Job Title:       Head of Financial Crime & MLRO – UK

Industry:        Banking / Financial Services

Location:       United Kingdom

Salary:           Competitive Salary Package + Benefits

Job Purpose
The Head of Financial Crime/MLRO is in place to act as the focal point for all activity within the firm relating to financial crime including money laundering, terrorist financing, bribery and corruption, fraud, tax evasion and sanctions compliance.

The role holder has oversight responsibilities for the firm’s compliance with FCA rules on systems and controls against financial crime and will ensure that the bank remains compliant with the relevant legislations and regulations that apply to the Bank across the globe. The role also fulfils the requirements of the Nominated Officer as required by the Proceeds of Crime Act 2000 as the person within the firm to whom all suspicious activity reports are made.

The role is in the second line of defence (2LOD) and is responsible for oversight of the management of the financial crime regime in the Bank reviewing the necessary policies, standards and procedures to ensure they continue to be adequate and effective. The role holder is also responsible for driving forward improvements and changes needed as a result of regulatory change in the financial crime environment and escalating of management information to Senior Management and the Board.

The role holder will  also be the Designated Responsible Officer (RO) for Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) and have 2LOD oversight of Tax Evasion controls within the Bank.

Management of projects is a key part of the role liaising with Group and local IT as well as all areas of the business.

Responsibilities:

• Provide the Bank with regulatory advice and guidance in relation to Financial Crime Compliance
• Develop and deliver with the assistance of the business change plans for the improvement for the Financial Crime risk mitigation regime.
• Assist in the development and delivery of applicable policies and procedures to enable the Bank to comply with internal and external regulatory requirements, within the Bank’s overall risk appetite
• Interpret Financial Crime Compliance policies and standards.
• Advise on existing, new and proposed (applicable) Financial Crime regulations, laws and market practices.
• Manage regulatory affairs with all relevant regulatory authorities on behalf of the Bank, in particular on behalf of senior management and the board.
• Produce and deliver all required reports, returns, and satisfy all relevant internal and external regulatory requests.
• Investigate, review, escalate (as applicable) and report to appropriate authorities all potential and actual breaches of laws and regulations by the Bank, staff, customers, or other relevant parties.
• Monitor, test and assure business compliance with all applicable external regulatory and internal compliance requirements including ensuring assistance with the annual compliance monitoring plan.
• Provide staff training on financial crime compliance policies and procedures, regulatory expectations, laws, regulations and mandatory regulatory requirements including specific training for regulated staff
• Promote a compliance culture within the Bank consistent with the Bank’s strategic objectives, its vision, values and Risk Appetite and regulatory expectations.
• Where requested provide relevant support for the business, provided always that its independence is not conflicted through any such activities
• Participate in all relevant governance forums.
• Proactively build and develop strong relationships with both internal and external stakeholders based on trust, capability, and integrity
• Produce and deliver against an annual compliance plan, consistent with Group Compliance requirements, Strategic Business plans & objectives and external regulatory requirements and expectations.
• Drive key projects and programmes to either remediate identified breaches or gaps or deliver compliant outcomes for the banks to satisfy policies, strategic objectives or external regulatory requirements.
• Develop efficient and effective processes to publish and share compliance information with business and staff
• Designated Responsible Officer (RO) for FATCA for the Bank

Requirements:

• Thorough knowledge of anti-financial crime legislation and sanctions regimes affecting the Bank.
• Understanding of the structure and business to understand the financial crime risks.
• Understanding financial crime typologies and how services can be used by money launderers.
• A thorough understanding of sanctions requirements, primarily UN, EU and OFAC
• At least 5 years’ experience as an MLRO or 8 years as a deputy MLRO or having worked in compliance and financial crime for 8 years