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- Tasks: Lead the fight against money laundering and financial crime in a dynamic banking environment.
- Company: Join a leading bank committed to compliance and ethical standards.
- Benefits: Enjoy hybrid working, competitive salary, and professional development opportunities.
- Why this job: Make a real impact while working with top professionals in a supportive culture.
- Qualifications: Bachelor’s degree and 10 years of compliance experience required; AML expertise is essential.
- Other info: Be part of the Executive Risk Committee and shape the future of banking compliance.
The predicted salary is between 88000 - 105000 £ per year.
Location: London, England
Sector: Banking
Salary: £110,000.00 to £125,000.00 per annum
Money Laundering Reporting Officer (MLRO) - SMF 17
Location: London, UK - Hybrid working
Role Responsibilities:
- Oversee and implement policies, procedures, and controls to prevent and detect money laundering and financial crime within the Bank.
- Ensure regulatory and statutory compliance, advising senior management and staff on AML/FC rules.
- Develop and maintain the AML/CTF framework, including conducting annual risk assessments and mapping mitigating controls.
- Oversee transaction monitoring and ensure unusual transactions are identified, analysed, and reported appropriately.
- Act as the Bank's primary contact with the NCA and other relevant agencies on AML matters.
- Prepare and present the MLRO annual report and manage all SARs submitted to the NCA.
- Ensure effective AML training for staff and monitor adherence to sanctions and screening tools.
- Fulfil statutory obligations under SMF 17 (Money Laundering Reporting Function).
- Participate as an active member of the Executive Risk Committee.
Requirements:
Education: Bachelor’s Degree or equivalent preferred.
Professional Qualifications: ICA Diploma in Governance, Risk & Compliance, Anti Money Laundering, or Financial Crime Prevention (or equivalent).
Experience: Minimum 10 years of experience in compliance, with either prior experience holding SMF16 or a solid regulatory compliance background. Candidates should have expertise in anti-money laundering and financial crime prevention, with a demonstrated readiness to step into an approved person role. Retail banking background. Experience in financial services and familiarity with UK regulatory requirements.
Skills & Knowledge: Strong understanding of UK regulatory and statutory AML/CTF requirements. Detailed knowledge of financial services compliance. Ability to monitor regulatory changes and advise teams accordingly. Strong ethical standards aligned with the FCA’s Senior Managers Regime.
Contact Detail:
Broadgate Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Money Laundering Reporting Officer - SMF 17
✨Tip Number 1
Network with professionals in the banking and compliance sectors. Attend industry events or webinars where you can meet current MLROs or compliance officers. This can provide you with insights into the role and potentially lead to referrals.
✨Tip Number 2
Stay updated on the latest AML regulations and financial crime trends. Subscribe to relevant newsletters or join professional groups focused on compliance. Demonstrating your knowledge during interviews can set you apart from other candidates.
✨Tip Number 3
Prepare for potential interview questions by reviewing common scenarios faced by MLROs. Think about how you would handle specific compliance challenges and be ready to discuss your past experiences in similar situations.
✨Tip Number 4
Showcase your leadership skills and ability to work with senior management. As an MLRO, you'll need to advise and influence others, so be prepared to discuss examples of how you've successfully led teams or projects in the past.
We think you need these skills to ace Money Laundering Reporting Officer - SMF 17
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in compliance and anti-money laundering. Emphasise any previous roles where you held similar responsibilities, particularly those related to SMF 17.
Craft a Strong Cover Letter: In your cover letter, clearly articulate your understanding of AML/CTF regulations and how your background aligns with the role's requirements. Mention specific achievements that demonstrate your expertise in financial crime prevention.
Highlight Relevant Qualifications: Ensure you mention your ICA Diploma or equivalent qualifications prominently. If you have additional certifications or training related to compliance or financial crime, include those as well.
Showcase Your Leadership Skills: As the MLRO will be advising senior management, highlight any leadership or advisory roles you've held. Discuss your experience in developing policies and training staff on compliance matters.
How to prepare for a job interview at Broadgate
✨Know Your AML Regulations
Make sure you have a solid understanding of UK anti-money laundering regulations and compliance requirements. Be prepared to discuss how these regulations impact the role of an MLRO and how you would ensure adherence within the bank.
✨Demonstrate Your Experience
Highlight your relevant experience in compliance, especially if you've held roles like SMF16. Share specific examples of how you've successfully implemented AML policies or managed financial crime prevention initiatives in previous positions.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving skills in real-world situations. Think about how you would handle unusual transactions or regulatory changes, and be ready to explain your thought process.
✨Showcase Your Communication Skills
As an MLRO, you'll need to communicate effectively with senior management and external agencies. Prepare to discuss how you would present complex information clearly and concisely, particularly when preparing reports or advising on compliance matters.
