Dmlro - Hybrid Working - - London, United Kingdom - eFinancialCareers

eFinancialCareers

Verified Company

London, United Kingdom

1 week ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Main purposes:

This role works alongside and supports the MLRO in delivering delegated Senior Management responsibilities as detailed within this job description and the role holder's personal objectives.
The role provides for:

- oversight of systems and controls for Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF);
- for development and maintenance of relevant policy, risk assessment and risk based requirements;
- management reporting; and

Monitoring, investigation and signoff of higher risk client relationships and transactions.
The role holder is a point of reference and centre for expertise in matters of antimoney laundering and prevention of terrorist financing across the business.
The role holder is authorised to report suspicions of money laundering and terrorist financing, on behalf of the MLRO.

Key Job Responsibilities:

To support and review the first line's risk assessments of financial crime, including AML/CTF, tax evasion, sanctions and ABC,; and provide assurance that it has incorporated conclusions into current policies and requirements.
Provide input to Risk Based Approach (RBA) undertaken by the first line, as documented in the Prevention of Money laundering and Terrorist Financing Manual ('AML Manual').
To support the MLRO with maintaining policy and guidance on antimoney laundering, terrorist financing, bribery and corruption, sanctions and tax evasion/avoidance requirements in line with changing regulation, supervisory and approved industry guidance,emerging issues and good practice, gaining signoff from MLRO and Executive.
To lead in the design/build and implementation of a compliance monitoring programme for financial crime across the bank and any outsourced functions.
To notify the MLRO through timely reporting all incidence of noncompliance with regulation and legislation.

All breaches to also be notified to the Risk and Compliance functions.

To agree with management remediation plans for all incidence of noncompliance with policy/procedure and follow up implementation on a timely basis, escalating to Head of Department and relevant Executive as necessary.
To make practical and acceptable recommendations to management where systems and procedures are in need of enhancing to counter the risk of financial crime.
To prepare regular reports on the outputs of the monitoring programme to the MLRO and respective executive and governance committees.

Reports should summarise key issues, results, conclusions and actions taken.
Reports to be suitable for target audience.

To draft for the MLRO, an annual MLRO report.
To deputise for the Money Laundering Reporting Officer in their absence.
To review and investigate suspicious activity reports and submit reports, in the absence of the MLRO to the NCA.
Ensure independent reviews are completed for higher risk transactions and client relationships (at onboarding and periodic review) in line with policy requirements.

To escalate exceptional transactions or relationships to the MLRO.

To support the first line with advice on how to undertake investigations into suspected incidents of financial crime internally.
To undertake the regulatory reporting responsibilities of the company in respect of financial crime.
To coordinate the fulfilment of ad hoc Orders received from regulatory or law enforcement agencies in a timely manner.
To prepare and publish on a quarterly basis Country Risk Profile that assesses potential territorial exposures to money laundering and terrorist financing.

Reassess the methodology annually for appropriateness.

To undertake Horizon Scanning and ensure that the company remains up to date with relevant financial crime regulatory developments.
To keep up to date with advancements in technology and tooling for detecting and preventing and reporting on financial crime, and to inform the MLRO of such developments, and how these may benefit the company.
To advise on the development and maintenance of, financial crime procedures.
To respond promptly to requests for advice or information from senior management, the external auditors or the regulatory or law enforcement bodies.
To develop and maintain excellent working relationships with the business and risk and compliance teams.
To manage the development and delivery of financial crime training courses tomanagement and staff.

Conduct an annual assessment of training needs and a review and update of core intranet based training material.

To conduct assurance that,where services are provided on financial crime matters by a third party, that adequate management information is received from the third party, for management to have adequate assurance that financial crime controls are robust.

_Knowledge_

Maintain an understanding of the requirements of FCA/HMRC requirements and guidance relating to financial crime.
To maintain understanding and expertise in AML/CTF Regulation and guidance from JMLSG.
To maintain understanding of jurisdictional risk relating to financial crime.