Our client, a prestigious International Bank located in the heart of the City is looking to recruit a Deputy Head of Compliance & MLRO to join their expanding London office. This is a brand new position/headcount for the bank, so a fantastic opportunity for the incumbent to make the position their own. Main responsibilities will include;

• Work with other members of Senior Management to identify, measure and manage Compliance Risk to ensure that the bank behaves ethically and consistently in full compliance with relevant laws and regulatory requirements and that the Bank's policies and procedures are being adhered to.
• Responsible as Money Laundering Reporting Officer (MLRO) for implementation of policies and procedures to mitigate Anti - Money Laundering (AML) Risks.
• Responsible for developing and maintaining a programme designed to mitigate financial crime.
• Establish appropriate Systems and Controls to ensure effective oversight and monitoring of compliance with all relevant laws and regulations across the bank
• Clearly define and perform compliance duties as part of the bank's three lines of defence model
• Keep updated on regulatory developments and ensure that all rule changes relating to Compliance Oversight and Money Laundering Functions which affect the bank are drawn to Management and Staff's attention for implementation.
• Ensure relevant policies and procedures are in place to mitigate all compliance and regulatory risks facing the bank
• Ensure policy ownership and frequency of review is clearly defined and enforced
• Develop appropriate MI to monitor and report Treating Customer Fairly (TCF) and Conduct Risks across the bank in compliance with regulatory requirements and to avoid reputational damage
• Establish and embed a robust Risk-Based Compliance Monitoring Programme (CMP) that provides the Management and Board with assurance that all compliance and regulatory risks are being satisfactorily mitigated.
• Undertake a regular review of regulatory rules ensuring there are no gaps in CMP and internal policies and procedures; driving timely update of CMP, policies and procedures as required.
• Implement a structured account opening checklist to include all the required steps necessary to achieve an acceptable standard of KYC compliance.
• Perform independent quality assurance checks on customer files on a regular basis to give Management ongoing assurance on KYC compliance
• Ensure an up to date AML Policy document is in place and all relevant staff are duly aware and trained on fulfilling requirements
• Make sure that a process is in operation to classify customers into high, medium and low profile groups against their characteristics. Establish appropriate thresholds for transaction monitoring for each group and additional thresholds for volume controls.
• Develop and roll out AML policies and procedures in compliance with statutory and regulatory obligations and as advised by enforcement agencies
• Robust monitoring of all areas of the bank's operations to ensure compliance with AML policies, regulation and legislation. Regular reporting to Senior Management and annually to the Board.
• Undertake internal review of all suspicious transactions and disclose to National; Crime Agency (NCA) and report to law enforcement agencies as appropriate