Deputy MLRO

  • Location

    City of London, London

  • Sector:

    Operations & Middle Office

  • Job type:


  • Salary:

    £50000 - £55000 per annum

  • Contact:

    Scott Duerden

  • Job ref:


  • Published:

    about 1 month ago

City based International Bank, are looking to recruit a Deputy MLRO/Compliance Officer, to report into the Head of Compliance who holds both controlled functions (SMF16/17)

Main responsibilities of the Deputy MLRO will include;

  • Identifying regulatory changes and assessing whether these are relevant to the Bank.
  • Carrying out compliance monitoring programme and Preparation of Summary of Regulatory Developments
  • Follow up on action points emanating from Compliance Monitoring Reviews
  • Perform quarterly Thematic reviews
  • Reporting on a regular basis on compliance matters, identified breaches and corrective action taken to Head of Compliance.
  • Horizon Scanning and mapping of regulations with relevant business and operations;
  • Assisting in the completion and submission of regulatory returns in accordance with the specified timescale
  • Performing regular testing to ensure full compliance to KYC policy, which would include all type of customers and counterparties.
  • Review and advising the bank of Financial Sanction notices by HM treasury as and when received
  • Risk Review and sign off of all High-Risk account opening files and providing observations to MLRO and Branch Head
  • Further investigations / review of adverse media and application of Enhanced Due Diligence (EDD) in the cases of high-risk customers following the risk-based approach.
  • Review of customers' transaction/ turnover parameters
  • Daily review of transaction alerts, coordination with branch for follow up, closure of alerts
  • Providing Compliance/ Regulatory advice to branch team
  • Reviewing alerts generated by SWIFT system
  • Review and update of manual / policy/ procedures of the bank in relation to Compliance Manual, Anti Bribery, Anti-Fraud, TCF, Conduct Risk
  • In the absence of Head of Compliance, act on behalf and represent Head of Compliance in various Management committees
  • Provide advice to the business and other business functions in in relation to AML matters.

To be considered for this position, ideal candidates must have the following experience & skills;

  • 3-4 years Experience in Compliance and AML role in a mid-tier Bank
  • Excellent Communication and Interpersonal skills with the ability to interact with all levels of staff and management.
  • Good Knowledge and experience within a regulatory environment, including sound understanding of the Senior Managers and Certification Regime.
  • Diploma/Certification in Compliance (ICA/CISI) will be preferred.

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