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Head of Compliance and MLRO

  • Location

    London

  • Discipline:

    Compliance

  • Job type:

    Permanent

  • Salary:

    £65,000 - £70,000

  • Consultant:

    Kirstie Burn

  • Email:

    kburn@merje.com

  • Job ref:

    JF/14754

  • Published:

    7 days ago

International Payment Services Business based in Central London;

Specific Duties;

  • Work within the Global Compliance and Risk department to develop overall global department goals and initiatives
  • Provide leadership and guidance to a group of managers and staff at various levels in the functional unit in delivering and/or effectively supporting compliance and risk programs, processes, policies and procedures as well as accomplishing compliance goals and strategies
  • Own the Money Laundering Reporting Officer (MLRO) role, responsibilities and accountabilities set out in the Compliance Policy
  • Develop, implement and enforce policies, procedures, and compliance training programs to minimise potential risk and to comply with applicable regulations, using a risk based approach 
  • Build and manage relationships with regulators including banks, financial institutions, and law enforcement
  • Manage our local FCA license and banking facility from a compliance view whilst developing and maintaining effective interaction with Financial Conduct Authority (FCA), other regulatory bodies and Legal advisors as appropriate
  • Work closely with the local MD to develop European licensing and regulation and manage application process and procedure for European E-Money Licensing
  • Address and resolve complex problems and critical issues escalated from the team
  • Foster a common vision and provide clear direction and common priorities for the Anti-Money Laundering Compliance (AML) program both within and outside the department
  • Provide research, analytics and reporting to senior management and participate in various governance forums and incorporate feedback into process; create a risk based escalation and tracking process
  • Compile risk analytics data from a variety of sources needed to identify trending and root cause analysis on key risk indicators of AML risk
  • Develop and maintain policies, procedures and other program documents such as product level risk assessments or AML control documents for the overall Compliance Program
  • Conduct Customer Due Diligence (e.g., KYC) checks and approval during on-boarding which is in line with Compliance Policy
  • Advisory and Executory (UK/Europe Specific)
  • Refer to the Group Compliance Policy and manage local policies and procedures to comply with local UK and European applicable laws
  • Assist line management and the Board in their responsibility for complying with all applicable laws.
  • Provide guidance on regulatory expectations for the sale of products
  • Comply with group legal and IT Security policies
  • Budget for legal and compliance services
  • Appropriate authority over relevant staff

Qualifications;

  • Bachelor Degree from an accredited University
  • 5 plus years work experience with an FCA regulated company in a compliance function.
  • MLRO experience as a CF11 role holder
  • Relevant experience in payments or financial services, working with UK/Global AML laws, and related laws/regulations, especially as they apply to electronic commerce and online money transfers globally
  • Knowledge of AML and Compliance regulations within the payments/banking/financial services industry
  • Understanding of retail/commercial financial products/services, payments industry, etc.
  • Proven track record of complex problem solving and decision-making ability
  • Extensive experience working in a global environment and demonstrating cultural awareness and sensitivity
  • Strong analytical skills
  • Effective leader and team player, self-starter
  • Effective communicator, orally and in writing