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- Tasks: Join our Risk and Compliance team as an MLRO, focusing on financial crime prevention.
- Company: A leading firm in the Finance Sector, committed to growth and compliance.
- Benefits: Enjoy competitive perks, professional development, and a dynamic work environment.
- Why this job: Make a real impact in financial crime prevention while growing your career in a supportive culture.
- Qualifications: Must have 3-5 years as MLRO/DMLRO with strong knowledge of financial crime legislation.
- Other info: Opportunity to mentor colleagues and collaborate with regulators globally.
Our Client, a large Finance Sector firm, are seeking an experienced MLRO to join their Risk and Compliance team as the function grows to keep pace with wider business growth.
As MLRO you will:
- Proactively support the embedment of an effective Financial Crime prevention framework (to include Anti-money Laundering, Terrorist Financing and Fraud) throughout the business, to protect the Group from regulatory sanction, financial and reputational loss.
- Monitor changes in relevant AML/CFT legislation and the regulatory environment and taking action accordingly to ensure timely implementation.
- Remain aware of any relevant sanctions, prohibitions or advisory notices and where necessary support the Group's response to the implementation of control environment changes.
- In collaboration with business areas, develop internal procedures in line with the requirements of AML/CFT legislation and relevant industry guidance and provide AML/CFT regulatory support for key strategic projects.
- Engage actively with Regulators in respect of AML/CFT matters with a view to maintaining a cordial relationship.
- Ensure effective AML/CFT and fraud awareness training is provided to staff worldwide in accordance with Isle of Man, and where relevant, overseas legislation.
- Oversee the submission of formal reports to law enforcement agencies and review and comply with any resulting production, restraint or confiscation orders issued by the Isle of Man courts.
- Drafting and coordinating the Annual AML/CFT Report for subsidiary companies providing an independent assessment of the effectiveness of Anti-Money Laundering and Countering the Financing of Terrorism systems and control.
- Controlled Function responsibilities.
- Act as an Approved Person undertaking Controlled Functions including MLRO (R15) and DMLRO for subsidiary companies.
- The key components of the role are: [1] identification; [2] prevention; [3] detection; [4] monitoring; [5] resolution; and [6] advisory.
The ideal candidate for the role of MLRO will have:
- An in depth understanding of the risk and financial drivers of the life industry with relevant professional qualifications or extensive experience in a key role.
- In depth knowledge of financial crime legislation and the duties and responsibilities of a MLRO in the Isle of Man and wider jurisdictions.
- Must have held a MLRO or DMLRO role for at least three to five years.
- Broad commercial experience and understanding of market knowledge, regulations and legislation in the financial services sector, ideally from the life and investment sectors.
- Track record for delivering timely and credible subject matter expertise.
- Committed to mentoring and developing colleagues to support succession planning and create capacity, contingency, resilience, expertise and a peer support group leveraging other Group company MLROs, Deputies and technical specialists.
Locations
MLRO employer: CV-Library
Contact Detail:
CV-Library Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land MLRO
✨Tip Number 1
Network with professionals in the finance and compliance sectors. Attend industry events, webinars, or local meetups to connect with others who may have insights into the MLRO role and the specific requirements of the firm you're interested in.
✨Tip Number 2
Stay updated on the latest AML/CFT legislation and financial crime trends. Subscribe to relevant newsletters or follow key influencers in the field on social media to ensure you’re well-informed and can discuss current issues during interviews.
✨Tip Number 3
Prepare to demonstrate your experience in developing and implementing compliance frameworks. Think of specific examples from your past roles where you successfully managed financial crime prevention initiatives, as this will be crucial in showcasing your fit for the position.
✨Tip Number 4
Familiarise yourself with the company’s values and recent developments. Understanding their approach to risk and compliance will help you tailor your discussions and show that you are genuinely interested in contributing to their goals.
We think you need these skills to ace MLRO
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in financial crime prevention, particularly in Anti-Money Laundering and Countering the Financing of Terrorism. Use specific examples from your previous roles that demonstrate your understanding of relevant legislation and your ability to implement effective frameworks.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the MLRO position and explain how your background aligns with the responsibilities outlined in the job description. Mention your experience engaging with regulators and your commitment to mentoring colleagues, as these are key aspects of the role.
Highlight Relevant Qualifications: Ensure you list any professional qualifications related to financial crime and compliance. If you have held a MLRO or DMLRO role, make this prominent in your application to showcase your suitability for the position.
Showcase Your Industry Knowledge: Demonstrate your understanding of the financial services sector, especially in relation to the life and investment industries. Discuss any relevant market knowledge or regulatory experience that would benefit the company in your application.
How to prepare for a job interview at CV-Library
✨Know Your Legislation
Make sure you have a solid understanding of the relevant AML/CFT legislation and financial crime regulations. Be prepared to discuss how these laws impact the role and the business, as well as any recent changes you've monitored.
✨Demonstrate Your Experience
Highlight your previous experience as an MLRO or DMLRO, especially any specific achievements in implementing effective financial crime prevention frameworks. Use examples that showcase your ability to handle regulatory challenges and your proactive approach.
✨Engage with Real-World Scenarios
Be ready to discuss real-world scenarios related to financial crime prevention. This could include how you would respond to a potential money laundering case or how you would implement training for staff on AML/CFT compliance.
✨Showcase Your Mentoring Skills
Since mentoring is a key part of the role, prepare to talk about your experience in developing colleagues and building a supportive team environment. Share specific examples of how you've helped others grow in their roles.
