MLRO jobs in Paris
MLRO
As mentioned in our article "5 Essential Points for Hiring a MLRO", the Money Laundering Reporting Officer (MRLO) was always an important role, but has gained even more significance recently. The number and size of fines for anti-money laundering (AML) and financial crime compliance (FCC) breaches is increasing, and money launderers and criminals are exploiting the coronavirus pandemic to ramp up attacks on firms.
The MLRO is a senior figure who will represent your firm. This requires the FCA's 'fit and proper person' approval: CF11 under the outgoing regime, SMF17 under SMCR. This means that a good MLRO must behave in a way that is appropriate to their position.
Purpose of the role
The main focus of the MLRO role usually is to establish and effective compliance culture within a firm for fighting against money laundering, terrorist financial, and other forms of financial crime. Because of the role's high importance, a MLRO must build strong relationships with key stakeholders, senior management and a company's board to ensure they are fully aware of all anti-money laundering matters.
Key Requirements
The MLRO's knowledge must include the technical side of reporting and record-keeping requirements like Financial Conduct Authority (FCA) suspicious transaction and order reports (STORs) and National Crime Agency suspicious activity reports (SARs).
A new MLRO needs sufficient experience to overhaul protocols and procedures to reduce the risk of breaches and avoid fines.
They must also know how to manage a team. That includes knowing how to delegate and how to develop talented subordinates.
Money launderers are always seeking new channels to exploit. An MLRO must not just know launderers’ latest methods, but have a keen sense of what might be a new ruse. That said, they must be pragmatic and keep a sense of proportion. They should not immediately ‘red flag’ every little thing.
Usual Responsibilities
Comply at all times with the Statements and Code of Practice for Approved Persons
Implement Anti-Money Laundering and counter-terrorist financing policies aligned with evolving regulatory obligations
Oversee all aspects of Financial Crime related regulation, policies, procedures and controls
Daily management of all financial crime prevention efforts. This implies providing updates, escalating issues and highlighting areas of interest to key stakeholders
Establish and maintain appropriate risk-based monitoring processes
Oversight of AML/KYC and CDD policies and procedures . Review client files to assess whether they are in line with regulatory requirements
Provide support, guidance and training for team members to enhance their knowledge financial crime related matters
Manage and mentor AML teams
Keep up to date with statutory and regulatory developments in AML.
Take charge of anti-money laundering training to ensure everyone in the firm receives appropriate training which meets regulatory requirements
Latest jobs in Financial Crime
-
about 6 hours ago
1-3 PQE US Capital Markets (ECM/DCM) ...
London
Our client, A prominent US law firm is seeking a highly motivated Capital Markets Associate with 1-3 years' PQE to join their thriving ...
-
about 7 hours ago
Real Estate Finance Associate - Leadi...
London
Join a growing Real Estate Finance practice in a top-tier US law firm's London office Work with high-profile financial sponsors and len...
-
about 7 hours ago
Corporate Associate - Private M&A
London
Our ClientOur client, a leading US law firm, is looking for a 2-5 PQE Corporate Associate to join its prestigious London office. This ro...
-
about 7 hours ago
Associate - Leveraged Finance (4-5PQE...
London
Our ClientOur client's Leveraged Finance team is a globally recognised leader, handling some of the most high-value, complex, and sensit...
-
about 7 hours ago
Associate - Leveraged Finance (3-6PQE...
London
Our ClientAn elite US law firm with an expanding leveraged finance practice that advises high profile clients on a wide range of US...
-
about 7 hours ago
BSA Officer
Miami
$160,000 to $200,000
About the jobRutherford has been retained on a senior financial crime search for a global digital assets firm. This role will lead th...
-
about 7 hours ago
Corporate Insurance - Senior Associat...
London
Our ClientA prominent law firm, is seeking a talented Corporate Insurance Senior Associate to join their market-leading team in London. ...
-
about 7 hours ago
Elite US Law - Corporate Finance Asso...
London
Our ClientAn elite US law firm based in London, is seeking a Corporate Finance Lawyer to join their dynamic team. Position Overview ...
-
about 7 hours ago
Associate - Private Equity, Elite US ...
London
Our ClientA top-ranked US law firm, with a careful approach to lateral hires, ensuring they foster a balanced, diverse and friendly cul...
-
about 8 hours ago
Funds Associate - Elite US Law Firm (...
London
Our ClientA highly prestigious US law firm is looking to appoint an Associate to join their high-quality mentors and peers, in a busy ...