Head of Compliance and MLRO – Private Banking

Head of Compliance and MLRO – Private Banking

London, England, United Kingdom

Salary: £160,000.00-£190,000.00

Seniority level

Director

Employment type

Full-time

Job function

Finance

THE RESPONSIBILITIES:

• Act as SMF16 (Compliance Oversight) and SMF17 (MLRO) under the FCA Senior Managers Regime.
• Lead engagement with UK regulators and law enforcement.
• Maintain governance structures, SMCR obligations including Statement of Responsibilities, and Management Responsibilities Map.
• Ensure readiness for audits, reviews, and regulatory inspections.
• Develop and maintain a UK Shariah-compliant compliance framework, policies, and monitoring plans.
• Conduct assurance reviews and risk assessments, report regularly to Board and Senior Management.
• Oversee Certification Regime and fitness & propriety assessments.
• Maintain AML and financial crime frameworks, including policies and controls.
• Review suspicious activity reports (SARs) and submit to NCA where appropriate.
• Provide guidance and advice on AML, CTF, sanctions, fraud, and anti-bribery.
• Ensure compliance with UK legislation (POCA, MLR, sanctions, anti-bribery).
• Act as UK liaison for Group compliance and financial crime management.
• Ensure consistency of compliance and financial crime frameworks across both the UK and Group entities.
• Align frameworks and contribute to Group policy development and reporting.
• Prepare compliance and financial crime reports for Board and internal committees.
• Maintain registers, policies, and MI dashboards for oversight.
• Oversee the preparation, accuracy, and timely submission of all regulatory returns and reports to relevant authorities, ensuring compliance with applicable laws, regulations, and internal governance standards.
• Implement compliance and conduct training; promote strong compliance culture, aligning to the conduct rules and embedding the code of conduct.
• Ensure understanding of and adherence to FCA Conduct Rules across the bank.
• Review and update policies in line with regulatory and business changes.
• Support audits and regulatory reviews, ensuring timely closure of findings.

EXPERIENCE REQUIRED:

• Significant experience in UK Banking/financial services compliance (10+ years). Ideally Private banking/wealth management or foreign banking background.
• Experience in a small to medium-size foreign bank would be advantageous.
• Experience dealing directly with the FCA and PRA.
• Experience in a dual‑function SMF role or a senior role under SM&CR.
• Experience working in a Group environment is desirable, with shared oversight across multiple jurisdictions (preferably including the Middle East).

For further information, please contact Hannah Tabatabai.