Average Laundering Officer salary in the UK

City & Capital are currently representing a highly respected & fast growing investment house and commercial property finance lender who have retained our services to support the continued growth of their brand new in-house legal & compliance department. They are actively seeking a highly knowledgeable, focussed & experienced Deputy Money Laundering Officer (DMLRO) who will join the legal & compliance function in a key senior seat. Reporting to the MLRO you will undertake strategic financial crime objectives, whilst also supporting the KYC/AML analyst team with their activity & requirements. Our client has doubled the size of their UK loan book and business four times in the last four years. Increased investment means that they will achieve the same feat again in 2024, which will see more new & diverse borrowers and investment partners joining the firm than ever before. Due to this, this is a brand new role created within the existing compliance and legal infrastructure to support robust risk management practises & will work extremely closely with the lenders General Counsel, MLRO and Senior Credit Risk Managers as a central role within the business. This means that the successful candidate will also be highly active in terms of the origination and implementation of relevant policies and procedures that govern strong financial crime and general risk management in the areas outlined in this advert. The arriving DMLRO will also take on the Deputy NO function which will be delivered in the absence of the MLRO & NO. Please note that our client is willing to consider existing DMLRO candidates for this roles, as well as experienced financial crime specialists who may be looking to take their first step up in to this seat and where the relevant levels of experience and exposure can be demonstrated. Duties may include (but not limited to): Oversight of the AML/CTF & Sanctions compliance programmeOversee the KYC Analyst team & activity to ensure compliance for borrowers & investorsMaintaining and upgrading policies & documents in line with regulation & governanceUndertake critical transaction monitoring activity on existing clients & partnersSupport the CDD/EDD process, where requiredEnsure that all records such as PEP and High Risk customer registers are maintainedAdvising & supporting other business units on topical client based issues or queriesInvestigating and reporting suspicious activity to the NCAAssist with the creation and delivery of financial crime training for the broader businessDeputise for the MLRO & attendee financial crime & risk based committee meetingsOversee the accurate and timely delivery of business MI to agreed standards and incrementsOversight of investor and funding line portfolio management, periodical reviewsKeep up to date with changes in legislation & make recommendations for changeUndertake any duty to protect the company from failing to achieve its compliance duties As the deputy point of contact within the business, you will be expected to face out to agencies such as the FCA, NCA and any applicable law enforcement agencies, as well as liaising with appropriate sanction issuing bodies, such as HMT’s Office of Financial Sanctions Implementation (OFSI) and the US Office of Foreign Assets Control (OFAC). You will work closely with the MLRO on aspects such as financial crime strategy, policies and procedures but will also be very proactive in your daily support to other business units, particularly the sales, underwriting and loan management functions, who are the key access point for new customers, or existing customers that may require monitoring and periodical reviews. You will be happy to support applications on a 'case by case’ basis, with the able support of the KYC analyst team. The Ideal Individual will demonstrate… A minimum of 4 years AML/CTF & Sanctions experience within financial or professional servicesKnowledge of all relevant regulations that govern financial crime managementA working knowledge of business wide risk assessment & customer risk assessmentExperience in transaction and ongoing monitoringIn depth knowledge of CDD/EDD and how this applies to individuals & businessesKnowledge of the wider AML framework, FCA handbook, EU Directives etc…In depth understanding of the NCA SAR reporting regime, deemed consent etc…Strong analytical skills with an excellent attention to detailExcellent communication skills to all levels and in all formatsAccurate report writing and record keeping skillsStrong logic and problem solving skillsConfident when developing policies and procedures that govern relevant riskA team player who will work with internal & external stakeholders Our client is ideally looking to pay a basic salary of up to c£100k for the ideal individual, relevant to experience. Higher offers may be considered for exceptional experience and success in this field. Salary will be complemented by access to our clients favourable company bonus scheme that will help to boost annual income significantly too. Due to the central nature of this role internally, and the requirements to engage with a broad range of stakeholders on a daily basis, this role will be based in our clients superb Mayfair offices, Monday to Friday of each week. Due to the nature of who our client is and their reputation in the market, we do not expect this role to be available for very long. Therefore if this does look of interest and you feel suitably qualified to achieve in the role then we would welcome your application at the earliest opportunity. Our client is keen to make this appointment as soon as possible in line with growing demands and growth plans outlined. Once received we will be able to review your application and once reviewed we will get back to you. Should you be successful in your application we will then be in touch to discuss the opportunity in more detail in order to agree the way forward. We look forward to your application. Kind regards,

What the Hiring Manager SaysThe Money Laundering Reporting Officer (MLRO) role is responsible for identifying, assessing, monitoring and managing the risk of financial crime, in line with Quilter's risk appetite. This incorporates Anti-Money Laundering/Counter Terrorist Financing (AML/CTF), Anti-Bribery & Corruption (ABC), fraud prevention, sanctions and the prevention of the facilitation of tax evasion. This is a Group wide role and the MLRO will hold the SMF17 controlled function for businesses within both the Affluent and High Net Worth segments. Chief Risk Officer About the RoleLevel : Level 6 Department: Risk Location: Southampton, England | London, England Contract type: Permanent Provide expert advice and guidance to the business, acting as subject matter expert on all financial crime matters.Lead the development, implementation and maintenance of Quilter's approach to financial crime prevention, ensuring risk-based and proportionate frameworks, policies and controls are in place to deliver effective management of financial crime risks across Quilter in line with Quilter's risk appetite, and compliant with legal and regulatory requirements.Ensure that components of the framework are delivered eg regular enhanced due diligence of high risk customers and approval to maintain high risk relationships.Implement automated systems and processes to increase efficiency and data led financial crime team activity.Be responsible for oversight of compliance with financial crime rules and regulations; providing oversight over the execution performed by the business.The MLRO must be forward looking in seeking to identify financial crime risks and making proactive recommendations to mitigate/eliminate such risks, undertaking periodic and ad hoc risk assessments and gap analyses, and escalations as necessary, and with a specific focus on high risk customers and reviewing and signing off on associated enhanced due diligence.Lead investigation and submission of Suspicious Activity Reports, ensuring quality and timeliness.Lead investigation of frauds, working closely with other teams eg Data Protection.Leading team liaison with law enforcement and other authorities, acting as the primary contact point, in relation to financial crime related matters.Responding to FCA requests for information and participating in other regulatory engagements, as relevant.Ensuring the accurate and timely submission of the FCA annual Rep Crim report.Keep pace with changes in legislation, regulation and market practice. Liaise with industry bodies on compliance and regulatory developments. Lobby industry associations and provide support with regulators when necessary.Ongoing monitoring of financial crime risks and controls; designing an annual plan of BAU and thematic monitoring and following up on recommendations once reviews are completed.Provide insightful reporting to senior management and Boards on the effectiveness of the financial crime systems and controls and the Quilter annual MLRO report. May hold the MLRO Senior Manager Function controlled function or certified role for all businesses in the Affluent and High Net Worth segments. Risk Leadership This role is a member of the Group level Risk Leadership Team, supporting the One Quilter Group Risk Function" culture and approach, fostering positive relationships and providing consistent second line challenge and co-ordinating an effective second line function across the Group.This role supports the Quilter CRO in maintaining an effective second line framework for Quilter, including supporting on strategic initiatives as needed. It supports the Quilter CRO in respect of enhancing and optimising second line arrangements.Identifies and nurtures talent to ensure appropriate succession planning within the team, creating an internal pipeline of high potential employees to ensure the delivery of the function's goals and continuity.Uses in-depth knowledge and experience to support employees, promoting a culture of curiosity and continuous improvement and ensuring best practice is applied across the function.This role will lead their team to provide an effective, pragmatic, commercially focused and valued service to the business, recognised for delivering high quality advice, guidance, assessment, challenge and insight. It drives improvements to the engagement, and engagement scores of the team, including by identifying and addressing issues. Stakeholder Engagement This role constructively influences and partners with key internal stakeholders, including the Risk Leadership Team, providing incisive risk analysis and challenging on Quilter's risk profile and its management.You will robustly intervene when needed, raising and challenging on key areas of risk exposure and in requiring management to take actions to address deficiencies. Present opinions and information to the relevant governance committees/forums as required.Partners with 1st and 3rd line assurance teams to develop an effective overall 'three lines' control framework.Manages and develops relationships with industry/professional and threat intelligence bodies, providing insights, setting and managing expectations regarding services and ensuring a clear understanding of requirements. Pro-actively promotes an effective risk culture including influencing the attitude to, and understanding of, risk across the business.Provides leadership, risk oversight, challenge and advice to the business, management and governance structures. About YouApplications from people with diverse backgrounds enables our inclusive organisation to thrive. If you feel you don't match our job description exactly, why not take a chance on yourself and apply? You could be exactly what this role needs.You will have: Proven experience in either a MLRO or Deputy MLRO role within a regulated financial services firm, preferably in wealth management and/or platform business.Prior Senior Management Function or certified status is desirable.Proven experience in the design and implementation of financial crime prevention frameworks, policies and procedures in a regulated financial services firm.Experience of managing, motivating, developing and leading employees in a financial crime prevention function.Extensive SME knowledge of and the ability to interpret Financial Crime legislation. Our purpose is to help the generations today and tomorrow to prosper. That means we must guide people through t

Deputy Money Laundering Reporting Officer (DMLRO) Financial Services London We are working with a leading independent bridging finance provider based in the United Kingdom. With a strong presence in the market, specialising in offering fast and flexible bridging loans and buy-to-let mortgages to our valued intermediaries and clients. The DMLRO/DNO is responsible for assisting and where appropriate deputising for the BFLMLRO/NO in ensuring that the firm complies with all relevant and applicable anti-money laundering and counter-terrorist financing (including sanctions) legislation and regulations. The role involves: Oversight of the firm's AML/CTF & Sanctions compliance program, Maintaining policies and procedures and ensuring appropriate change and version controls are completed of such, Assisting in the creation and delivery of staff training, Overseeing the KYC Analysts in their duties to ensure compliant day to day onboarding of customers and investors (including, if necessary, where Enhanced Due Diligence is required), Advising and supporting the business as required, Receiving, investigating and where necessary reporting any suspicious activity to the National Crime Agency (NCA), Deputising for the BFLMLRO at Financial Crime Committee and/or Senior Management meetings,Assisting with the accurate production of management information (including but not limited to, weekly case load statistics, quarterly BFLMLRO reports and the Annual BFLMLRO Report),Oversight of investor and funding line portfolio management, and Assisting the BFLMLRO in any ad-hoc projects or assignments as required. Role Requirements: At least 4 years of experience in AML/CTF & Sanctions compliance, within the financial services industry.Knowledge of relevant legislation and regulationsWorking knowledge of business wide risk assessment and customer risk assessment methodology and execution.Experience in transaction monitoring and ongoing monitoring.In-depth working knowledge of CDD/EDD as it applies to individuals and corporations.