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- Tasks: Lead risk management and compliance for a UK electronic money institution.
- Company: Join a dynamic financial services firm with a focus on innovation.
- Benefits: Competitive salary, professional development, and direct reporting to the Board.
- Why this job: Make a significant impact in financial crime prevention and compliance.
- Qualifications: Extensive experience in compliance, risk management, and AML required.
- Other info: Enjoy a role with independence and authority in a fast-paced environment.
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.
Head of Risk and Compliance and Money Laundering Reporting Officer (MLRO) in 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 London
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, attend relevant events, and don’t be shy about letting people know you’re on the hunt for a Head of Risk and Compliance role. You never know who might have the inside scoop on an opportunity!
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of AML regulations and compliance frameworks. We recommend creating a cheat sheet of key points and examples from your past experience that showcase your expertise. This will help you stand out when discussing your qualifications.
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Use our website to find roles that excite you and match your skills. Tailor your approach to each company to show them why you’re the perfect fit!
✨Tip Number 4
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 remind them of your fit for the Head of Risk and Compliance position.
We think you need these skills to ace Head of Risk and Compliance and Money Laundering Reporting Officer (MLRO) in London
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the Head of Risk and Compliance role. Highlight your experience in compliance, risk management, and AML, and show how it aligns with our needs at StudySmarter.
Showcase Your Skills: Don’t just list your qualifications; demonstrate how your skills can benefit us. Use specific examples from your past roles that relate to the responsibilities mentioned in the job description.
Be Clear and Concise: Keep your application straightforward and to the point. We appreciate clarity, so avoid jargon and ensure your key points stand out. This will help us see your potential quickly!
Apply Through Our Website: We encourage you to submit your application through our website. It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it’s super easy!
How to prepare for a job interview at IT Camp | FinTech Recruitment & HR Consulting
✨Know Your Regulations
Make sure you’re up to speed with the latest AML regulations and compliance requirements. Brush up on the Financial Crime Risk Assessment (FCRA) and be ready to discuss how you would develop and maintain it in your role.
✨Showcase Your Leadership Skills
As a senior position, they’ll want to see your leadership capabilities. Prepare examples of how you've led teams in compliance training or managed internal investigations. Highlight your experience in reporting to senior management and how you’ve influenced decision-making.
✨Demonstrate Analytical Thinking
Be prepared to discuss how you assess money laundering risks and develop risk management policies. They might ask for specific examples of how you’ve identified risks in previous roles, so have those stories ready to share.
✨Engage with Conduct Risk
Understand the importance of conduct risk and consumer duty in this role. Be ready to talk about how you would ensure good consumer outcomes and align with FCA requirements. Discuss any experience you have in monitoring customer feedback and implementing changes based on that.
