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Compliance Officer/MLRO - Four Days Per Week

  • Location: London
  • Sector: Compliance
  • Salary: Up to £80000 per annum
  • Job type: Permanent
  • Date posted: 24/10/2018
  • Job reference: 31275
This vacancy has now expired.

Our client is long-established banking group

Compliance:

Oversight of the Bank's compliance function, ensuring compliance by the Bank with all legal and regulatory requirements

MLRO:

Oversight of compliance with FCA's rules on systems and controls against money laundering and for countering the risk that the firm might be used to further financial crime

Compliance:

  • Compliance with all relevant regulatory authority regulation and with in-house procedures
  • Putting in place adequate measures and procedures to minimise risks and to address any deficiencies in the Bank's compliance with its obligations both legal and regulatory
  • Monitoring and, on a regular basis, assessing the adequacy of the measures and procedures put in place to enable the Bank to comply with its obligations under the legal and regulatory system

MLRO:

  • Establish and maintain effective AML systems and controls
  • Oversight of compliance with the FCA's rules on systems and controls against money laundering

Focal point for all activity within the Bank relating to AML

Compliance:

  • Keep up to date with, and understand, relevant laws and regulations
  • Update and maintain the Bank's Management Responsibilities Map in accordance with regulatory requirements
  • Apply for SMF approvals from PRA/FCA
  • Monitor compliance with laws, regulations and internal policies
  • Identify and assess compliance risks associated with current and future business activities including new products
  • Maintain compliance records
  • Ensure findings are recorded and followed up with management so that issues can be rectified
  • Educate employees on not only the regulations but also the impact to the Bank if these are not complied with
  • Investigate irregularities and non-compliance performance
  • Highlight or escalate areas of concern
  • Contribute to robust and effective compliance controls within the Bank
  • Review marketing materials, presentations and websites to ensure compliance with regulatory requirements
  • Assist in the gathering of internal information in response to regulatory requests
  • Collaborate with other departments to create a culture of compliance

MLRO:

  • Appropriate documentation of risk management policies and risk profile in relation to Money Laudering and Financial Crime, including documentation of the Bank's application of those policiesin the form of procedures.
  • Provision of information to the governing body and senior management, including a report to the Board at least annually on the operation and effectiveness of the relevant systems and controls
  • Keeping up to date with all relevant legislation and ensuring changes are incorporated within Bank policies and procedures
  • Appropriate measures to ensure that the money laundering risk is minimised in the day-to-day-operation, including in relation to: a) taking on of new customers; b) monitoring of existing account base; c) development of new products; d) changes in the business profile
  • Sourcing and provision of appropriate AML/Financial Crime training to relevant staff
  • Ensuring AML record keeping requirements are adhered to
  • Ensuring full understanding of suspicious activity reports ('SARS') amongst staff and timely submission of SARS (where appropriate) to National Crime Agency
  • Ensuring regular delivery of appropriate and effective AML/Financial Crime training for all relevant staff
  • Completion of annual report to FCA
  • Review all credit submissions prior to Credit Committee meeting to ensure consideration of, and adherence to all AML/Financial Crime regulations.

Candidates will have a thorough knowledge of compliance issues/ AML/financial crime risks in a) retail banking; b) correspondent banking; c) trade finance

It is likely that the candidate will already or previously have heled the SM16/17 designation

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