Head of Compliance / MLRO - Payments/Banking Company - London (Hybrid) - 6-month contract - £120k to £140k
An award-winning Payments Company is looking for someone to join the Compliance & Fraud department, in the capacity of Head of Compliance. This is a 6-month contract where the person will be responsible for the compliance function for the company, managing an expert and tight-knit team of financial crime and compliance professionals. Reporting to the CEO, this is a wide-ranging and important role requires a flexible and collaborative approach, training and supporting other team members.
This role is a maintenace one, and one to nurture and develop the DMLRO, to take over at the end of the contract. They have a very robust compliance position, have minimal contact with the FCA, and all their reports, policies and procedures are up to date. This is not an opportunity for someone who wants to change merchant or disaster recovery or who expects to be dealing with the FCA a lot. This position needs someone who is a very hands on MLRO, who is confident, a good leader and an agile thinker
SALARY ETC:
- £120k to £140k + benefits
- City of London
- 6-month, full-time contract
- Start: ASAP
- Hybrid working
REQUIREMENTS:
- Minimum 5 years' experience as MLRO/Head of Compliance in an EMI/PI.
- Exceptional understanding of the MLR's 2017 and JMLSG requirements of EMI's.
- Sound understanding of Fraud typologies and transaction monitoring solutions.
- Good understanding of the EMD 2011, PSR's 2017 and FCA Handbook. (FSMA 2000 and MiFiD II)
- Experience of external audit requirements & managing Compliance Frameworks - EMD and FSMA.
- Previous responsibility for the development and implementation of an effective AML framework.
- Experienced in the effective management of financial crime teams and DMLRO.
- Experienced in Risk Management and effective risk assessments against the risk of Financial Crime. Experience in conducting Internal Audits
- Previously responsibility for briefing and reporting to Boards.
- Previous experience of SMF16 compliance oversight and SMF17 MLRO.
JOB ROLE:
- To develop and maintain the firm's money laundering risk profile in accordance with changing regulations and risk appetite: the MLRO will have to consider the firm's customer, product and activity base, distribution channels, complexity and volume of transactions, processes and systems and operating environment.
- Represent the firm to all external agencies including regulators, law enforcement, external compliance consultants or any other third party in relation to money laundering and CTF investigation and prevention.
- Investigate all suspicious activities in a timely manner and report to the relevant law enforcement agency when required.
- Provide advice on special projects, including the launch of new products and services.
- Assess the appropriateness of the company's compliance related policies and procedures, promptly follow up any identified deficiencies and, where necessary, formulate proposal for amendments and communicate effectively.
- To develop the compliance, AML and other regulatory training requirements of the business, being responsible for the delivery of the same.
- To liaise with regulators where needed on both a technical and legislative level.
- To create, implement and communicate a robust, customer focused compliance monitoring plan supporting a culture where the role of compliance in the business is understood and appreciated.
- Effectively manage the compliance team to ensure appropriate methods of financial crime prevention, AML and compliance standards are implemented
- To provide Management information at the monthly Board Meetings as well as delivering an Annual report on the firms compliance with its obligations.