Deputy MLRO - Fraud Prevention (Retail Banking)

Up to £95,000 plus excellent bonus and benefits

Due to exciting growth and an increase in business needs, a fantastic opportunity has arisen to join an International Banking group in the heart of London as they seek a Deputy MLRO to join their Financial Crime Department. You will be responsible for overseeing the financial crime prevention framework, ensuring that the bank is compliant and protected from risk and loss from financial crime at all times. You will be the SME for financial crime compliance, and will be providing second line support to first line within the bank. Candidates must have familiarity with FCA and PSR regulations. DO NOT MISS OUT on this fantastic opportunity and APPLY TODAY

Duties of the DMLRO to include:

• Manage the implementation and enhancement of the bank’s Financial Crime and Compliance operations. This will involve regular liaison and networking with key stakeholders to maintain business relationship.

Regulatory Compliance:

• Act as Fraud Officer for fraud prevention, investigation, analysis, and recommendation.
• Establish and maintain adequate systems and controls.
• Support the MLRO in ensuring an effective financial crime governance framework.
• Identify, assess, monitor, and mitigate financial crime risks.
• Meet regulatory requirements set by the FCA and adopt best practices.

Policies, Procedures, and Best Practices:

• Update and assess the effectiveness of financial crime policies and procedures.
• Support the MLRO in evaluating and implementing relevant financial crime policies.
• Draft and revise financial crime policies and procedures.
• Implement and embed appropriate controls to ensure adherence to policies.
• Monitor adherence to financial crime policies and procedures.

Risk Assessment:

• Prepare risk assessments of financial crime categories relevant to the bank.
• Prepare gap analyses of regulatory publications.
• Risk assess business activities by identifying inherent risks and assessing controls.

Customer Due Diligence (CDD)/Know Your Customer (KYC)/Know Your Business (KYB):

• Provide oversight and advice for CDD, KYC, and KYB information.
• Ensure adequate information is gathered using a risk-based approach.
• Conduct a program of KYC/KYB sampling to maintain compliance.

Challenge and Process Improvements:

• Challenge existing processes to improve quality or efficiency.
• Recommend and implement digitalization enhancements in financial crime control.

General Compliance:

• Comply with all applicable regulations, rules, codes, guidelines, and standards.
• Adhere to established risk control guidelines, procedures, and measures.

Requirements for the successful candidate:

• Educated to University degree level or equivalent
• Excellent knowledge of regulations relating to financial crime compliance
• Previous experience working within Fraud Prevention within retail banking is essential
• Ability to complete complex and detailed tasks within tight deadlines
• Strong aptitude and confidence in communication and reporting

This vacancy is being advertised by Montpellier Resourcing Associates Limited. The services advertised by Montpellier Resourcing Associates Limited are those of an Employment Agency.