Money Laundering Reporting Officer (MLRO) – Market Leading Fintech

Our client are a market leading fintech and a uniquely positioned fast growing Digital Bank. You will be joining the bank at a time where they are aiming to scale their services globally in the next 5 years. This is a fantastic opportunity for an experienced and versatile MLRO to help in this growth phase.

The responsibilities in this role entail:

• Lead the EMI application process for the business, including leading the regulator discussions, internal documentation, policies and procedures required
• Assess and maintain compliance monitoring, surveillance, screening and onboarding processes aligned to UK standards including MLR2017, 5MLD, PSR’s (inc. PSD2) and EMR’s.
• Develop & Maintain risk management policies and risk profiles in relation to financial crime, development of new policies, and then applying those policies.
• Business ownership of the Onboarding, KYC and Transaction monitoring platforms from an AML/Compliance/Risk perspective.
• Supervision of our appropriate measures to ensure that money laundering risks are taken into account in our day-to-day operation, including in relation to the development of new products; the taking-on of new customers; and changes in our business.
• Building, and taking accountability for, the AML/CTF risk management program and the undertaking of any AML/CTF risk assessments. You would also input significantly, in building and managing a high-calibre compliance team, as and when required (as well as management input with a small base of junior company employees).
• Proactively identifying situations that may pose significant compliance risk and guides management in the development/reviewing/updating of relevant policies, procedures and business practices.
• Driving the application of the Driving a compliance review of new regulatory developments and maintaining oversight of developments impacting business activities.
• Preparing reports to senior management, the Board and escalating any key or high risk compliance issues within our existing governance structure. Working with the FCA, NCA, or any other governing bodies and / or suppliers, regarding any compliance-related matters.
• Hands-on and working cross-functionally across individuals and teams to ensure execution against regulatory requirements and internal policies.
• Ensure any flags raised on the transaction monitoring and KYC platforms, along with customer complaints, fraud claims, etc are handled in a timely manner.
• Collaborating with internal teams to identify clear steps necessary to mitigate any regulatory risks and provide recommendations in the form of clear business requirements.
• With time, we expect good management skills of the CBS platform, KYC platform, Transaction Monitoring platform and any other platforms the company may require to use to operate effectively.
• Partnering with the Product team to educate and drive the appropriate execution of compliance requirements. This role is critical, and you will need to also input into legal matters, so as to make sure all contracts are compliant to internal frameworks, policies, procedures, and standards.
• Being dynamic, proactive rather than reactive, and understanding of how to work in a startup environment.

We are seeking:

• An experienced MLRO or Compliance Officer from Payments Service or a Fintech firm.
• Have had experience in leading and delivering the Electronic Money Institution (EMI) licensing process.
• Experience in working with challenging regulators and creating policies around risk management, Financial Crime and AML.
• Hold knowledge of E-Money and the regulations including MLR2017, 5MLD, PSR’s (inc. PSD2) and EMR’s.
• Islamic banking knowledge would be a bonus.