Deputy Money Laundering Reporting Officer - DMLRO in London

Our Client, a bank based in the City of London, are looking to recruit a Deputy Money Laundering Reporting Officer (DMLRO). The DMLRO within the Bank supports the MLRO to provide an expert advisory and monitoring service to ensure compliance with relevant rules, regulations and codes of conduct relating to Fraud and Financial Crime (F&FC).

You will support the MLRO in the design, development and ongoing monitoring of the Bank’s Group’s Fraud and Financial Crime Risk Management arrangements ensuring these are aligned with the Bank’s Risk Appetite and applicable legal and regulatory requirements.

• Lead the design, development and ongoing review of the Bank’s F&FC Risk Management Policies and associated standards covering: Money Laundering and Countering Terrorist Financing, Sanctions, Tax Evasion, Market Abuse, Bribery & Corruption and Fraud.
• Provide regular reports and management information to the MLRO, Chief Risk Officer and Board on the Bank’s F&FC Risk profile outlining the adequacy of F&FC systems and controls.
• Support delivery of the annual MLRO report to the relevant Board Committee.
• Design and facilitate a group-wide F&FC risk assessment including an assessment of control effectiveness.
• Undertake investigations regarding potential cases of suspected fraud and financial crime as and when required.
• As subject matter expert, work closely with the first line of defence, and any agents of the bank, to review escalations (e.g. Sanctions / PEPs and Adverse media) to the MLRO and where necessary make recommendations to approve/decline in line with the Bank’s AML Policy and Risk Appetite.
• Suspicious activity report investigation, discounting and submission of suspicious activity reports to the relevant Reporting Authority on behalf of the MLRO/Nominated Officer.
• Review suspected cases of fraud raised by bank colleagues and investigate to determine if referral to law enforcement agencies such as Action Fraud, NCA or Serious Fraud Office is necessary.
• Provide oversight and challenge to the business unit/team Risk and Control Self Assessment’s to ensure fraud and financial crime risks and controls are appropriately identified and evaluated.
• Design and delivery of F&FC Training content and provision.
• Monitor and report on staff compliance with F&FC training requirements.
• Support the MLRO to maintain an effective bank-wide forum/committee for the oversight and monitoring of F&FC risk management.
• Recognised as a trusted point of contact for internal/external stakeholders (including regulators and law enforcement).
• Quality assurance sampling of F&FC activity and control testing conducted in the 1 LOD.
• Deliver thematic reviews of F&FC policies and controls to provide 2 LoD opinion on the Bank’s compliance with its policies and applicable legal and regulatory obligations.
• Monitor, assess and report on emerging legislative and regulatory developments relating to F&FC.
• Work collaboratively with other Risk & Compliance team members to provide data, insight and analytical expertise on risk management and compliance across BBB to internal and external stakeholders.

Must have 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. Educated to a degree level (or equivalent experience) is highly desirable.

• Hold a Fraud and/or Financial Crime qualification at a professional level (e.g. ICA Diploma or Certified Anti-Money Laundering Specialist).
• Experience in a risk management, compliance or a fraud/financial crime prevention role in the financial services sector.

This is a hybrid position, at least 3 days a week based in the City of London with the bank. The salary range, depending on experience, will be in the range £90K - £105K plus benefits.

Do send your CV to us in Word format along with your salary and notice period.