MLRO

Remote based

Salary range - £70,000 - £100,000 depending on skills and experience

Our market leading client is looking for an MLRO who will be responsible to implement appropriate Risk, Compliance and Financial Crime frameworks across the business to help identify, assess, detect, monitor, and report money laundering activities to the authorities. Manage strong working relationship with external counsel and act as regulatory liaison with regulatory bodies, notably the Financial Conduct Authority (FCA) and others as applicable.

Key Responsibilities / Tasks of the MLRO:

• An MLRO’s responsibilities include receiving the appropriate access to the company’s business records to make fully informed decisions to ensure compliance with relevant U.K. money laundering laws and regulations. They should assume control for developing and maintaining AML policies and procedures to reflect changes in the regulatory environment, which includes conducting periodic reviews to determine their effectiveness.
• Establish and manage standards, and implement procedures ensuring the Compliance program is effective and efficient in identifying, preventing, detecting, and correcting non-compliance with applicable laws and regulations.
• Provide sound, risk-adjusted advice and guidance on risk and compliance matters to business lines, with an independent mindset, effectively challenging where necessary to achieve a robust second line of defence.
• Responsible to train officers, employees, and agents to recognise suspicious transactions, trends in ML/FT activities and ML/FT risk with Novalnet’s products, services and operations and establish an audit function to test its anti-money laundering and financing of terrorism procedures and systems.
• Responsible to ensure that internally generated suspicious transaction reports (STRs) are appropriately evaluated before submitted to the supervisory authority.
• Responsible for establishing and maintaining such manual of compliance procedures in relation to its business.
• Design, develop, and execute global AML and sanctions compliance programs, ensuring the implementation of appropriate controls reflect inherent risks and regulatory requirements.
• Prepare periodic compliance reporting to senior management and the Board.
• Act as the liaison between the Novalnet and the supervisory authority in matters relating to compliance and any other law or directive with respect to money laundering or financing of terrorism.
• Maintaining systems/records to demonstrate appropriate decision makings processes and monitoring/compliance with internal policies and external laws and regulations, e.g., for internal audit purposes and/or external regulatory investigations.

Essential qualifications, knowledge and experience:

• Degree holder or above in Law, Accountancy, Audit, Business or related disciplines.
• Minimum 5 years’ experience in AML/CFT/Sanctions compliance/financial crime gained in financial sector.
• Familiar with banking products and regulatory requirements in relation to AML/CFT/Sanctions and related control measures, preferably in commercial / corporate banking.
• With hands-on experience in advisory on sanctions or related, trade finance or relevant, customer due diligence and/or AML/CFT audit.
• Familiarity with UK Financial Crimes Acts; AML and Terrorist Financings Acts; Criminal Finances Act 2017; Data Protection Act 2018 (UK) and General Data Protection Regulation (GDPR).
• Relevant experience in a control or advisory function (e.g. legal, compliance, risk, internal audit).
• Exceptional analytical, research and problem-solving skills coupled with excellent written and verbal communication skills. Proven communicator with individuals at varying levels within an organization, including Senior Management.
• Proven understanding of both business objectives and regulatory environments. Exceptional experience building consensus through sound logic and reason rather than through authority.