IDTFS Head of Financial Crime Prevention & MLRO

Head of Financial Crime Prevention & MLRO

Department:
Compliance

Location:

Gibraltar

Job Title:

Head of Financial Crime Prevention & MLRO

Reports to:

Director of Risk & Compliance Type of position:
Full time

The Bank

A leading issuing bank, who has been transforming the future of cross border payments to serve our Clients over the past 16 years. The Bank is now embarking on a journey to expand its banking product range with the intention of offering digital corporate banking services.

The Bank has offices in London and Gibraltar, currently serving innovative Clients through a portfolio of e- money products and payment services. As a leader in the industry, we set the standard for excellence in the payments sector. We are forward thinkers in a complex ecosystem and partner with cutting-edge Fintech’s to challenge the way we conventionally bank for the better.

Investors

Our parent company, IDT Corporation, is an innovative and opportunity-seeking multinational company headquartered in the US and listed on the New York Stock Exchange, with offices across the globe.

The MLRO & Head of Financial Crime is responsible for leading the Bank’s Financial Crime function and fulfilling the statutory responsibilities of the approved Money Laundering Reporting Officer (MLRO). The role provides strategic oversight of the Bank’s anti-money laundering, counter terrorist financing, counter-proliferation financing, sanctions and fraud risk frameworks, ensuring effective systems and controls are maintained to meet legal, regulatory and internal governance requirements.
The role leads the Financial Crime Team, providing direction, oversight and subject matter expertise across the Bank’s corporate banking and payment services activities. Working closely with senior management, business functions and regulators, they will be responsible for promoting a strong financial crime compliance culture, and ensuring the Bank’s financial crime framework remains robust, proportionate and aligned with regulatory expectations.

• Regulated individual, subject to approval from the GFSC to act as the Bank’s MLRO, fulfilling all statutory responsibilities under applicable AML, CTF, CPF and Sanctions legislation, regulations and regulatory guidance.
• Oversee the investigation and escalation of unusual and suspicious activity, including receiving and determining internal suspicious activity reports, submitting external Suspicious Activity Reports (SARs) to the relevant FIU, where appropriate.
• Act as the Bank’s principal point of contact with the Financial Intelligence Unit, GFSC, law enforcement agencies and other competent authorities on matters relating to suspicious activity reporting and MLRO responsibilities.
• Prepare and submit all mandatory regulatory returns, statutory notifications and MLRO reports required by applicable legislation and regulatory requirements.
• Provide regular reports to the Board and senior management committees regarding the effectiveness of the Bank’s AML/CFT/PF framework, material financial crime risks, significant incidents, suspicious activity reporting, sanctions matters and emerging regulatory developments.
• Lead, manage and develop the Financial Crime Prevention Team, ensuring appropriate resourcing, technical capability, and continuous professional development to deliver an effective and proportionate second line Financial Crime function.
• Oversee the effectiveness of financial crime systems and controls, including transaction monitoring, sanctions screening, name screening, and customer risk scoring, ensuring appropriate testing, tuning, calibration, optimisation and periodic effectiveness reviews are undertaken.
• Own and oversee the Bank’s Financial Crime Framework, including AML, CTF, CPF, financial sanctions, fraud risk management and associated financial crime prevention controls, ensuring they remain effective, proportionate and aligned to regulatory requirements.
• Own and maintain the Bank’s Financial Crime policies, standards, procedures and supporting documentation, ensuring they remain current, reflect legislative and regulatory developments, industry best practice and the Bank’s…