Compliance Officer MLRO - 4 or 5 days per week

  • £80,000-100,000
  • London, England, United Kingdom
  • Permanent, Part time
  • LMA
  • 12 Nov 18

Compliance: Oversight of the Bank's compliance function, ensuring compliance by the Bank with all legal and regulatory requirements MLRO: Oversight of compliance with FCA's rules on systems and controls against money laundering and for countering the risk that the firm might be used to further financial crime


  • Compliance with all relevant regulatory authority regulation and with in-house procedures
  • Putting in place adequate measures and procedures to minimise risks and to address any deficiencies in the Bank's compliance with its obligations both legal and regulatory
  • Monitoring and, on a regular basis, assessing the adequacy of the measures and procedures put in place to enable the Bank to comply with its obligations under the legal and regulatory system


Establish and maintain effective AML systems and controls

Oversight of compliance with the FCA's rules on systems and controls against money laundering

Focal point for all activity within the Bank relating to AML



Keep up to date with, and understand, relevant laws and regulations

Update and maintain the Bank's Management Responsibilities Map in accordance with regulatory requirements

Apply for SMF approvals from PRA/FCA

Monitor compliance with laws, regulations and internal policies

Identify and assess compliance risks associated with current and future business activities including new products

Maintain compliance records

Ensure findings are recorded and followed up with management so that issues can be rectified

Educate employees on not only the regulations but also the impact to the Bank if these are not complied with

Investigate irregularities and non-compliance performance

Highlight or escalate areas of concern

Contribute to robust and effective compliance controls within the Bank

Review marketing materials, presentations and websites to ensure compliance with regulatory requirements

Assist in the gathering of internal information in response to regulatory requests

Collaborate with other departments to create a culture of compliance



Appropriate documentation of risk management policies and risk profile in relation to Money Laudering and Financial Crime, including documentation of the Bank's application of those policiesin the form of procedures.

Provision of information to the governing body and senior management, including a report to the Board at least annually on the operation and effectiveness of the relevant systems and controls

Keeping up to date with all relevant legislation and ensuring changes are incorporated within Bank policies and procedures

Appropriate measures to ensure that the money laundering risk is minimised in the day-to-day-operation, including in relation to: a) taking on of new customers; b) monitoring of existing account base; c) development of new products; d) changes in the business profile

Sourcing and provision of appropriate AML/Financial Crime training to relevant staff

Ensuring AML record keeping requirements are adhered to

Ensuring full understanding of suspicious activity reports ('SARS') amongst staff and timely submission of SARS (where appropriate) to National Crime Agency

Ensuring regular delivery of appropriate and effective AML/Financial Crime training for all relevant staff

Completion of annual report to FCA

Review all credit submissions prior to Credit Committee meeting to ensure consideration of, and adherence to all AML/Financial Crime regulations.



Candidates will have a thorough knowledge of compliance issues/ AML/financial crime risks in a) retail banking; b) correspondent banking; c) trade finance

It is likely that the candidate will already or previously have heled the SM16/17 designation