Money Laundering Officer (MLRO) in London

About 1st Formations

At 1st Formations, we empower entrepreneurs to start, run, and grow their businesses with confidence. Running a business shouldn't be slowed down by company formation, statutory compliance, accounting, or payroll. From day one, these essentials should be seamless, reliable, and intelligently handled — freeing founders to focus on building and scaling.

We're a leading UK provider of company formation and compliance services, building a modern, fully integrated technology platform that supports founders at every stage of their journey. Our platform brings together formation, compliance, accounting, payroll, and ongoing business support in one cohesive experience.

Why Join Us Now?

• You'll be joining a business with strong momentum, clear direction, and real opportunity for progression.
• £18m annual revenue, including £9m ARROver 1 million companies formed.
• Certified B Corp and Carbon Neutral Business.
• Forecast to grow 5x–10x over the next three years.

The Role

The MLRO will serve as the registered Money Laundering Reporting Officer, with full accountability for suspicious activity reporting, regulatory engagement, and the consistent application of the highest regulatory and governance standards across the business. This is a senior, operationally hands‐on role that combines day‐to‐day MLRO responsibilities with strategic compliance direction — protecting the business through robust controls, proactive risk management, and continuous regulatory horizon scanning, including as the business enters new payments and financial services markets.

Key Responsibilities

• Serve as the registered MLRO, with full responsibility for suspicious activity reporting, SAR submissions, and direct engagement with the NCA and FCA.
• Own and evolve the group risk framework, including the risk register, risk appetite statements, and the three‐lines‐of‐defence model.
• Lead AML and financial crime compliance across the group, ensuring ongoing adherence to the Proceeds of Crime Act, Money Laundering Regulations, and GDPR.
• Oversee KYC controls, sanctions screening, and SAR reporting — continuously optimising processes to handle high volumes of customer onboarding and transactional activity.
• Drive regulatory horizon scanning, proactively tracking changes to the regulatory landscape and briefing senior leadership with clear, actionable plans.
• Maintain and improve control effectiveness, overseeing first‐line self‐assessment and second‐line assurance activity, ensuring audit findings are actioned within agreed SLAs.
• Partner with business leaders and commercial teams to enable growth by embedding compliance into operational and product development processes.
• Manage relationships with external regulators, auditors, and relevant third parties with professionalism and confidence.
• Oversee compliance tools and technologies, including AML monitoring systems and case management platforms.
• Monitor and report on risk posture and compliance KPIs, providing regular updates to the COO, CEO, and senior leadership.

What We Are Looking For

• 10+ years of compliance and risk leadership in a regulated sector — financial services, fintech, payments, or similar.
• Proven experience as an MLRO or Deputy MLRO, with direct responsibility for SAR submissions and engagement with the NCA and FCA.
• Deep expertise in AML and financial crime, with strong working knowledge of the Proceeds of Crime Act, Money Laundering Regulations, GDPR, and FCA guidance.
• Experience building and managing risk frameworks using the three‐lines‐of‐defence model at scale.
• A track record of regulatory horizon scanning and delivering compliance change programmes on time.
• Experience managing and developing compliance teams, including line management of junior staff.
• Familiarity with AML monitoring systems and case management platforms.
• A pragmatic, business‐enabling mindset — able to advise on risk‐based decisions that support growth rather than obstruct it.
• Strong stakeholder management skills, with the ability to communicate complex regulatory matters clearly to senior leadership and external partners.
• Analytical, data‐driven approach to assessing risk posture and prioritising remediation.
• Relevant professional qualification (ICA, CAMS, CISI, or equivalent) strongly advantageous; Bachelor's degree required.
• Experience in a founder‐led or fast‐growth environment is desirable.

What We Offer

• Competitive salary and comprehensive benefits package.
• Hybrid working model—Mondays, Wednesdays and Fridays in the Office.
• Real opportunities for progression as the business scales.
• The chance to influence both customer experience and product development.
• A culture that values ownership, impact, and continuous learning.

Equal Opportunities

1st Formations is an equal opportunity employer and is committed to creating a diverse and inclusive workplace. We consider all applicants for employment without regard to race, colour, religion, sex, national origin, sexual orientation, age, citizenship, marital status, criminal history, disability, or gender identity. We encourage individuals from all backgrounds to apply. If you have a disability or special need that requires accommodation, please let us know.