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- Tasks: Support the MLRO in overseeing AML/CTF policies and compliance.
- Company: Join BBVA, a global leader with over 160 years of experience and 80 million customers.
- Benefits: Enjoy hybrid work options and a dynamic, diverse team environment.
- Why this job: Make a real impact in financial crime prevention while growing your career in a reputable firm.
- Qualifications: 5+ years in AML compliance, strong UK regulatory knowledge, and excellent communication skills required.
- Other info: Opportunity to deputise for the MLRO and engage with law enforcement agencies.
The predicted salary is between 43200 - 72000 £ per year.
BBVA is a global company with more than 160 years of history that operates in more than 25 countries where we serve more than 80 million customers. We are seeking an experienced and highly motivated Deputy Money Laundering Reporting Officer (DMLRO) to support the MLRO in overseeing the anti-money laundering (AML) and counter-terrorist financing (CTF) framework for BBVA London (the branch). The DMLRO will play a critical role in ensuring ongoing compliance with UK regulatory obligations, particularly those set out in the Money Laundering Regulations 2017, the Proceeds of Crime Act 2002, and FCA Handbook SYSC 6.3.
About the job:
- Support the MLRO in the design, implementation, and oversight of BBVA London’s AML/CTF policies, controls, and procedures.
- Act as a secondary point of contact for law enforcement and regulatory bodies including the FCA, NCA, and HMRC.
- Assist in monitoring the effectiveness of the AML programme through ongoing testing, gap analysis, and risk assessments.
- Deliver internal training and awareness programmes to staff at all levels on AML obligations and typologies, sanctions and fraud.
- Generate and review monthly transaction monitoring data reports.
- Provide oversight of transaction monitoring, sanctions screening, and customer risk rating systems.
- Conduct sanctions screening escalations and lead investigations into potential true matches.
- Support in the management and documentation of responses to potential breaches of financial sanctions, working closely with the Holding AML team and engaging with the UK Office of Financial Sanctions Implementation (OFSI) as necessary.
- Assist with the preparation and filing of Suspicious Activity Reports (SARs) to the UK Financial Intelligence Unit (UKFIU).
- Conduct enhanced due diligence (EDD) on high-risk customers including PEPs.
- Assist in the investigation of unusual or suspicious activity and escalate matters as appropriate.
- Provide compliance advisory support to front-office teams on customer onboarding, transaction monitoring, and sanctions.
- Contribute to the annual MLRO report for senior management.
- Monitor fraud alerts, working closely with the Financial Crime Hub to assess threats, and provide compliance input on fraud prevention controls.
- Maintain up-to-date knowledge of regulatory changes, industry best practices, and emerging financial crime risks.
- Deputise for the MLRO in their absence, ensuring continuity of the AML function.
Essential Qualifications & Experience
- Minimum 5+ years of experience in AML/financial crime compliance within an FCA-regulated investment bank or financial institution.
- Strong working knowledge of the UK regulatory framework, including FCA Handbook (SYSC 6.1.1R, SYSC 6.3), JMLSG Guidance, and AML legislation.
- Experience in preparing and submitting SARs, conducting AML investigations, and handling regulatory queries.
- Proven ability to manage and interpret AML systems and transaction monitoring tools.
- Excellent communication skills and the ability to present complex issues to senior stakeholders and regulators.
- Undergraduate degree.
Preferred Attributes
- Prior experience as a DMLRO or equivalent function.
- Familiarity with cross-border AML issues and international sanctions regimes (e.g., OFAC, EU, UN).
- Experience with investment banking AML frameworks is advantageous.
Skills: Customer Targeting, Empathy, Ethics, Innovation, Proactive Thinking.
Deputy Money Laundering Reporting Officer (DMLRO) employer: Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
Contact Detail:
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Deputy Money Laundering Reporting Officer (DMLRO)
✨Tip Number 1
Familiarise yourself with the latest UK regulatory frameworks and AML legislation. Understanding the Money Laundering Regulations 2017 and the FCA Handbook will give you a solid foundation to discuss compliance strategies during interviews.
✨Tip Number 2
Network with professionals in the financial crime compliance sector. Attend industry events or webinars to connect with others who may provide insights or referrals that could help you land the DMLRO role.
✨Tip Number 3
Stay updated on emerging financial crime risks and trends. Being knowledgeable about current issues can set you apart in discussions and demonstrate your commitment to the field.
✨Tip Number 4
Prepare to showcase your experience with SARs and AML investigations. Be ready to discuss specific cases or challenges you've faced, as this will highlight your practical knowledge and problem-solving skills relevant to the DMLRO position.
We think you need these skills to ace Deputy Money Laundering Reporting Officer (DMLRO)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in AML and financial crime compliance. Focus on your understanding of the UK regulatory framework and any specific achievements in previous roles that align with the responsibilities of a DMLRO.
Craft a Compelling Cover Letter: Write a cover letter that clearly outlines your motivation for applying to BBVA and how your skills and experiences make you a suitable candidate for the DMLRO position. Mention your familiarity with AML legislation and your ability to communicate complex issues effectively.
Highlight Relevant Qualifications: In your application, emphasise your qualifications, particularly your undergraduate degree and any additional certifications related to AML compliance. This will demonstrate your commitment to the field and your readiness for the role.
Showcase Your Communication Skills: Since excellent communication is crucial for this role, provide examples in your application of how you've successfully presented complex information to stakeholders or regulators in the past. This could be through reports, presentations, or training sessions.
How to prepare for a job interview at Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
✨Know Your Regulations
Familiarise yourself with the UK regulatory framework, especially the Money Laundering Regulations 2017 and the FCA Handbook. Be prepared to discuss how these regulations impact the role of a DMLRO and demonstrate your understanding of compliance obligations.
✨Showcase Your Experience
Highlight your previous experience in AML/financial crime compliance, particularly within FCA-regulated environments. Be ready to provide specific examples of how you've handled SARs, conducted investigations, or managed compliance queries.
✨Communicate Effectively
Demonstrate your excellent communication skills by articulating complex AML issues clearly. Practice explaining technical concepts in a way that is understandable to non-experts, as this will be crucial when presenting to senior stakeholders.
✨Stay Updated on Trends
Show your commitment to the role by discussing recent changes in AML legislation or emerging financial crime risks. This will illustrate your proactive approach and dedication to maintaining up-to-date knowledge in the field.