Job Description

Key Responsibilities:

Regulatory Compliance:

Oversee the EMI’s compliance with local and international AML/CTF regulations, including the UK Money Laundering Regulations and the Proceeds of Crime Act.

Stay updated on legislative changes and best practices in AML/CTF compliance and adapt company policies accordingly.

Risk Assessment:

Conduct thorough risk assessments to identify vulnerabilities in the institution's operations and customer base.

Evaluate the effectiveness of the AML controls in place and develop strategies to strengthen the AML framework.

Monitoring and Reporting:

Review customer transactions for suspicious activity and ensure timely reporting (SAR) to the National Crime Agency (NCA) as required.

Maintain detailed records of transaction monitoring and reporting activities, ensuring they are up to date and accessible.

Policy Development:

Develop, implement, and review AML/CTF policies and procedures to ensure compliance with the law and best practices.

Ensure that policies encompass customer due diligence (CDD) measures and enhanced due diligence (EDD) protocols for high-risk customers.

Training and Awareness:

Create and deliver training programs for employees to ensure they are aware of AML obligations and their role in the compliance framework.

Foster an organizational culture that emphasizes compliance and ethical behavior.

Liaison and Coordination:

Act as the primary point of contact for regulatory authorities and law enforcement on AML matters.

Collaborate with the senior management team to promote compliance and inform them of any emerging risks or issues.

Internal Audits and Investigations:

Participate in internal audits related to AML processes and lead investigations into suspected money laundering activities.

Develop action plans to address any deficiencies identified during audits or investigations.

Collaboration:

Work closely with other departments, including Risk Management and Operations, to ensure a cohesive approach to compliance within business processes.

Qualifications:

Education:

A degree in Finance, Business, Law, or a related field is preferred.

Professional certifications such as ACAMS (Association of Certified Anti-Money Laundering Specialists) or ICA (International Compliance Association) are highly desirable.

Experience:

A minimum of 5 years of experience in AML compliance or financial crime prevention, ideally within an EMI, bank, or similar financial institution.

Previous experience in a MLRO role is advantageous.

Skills:

In-depth knowledge of UK AML/CTF regulations and industry best practices.

Strong analytical skills to assess and interpret data related to potential risks and suspicious activities.

Excellent communication skills with the ability to liaise with senior management, staff, and regulatory bodies effectively.

Personal Attributes:

High level of integrity and a strong ethical framework.

Detail-oriented and proactive in identifying risks and implementing solutions.

Ability to work independently and manage multiple tasks effectively.

Working Conditions:

The role may require occasional overtime and the ability to work in a high-pressure environment, particularly during compliance reviews or investigations