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- Tasks: Lead risk management and compliance for a dynamic electronic money institution.
- Company: Join a forward-thinking financial services firm with a commitment to integrity.
- Benefits: Competitive salary, professional development, and the chance to shape compliance strategies.
- Why this job: Make a real impact in the fight against financial crime and ensure regulatory compliance.
- Qualifications: Extensive experience in compliance and risk management within UK financial services.
- Other info: Opportunity to work directly with the Board and influence company policies.
The predicted salary is between 72000 - 108000 £ 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 for a UK regulated electronic money institution. This senior position reports directly to the Board of Directors and maintains independence from business operations.
Key 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.
- Money Laundering Reporting Officer (MLRO): Design and document financial crime-related procedures and risk management policies.
- Money Laundering Reporting Officer (MLRO): Oversee staff AML training programs, ensuring appropriate standards, comprehensive coverage, and maintenance of training records.
- Money Laundering Reporting Officer (MLRO): Lead internal investigations and submit suspicious activity reports (SARs) to the National Crime Agency (NCA) as required.
- Money Laundering Reporting Officer (MLRO): Provide regular reports to senior management on AML systems and controls, including formal annual reporting.
- Money Laundering Reporting Officer (MLRO): Assess money laundering risks for new business activities and products.
- Money Laundering Reporting Officer (MLRO): Monitor and respond to developments in AML regulations and industry best practices.
- Money Laundering Reporting Officer (MLRO): Review and approve new high risk merchant and business applications.
- Money Laundering Reporting Officer (MLRO): Review and approve new Programme Managers (including Agents, Distributors, Outsourced Providers and BIN Sponsorship Programmes).
- Compliance: Develop and maintain the firm’s annual Compliance Monitoring Plan.
- Compliance: Support management in identifying and assessing compliance risks and opportunities.
- Compliance: Deliver comprehensive written compliance reports to the Board.
- Compliance: Provide guidance on new business initiatives, product launches, and special projects requiring regulatory authorisation.
- Compliance: Collaborate with legal experts to provide interpretation and advice on compliance requirements.
- Compliance: Lead staff education on compliance and ethics matters, serving as the primary point of contact for related queries.
- Compliance: Review and enhance compliance policies and procedures, addressing any identified gaps.
- Compliance: 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.
- Conduct Risk and Consumer Duty: Ensure alignment with FCA's Consumer Duty requirements across all business areas.
- Conduct Risk and Consumer Duty: Monitor and assess the delivery of good consumer outcomes across products and services.
- Conduct Risk and Consumer Duty: Develop and maintain conduct risk metrics and reporting frameworks.
- Conduct Risk and Consumer Duty: Lead regular assessments of product design, pricing, and value.
- Conduct Risk and Consumer Duty: Ensure clear and fair communication practices throughout the customer journey.
- Conduct Risk and Consumer Duty: Review customer complaints and feedback to identify conduct-related trends.
- Conduct Risk and Consumer Duty: Oversee conduct risk training programs for all staff.
- Conduct Risk and Consumer Duty: Provide regular reporting to the Board on conduct risk and Consumer Duty compliance.
- Conduct Risk and Consumer Duty: Support product governance processes to ensure consumer needs and objectives are met.
- Conduct Risk and Consumer Duty: Monitor vulnerable customer policies and practices.
- Conduct Risk and Consumer Duty: Ensure fair pricing strategies and regular value assessments.
- Conduct Risk and Consumer Duty: Lead periodic reviews of customer communications and marketing materials.
- Conduct Risk and Consumer Duty: Develop and maintain consumer outcome testing frameworks.
- Operational Risk: Develop and maintain the operational risk management framework.
- Operational Risk: Establish consistent risk definitions, categories, and measurement approaches across business lines.
- Operational Risk: Lead implementation of operational risk management policies and procedures.
- Operational Risk: Conduct annual reviews and updates of the Risk Management Policy.
- Operational Risk: Maintain risk registers with associated controls and metrics.
- Operational Risk: Develop standardized practices to support senior management accountability for operational risks.
- Operational Risk: Participate in industry forums to stay current with best practices.
- Operational Risk: Monitor internal loss data and conduct risk assessments.
- Operational Risk: Analyse external events to identify potential business impacts.
- Operational Risk: Provide regular risk reporting and recommendations to the Board.
- Financial Sanctions Compliance: Oversee the firm’s financial sanctions compliance program.
- Financial Sanctions Compliance: Ensure screening systems and processes are in place to identify sanctioned individuals and entities.
- Financial Sanctions Compliance: Maintain up-to-date sanctions policies and procedures aligned with UK requirements.
- Financial Sanctions Compliance: Monitor changes to UK, EU, and other relevant sanctions regimes.
- Financial Sanctions Compliance: Conduct regular testing of sanctions screening effectiveness.
- Financial Sanctions Compliance: Provide guidance on sanctions-related matters to business units.
- Financial Sanctions Compliance: Report sanctions-related incidents to relevant authorities as required.
- Financial Sanctions Compliance: Ensure adequate staff training on financial sanctions compliance.
- Financial Sanctions Compliance: Conduct risk assessments for high-risk jurisdictions and business relationships.
- Independence and Authority: Maintains complete independence from business activities.
- Independence and Authority: Reports directly to the Board of Directors.
- Independence and Authority: Submits annual reports on compliance and risk activities.
- Independence and Authority: Makes independent decisions as MLRO without internal influence.
- Independence and Authority: Maintains current knowledge through ongoing professional development.
- Independence and Authority: Access to necessary legal and regulatory guidance.
- Independence and Authority: Authority to access all company areas, documents, and records.
- Independence and Authority: Right to require information and explanations from all staff levels.
- Qualifications and Experience: Extensive experience in compliance, risk management, and AML within UK financial services.
- Qualifications and Experience: Strong knowledge of e-money/payment services regulations and FCA requirements.
- Qualifications and Experience: Professional qualifications in compliance, risk management, or related fields.
- Qualifications and Experience: Proven leadership experience in a regulated financial environment.
- Qualifications and Experience: Excellent understanding of UK financial sanctions regime.
- Qualifications and Experience: Strong analytical and problem-solving abilities.
- Qualifications and Experience: Ideally crypto knowledge.
- Qualifications and Experience: Outstanding communication and stakeholder management skills.
If you are interested please send us your CV at: info@itcamp.lv
Head of Risk and Compliance and Money Laundering Reporting Officer (MLRO) 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)
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and compliance sectors. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of AML regulations and compliance frameworks. Be ready to discuss how you would handle specific scenarios related to risk management. Show them you’re not just a candidate, but the right fit for their team!
✨Tip Number 3
Don’t forget to follow up after interviews! A quick thank-you email can go a long way in keeping you top of mind. Mention something specific from your conversation to show you were engaged and interested.
✨Tip Number 4
Apply through our website for the best chance at landing that dream job! We love seeing applications directly from motivated candidates who are eager to join our team. Plus, it shows you’re serious about working with us!
We think you need these skills to ace Head of Risk and Compliance and Money Laundering Reporting Officer (MLRO)
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 compliance, risk management, and AML, and don’t forget to mention any relevant qualifications. We want to see how your background aligns with our needs!
Showcase Your Leadership Skills: This is a senior position, so it’s crucial to demonstrate your leadership experience. Share examples of how you've led teams or projects in a regulated environment. We love seeing candidates who can inspire and guide others!
Be Clear and Concise: When writing your application, clarity is key. Use straightforward language and avoid jargon where possible. We appreciate applications that are easy to read and get straight to the point—just like we do in our work!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of applications better and ensures you don’t miss out on any important updates. Let’s make this journey together!
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 UK financial regulations, especially those related to AML and compliance. Being able to discuss specific regulations and how they apply to the role will show that you're not just familiar with the basics but are genuinely engaged with the field.
✨Demonstrate Leadership Skills
As this is a senior position, be prepared to share examples of your leadership experience in compliance and risk management. Think about times when you've led a team through a challenging situation or implemented a new policy successfully. This will highlight your capability to manage and inspire others.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving skills in real-world situations. Prepare by thinking through potential challenges you might face as MLRO and how you would address them. This shows your analytical abilities and readiness to tackle complex issues.
✨Showcase Your Communication Skills
Effective communication is key in this role, especially when reporting to the Board or training staff. Be ready to discuss how you've communicated complex compliance issues in the past. Practising clear and concise explanations will help you convey your thoughts effectively during the interview.
