Money Laundering Reporting Officer

Our client seeks a Money Laundering Reporting Officer to join their team. Role Profile: MLROs have considerable influence and are at the heart of the Risk Strategy and governance operations because effective governance is fundamental to how the Group is directed and controlled. The role has specific responsibility for making decisions relating to disclosure of suspicions and liaising with financial crime agencies. The role exerts influence at all levels of seniority and supports the Chief Compliance Officer in ensuring that all activities undertaken comply with legal, ethical and regulatory requirements. Key Responsibilities: Proactively support the embedment of an effective Financial Crime prevention framework (to include Anti-money Laundering, Terrorist Financing and Fraud) throughout the business, to protect the Group from regulatory sanction, financial and reputational loss. Monitor changes in relevant AML/CFT legislation and the regulatory environment and taking action accordingly to ensure timely implementation. Remain aware of any relevant sanctions, prohibitions or advisory notices and where necessary support the Group's response to the implementation of control environment changes. In collaboration with business areas, develop internal procedures in line with the requirements of AML/CFT legislation and relevant industry guidance and provide MAML.CFT regulatory support for key strategic projects. Engage actively with Regulators in respect of AML/CFT matters with a view to maintaining a cordial relationship. Ensure effective AML/CFT and fraud awareness training is provided to staff worldwide in accordance with Isle of Man, and where relevant, overseas legislation. Oversee the submission of formal reports to law enforcement agencies and review and comply with any resulting production, restraint or confiscation orders issued by the Isle of Man courts. Drafting and coordinating the Annual AML/CFT Report for subsidiary companies providing an independent assessment of the effectiveness of Anti-Money Laundering and Countering the Financing of Terrorism systems and control.Regulatory and Statutory responsibilities. The role includes Controlled Function responsibilities. Act as an Approved Person undertaking Controlled Functions including MLRO (R15) and DMLRO for subsidiary companies. The key components of the role are: [1] identification; [2] prevention; [3] detection; [4] monitoring; [4] resolution; and [5] advisory. Key Skills and Experience: An in depth understanding of the risk and financial drivers of the life industry with relevant professional qualifications or extensive experience in a key role. In depth knowledge of financial crime legislation and the duties and responsibilities of a MLRO in the Isle of Man and other branch operations. Must have held a MLRO or DMLRO role for at least three to five years. Broad commercial experience and understanding of market knowledge, regulations and legislation in the financial services sector, ideally from the life and investment sectors. Track record for delivering timely and credible subject matter expertise. Committed to mentoring and developing colleagues to: [a] support succession planning; and [b] create capacity, contingency, resilience, expertise and a peer support group.
If you have the required skills please apply online at searchandselect.com quoting reference number: 15767.