Money Laundering Reporting Officer

Our Client, a mid sized European Bank, is looking for an MLRO (SMF17) for their London Office. The salary is £110K to £140K. Further details below:

- **JOB PURPOSE**
- To support the Executive in achieving their Strategic Plan and objectives to manage the Bank’s efforts to prevent financial crime, detect suspicious activity, and report it to relevant authorities.
- To fulfil the statutory obligations of the ‘MLRO.
- To hold and execute the requirements of the SMF 17 (Money Laundering Reporting Function).
- This Job Description should be read in conjunction with the SMF 17 Statement of Responsibilities (SoR).

**RESPONSIBILITIES & ACCOUNTABILITIES**

Overseeing and implementing policies, procedures and controls to prevent and detect money laundering and other financial crime within the Bank.

Accountable for ensuring all employees fulfil their responsibilities thereby ensuring that full regulatory and statutory compliance is maintained at all times within the Bank

Overseeing and assisting Senior Management as required in the establishment and ongoing maintenance of the AML/CTF framework.

To constantly develop and maintain policies and procedures of the AML/CTF framework in line with evolving statutory and regulatory obligations.

Conduct an annual risk assessment of the Bank and map mitigating controls.

Oversight of First Line of Defense (1LoD) procedures and monitoring programmes to ensure that the unusual transactions are identified and analysed.

Receive and assess all internal Suspicious Activity Reports (SARs) with onward reporting to the National Crime Agency (NCA) when required.

To be the Bank’s point of contact with NCA and other regulatory, law enforcement and investigatory agencies on AML matters.

Respond to Production and other Court Orders and prepare evidence as appropriate.

Ensuring compliance with AML staff training obligations, including ensuring that all relevant staff receive effective training appropriate to their needs.

The MLRO is responsible for overseeing the sanctions and transaction monitoring regime within The Bank including its screening tools.

Ensure that the Bank consistently and effectively always operates within all relevant regulatory and statutory requirements, including the Consumer Duty *

Advise senior management and staff about changes to AML/FC rules.

Keep senior management and/or related departments notified as to AML/FC returns to be completed and timeframes for submission to the FCA and PRA.

Conduct Transaction Monitoring and undertake reviews of KYC.

Ensure that the Bank follows anti money laundering legislation.

Prepare and present the MLRO annual report

Be an active member of the Executive Risk Committee

**Other Duties**

The MLRO must ensure that an assigned deputy is adequately equipped to cover MLRO duties during any short absences (sickness, courses) and during annual holidays.

Assist staff with interpretation of rules and regulations and ensure that staff awareness is always at satisfactory levels.

Provide training on Compliance and Financial Crime related matters to bank staff.

Undertake other duties appropriate to the grade and character of the work as may reasonably be required. The list of duties in the job description should not be regarded as exclusive or exhaustive.

**SENIOR MANAGERS AND CERTIFICATION REGIME**

Execute the responsibilities of the SMF 17 (Money Laundering Reporting Function).

**EQUAL OPPORTUNITIES**

To be able to demonstrate a commitment to the principles of the Bank’s Equal Opportunities and to be able to carry out duties in accordance with this policy.

**KEY COMPETENCIES**

**Consumer Duty**: All staff must be aware of and understand the FCA’s requirements regarding Consumer Duty (CD) incorporated in the Bank’s Policy and help the Bank to act in good faith towards customers, avoid causing them foreseeable harm, and enable and support them to pursue their financial objectives.

**Fraud Prevention**: Policy statement No.18. All management and staff must be alert to the possibility of fraud, ensuring that no action is undertaken on behalf of the Bank or a customer without a clear understanding of the purpose and background to the transaction.

**Attention to Detail**: Ensures that information is correctly processed, and that work complies with relevant internal/external rules, procedures, and regulatory requirements.

**Teamwork**: Works co-operatively with others; openly exchanging information where appropriate and supporting colleagues to achieve business goals.

**Planning and Control**: Achieves departmental goals by establishing priorities and managing time efficiently.

**Leading others**: Builds successful and motivated teams who consistently excel in the achievement of business goals. Commits time and effort to coach others in new processes or techniques, providing honest and constructive feedback.

**Making good decisions**: Selects the best course of action based on the available information and accepts per