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- Tasks: Lead risk management and compliance efforts, ensuring adherence to regulations and overseeing AML duties.
- Company: Join a leading financial services firm committed to integrity and excellence.
- Benefits: Attractive salary, professional development opportunities, and a supportive work environment.
- Other info: Opportunity for career growth in a dynamic and regulated environment.
- Why this job: Make a significant impact in the financial sector while ensuring compliance and managing risks.
- Qualifications: Extensive experience in compliance, risk management, and AML within UK financial services.
The predicted salary is between 80000 - 100000 £ per year.
The Head of Risk, Compliance and MLRO is responsible for overseeing the company's risk management framework, ensuring regulatory compliance, and fulfilling statutory MLRO duties. The role includes the following responsibilities:
- Money Laundering Reporting Officer (MLRO)
- Develop and maintain the firm's Financial Crime Risk Assessment (‘FCRA’), considering customer profiles, products, distribution channels, transaction complexity, and operating environment.
- Design and document financial crime-related procedures and risk management policies.
- Oversee staff AML training programs, ensuring appropriate standards, comprehensive coverage, and maintenance of training records.
- Provide regular reports to senior management on AML systems and controls, including formal annual reporting.
- Assess money laundering risks for new business activities and products.
- Monitor and respond to developments in AML regulations and industry best practices.
- Review and approve new high-risk merchant and business applications.
- Compliance
- Develop and maintain the firm's annual Compliance Monitoring Plan.
- Support management in identifying and assessing compliance risks and opportunities.
- Deliver comprehensive written compliance reports to the Board.
- Provide guidance on new business initiatives, product launches, and special projects requiring regulatory authorisation.
- Collaborate with legal experts to provide interpretation and advice on compliance requirements.
- Lead staff education on compliance and ethics matters, serving as the primary point of contact for related queries.
- Review and enhance compliance policies and procedures, addressing any identified gaps.
- Conduct regular compliance monitoring through testing, spot checks, and investigations of compliance incidents.
- Conduct Risk and Consumer Duty
- Oversee the implementation and maintenance of the firm's conduct risk framework.
- Ensure alignment with FCA's Consumer Duty requirements across all business areas.
- Develop and maintain conduct risk metrics and reporting frameworks.
- Review customer complaints and feedback to identify conduct-related trends.
- Oversee conduct risk training programs for all staff.
- Provide regular reporting to the Board on conduct risk and Consumer Duty compliance.
- Monitor vulnerable customer policies and practices.
- Develop and maintain consumer outcome testing frameworks.
- Operational Risk
- Develop and maintain the operational risk management framework.
- Establish consistent risk definitions, categories, and measurement approaches across business lines.
- Lead implementation of operational risk management policies and procedures.
- Conduct annual reviews and updates of the Risk Management Policy.
- Maintain risk registers with associated controls and metrics.
- Develop standardized practices to support senior management accountability for operational risks.
- Monitor internal loss data and conduct risk assessments.
- Analyse external events to identify potential business impacts.
- Provide regular risk reporting and recommendations to the Board.
- Financial Sanctions Compliance
- Oversee the firm's financial sanctions compliance program.
- Maintain up-to-date sanctions policies and procedures aligned with UK requirements.
- Conduct regular testing of sanctions screening effectiveness.
- Provide guidance on sanctions-related matters to business units.
- Ensure adequate staff training on financial sanctions compliance.
- Conduct risk assessments for high-risk jurisdictions and business relationships.
Maintains complete independence from business activities, submits annual reports on compliance and risk activities, and maintains current knowledge through ongoing professional development. Requires access to necessary legal and regulatory guidance, extensive experience in compliance, risk management, and AML within UK financial services, professional qualifications in compliance, risk management, or related fields, proven leadership experience in a regulated financial environment, and an excellent understanding of the UK financial sanctions regime.
Head of Risk and Compliance and Money Laundering Reporting Officer (MLRO) in City of London employer: IT Camp | FinTech Recruitment & HR Consulting
Contact Detail:
IT Camp | FinTech Recruitment & HR Consulting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Risk and Compliance and Money Laundering Reporting Officer (MLRO) in City of London
✨Tip Number 1
Network like a pro! Reach out to industry professionals on LinkedIn or attend relevant events. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. We recommend practising common interview questions and tailoring your answers to highlight your experience in risk management and compliance. Show them you’re the perfect fit!
✨Tip Number 3
Follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm for the role and keeps you fresh in their minds. We suggest mentioning something specific from the interview to make it personal.
✨Tip Number 4
Don’t forget to apply through our website! We’ve got loads of opportunities waiting for you. Plus, applying directly can sometimes give you an edge over other candidates. Let’s get you that Head of Risk and Compliance role!
We think you need these skills to ace Head of Risk and Compliance and Money Laundering Reporting Officer (MLRO) in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Head of Risk and Compliance role. Highlight your experience in risk management, compliance, and AML specifically, as these are key areas for us. Use keywords from the job description to show you’re a perfect fit!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Share your passion for compliance and risk management, and explain how your background aligns with our needs. Don’t forget to mention any relevant qualifications or experiences that make you stand out.
Showcase Your Leadership Skills: As we’re looking for someone with proven leadership experience, be sure to highlight any past roles where you’ve led teams or projects. Discuss how you’ve influenced compliance culture or improved risk management processes in previous positions.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re proactive and keen to join our team!
How to prepare for a job interview at IT Camp | FinTech Recruitment & HR Consulting
✨Know Your Regulations
Make sure you brush up on the latest AML regulations and compliance standards. Being able to discuss recent changes or trends in the industry will show that you're not just knowledgeable but also proactive about staying informed.
✨Demonstrate Leadership Skills
As a Head of Risk and Compliance, you'll need to showcase your leadership abilities. Prepare examples of how you've led teams in the past, particularly in training or implementing compliance measures. This will help illustrate your capability to guide others in a regulated environment.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving skills in risk management. Think of specific situations where you've had to make tough decisions regarding compliance or risk, and be ready to explain your thought process and outcomes.
✨Showcase Your Analytical Skills
Highlight your ability to analyse data and trends related to financial crime and operational risks. Be prepared to discuss how you've used metrics to inform decisions or improve processes in previous roles, as this is crucial for the position.