspicious activity reports, investigating unusual transactions, developing relevant policies and procedures, and delivering staff training.

In addition, the MLRO supports the Risk Management and Compliance Department by identifying and assessing potential financial crime risks that may impact the Company's operations. The role collaborates closely with customer service and onboarding teams to ensure the successful onboarding of appropriate customers. The MLRO also evaluates deficiencies in policies and operational processes and implements mitigation measures aligned with the Company's business objectives and risk appetite to support long-term success.

Reporting

The MLRO will have a direct reporting line to the Board of Directors.

Compensation

Starting from £75k

Qualifications

• Certification in Compliance (ICA, CAMS, or equivalent)
• Bachelor's degree or higher in Law, Finance, Business, or a related field
• Minimum of 5 years' experience in AML/CTF, compliance, or financial crime prevention
• Previous experience as an MLRO or as a senior AML/Compliance Manager within financial services or fintech

Key responsibilities

• Receiving and promptly evaluating internal reports of transactions or activities that may indicate ML/FT, and submitting Suspicious Transaction Reports to the NCA within applicable timeframes, including when reasonable grounds, suspicions, or knowledge of ML/FT exist—even without an internal report.
• Responding within required deadlines to information requests from the NCA and other regulatory authorities.
• Conducting regular reviews of the Company's business activities, assessing potential risks, performing independent customer risk classification checks, and adjusting classifications in line with internal regulations.
• Maintaining an effective Business Risk Assessment that captures current and emerging risks, including identifying, evaluating, and proposing mitigation measures.
• Approving high-risk clients, deciding on transaction postponements, and issuing orders to freeze funds or settlements in customer accounts when necessary.
• Ensuring timely reporting to relevant authorities, including FCA RegData and Connect submissions.
• Providing recommendations to enhance systems and procedures related to financial crime, money laundering, terrorist financing, and sanctions evasion.
• Assisting in the development and implementation of an effective AML compliance programme and ensuring sound internal controls are applied.
• Drafting and updating the Company's Anti-Financial Crime policies and procedures (AML, CFT, Sanctions, Fraud, etc.).
• Participating in enterprise risk assessments and advising employees during service development.
• Proactively monitoring processes, practices, and documentation to identify weaknesses.
• Delivering AML training to all new employees, providing training on regulatory changes, and offering periodic refresher training to existing staff.
• Maintaining proper records and files.
• Liaising with regulatory authorities and external auditors as required.
• Reporting to the Board in the agreed format and keeping the Board and senior management informed of any emerging issues.

Additional responsibilities

• As FM Finance Ltd is a regulated financial institution, you are expected to consistently comply with all applicable laws and the Company's policies and procedures.
• Maintain continuous professional development of at least 20 hours annually.
• Perform any other reasonable tasks assigned by management.