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- Tasks: Lead the bank's AML framework and ensure compliance with regulations.
- Company: Join a prestigious international banking organization in London.
- Benefits: Enjoy a dynamic work environment with opportunities for professional growth.
- Why this job: Make a real impact in financial crime prevention while shaping banking integrity.
- Qualifications: Extensive experience in financial crime management and strong regulatory knowledge required.
- Other info: Be part of the Executive Risk Committee and influence strategic decisions.
The predicted salary is between 43200 - 72000 £ per year.
Are you an experienced compliance professional passionate about financial crime prevention? On behalf of this international banking organisation in London, Magnus Partners is seeking a dedicated Money Laundering Reporting Officer (MLRO).
As MLRO, you will play a pivotal role in ensuring that this UK branch remains compliant with all Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations while safeguarding the integrity of their banking operations.
Key Responsibilities:
- Lead and oversee the Bank's AML and financial crime prevention framework, ensuring robust policies, procedures, and controls are in place.
- Fulfil the statutory duties of the SMF 17 function, ensuring the Bank's compliance with all regulatory requirements.
- Act as the main point of contact with regulatory bodies, including the National Crime Agency (NCA), managing all Suspicious Activity Reports (SARs) and related communications.
- Conduct comprehensive annual risk assessments and maintain an effective monitoring program for unusual transactions.
- Drive the continuous improvement of the Bank’s AML/CTF policies, aligning them with evolving regulatory standards.
- Ensure all staff are effectively trained on AML/CTF compliance, keeping them up-to-date with the latest regulatory developments.
- Prepare and present the MLRO annual report to senior management, providing strategic insights on financial crime risks.
- Be an active member of the Executive Risk Committee, contributing to strategic decision-making processes.
Key Qualifications:
- Extensive experience in a financial crime senior management position within financial services, with proven experience including acting as a Money Laundering Reporting Officer/SMF17 for an FCA regulated firm.
- Strong knowledge of UK financial regulations, including the Banking: Conduct of Business Sourcebook, Consumer Duty, and the UK Corporate Governance Code.
- Proven experience in managing relationships with regulatory bodies (e.g., FCA, PRA, NCA).
- Excellent communication and presentation skills, with the ability to influence stakeholders at all levels.
- Demonstrated expertise in transaction monitoring, sanctions screening, and KYC reviews.
Money Laundering Reporting Officer (MLRO) employer: Magnus Partners
Contact Detail:
Magnus Partners Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Money Laundering Reporting Officer (MLRO)
✨Tip Number 1
Make sure to stay updated on the latest AML and CTF regulations. This will not only help you in interviews but also demonstrate your commitment to compliance and financial crime prevention.
✨Tip Number 2
Network with professionals in the financial services sector, especially those who work in compliance roles. Engaging with industry peers can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed relationships with regulatory bodies in the past. Highlighting your experience with SARs and compliance will set you apart.
✨Tip Number 4
Familiarize yourself with the Bank's existing AML/CTF policies and be ready to suggest improvements based on your knowledge and experience. Showing initiative can impress interviewers.
We think you need these skills to ace Money Laundering Reporting Officer (MLRO)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your extensive experience in financial crime prevention and compliance. Emphasize your previous roles as a Money Laundering Reporting Officer or in senior management positions within financial services.
Craft a Strong Cover Letter: In your cover letter, express your passion for financial crime prevention and detail how your skills align with the key responsibilities of the MLRO role. Mention specific experiences that demonstrate your ability to manage relationships with regulatory bodies.
Highlight Relevant Qualifications: Clearly outline your qualifications related to UK financial regulations, such as the Banking: Conduct of Business Sourcebook and the UK Corporate Governance Code. This will show your understanding of the regulatory landscape.
Prepare for Interviews: If invited for an interview, be ready to discuss your approach to AML/CTF compliance and how you would drive continuous improvement in policies. Prepare examples of how you've influenced stakeholders and managed suspicious activity reports.
How to prepare for a job interview at Magnus Partners
✨Show Your Expertise in AML Regulations
Make sure to highlight your extensive knowledge of UK financial regulations, especially the Banking: Conduct of Business Sourcebook and the UK Corporate Governance Code. Be prepared to discuss how you've applied these regulations in your previous roles.
✨Demonstrate Your Leadership Skills
As an MLRO, you'll be leading the AML framework. Share examples of how you've successfully led teams or projects in the past, particularly in compliance or financial crime prevention.
✨Prepare for Regulatory Body Interactions
Since you'll be the main point of contact with regulatory bodies, think of specific instances where you've managed relationships with organizations like the FCA or NCA. Discuss how you handled Suspicious Activity Reports (SARs) and any challenges you faced.
✨Communicate Effectively
Excellent communication skills are crucial for this role. Practice articulating complex compliance concepts clearly and concisely, as you will need to present the MLRO annual report to senior management and influence stakeholders.
