Laundering and Reporting Officer; MLRO; SMFNew Holborn

Holborn, London

We’re looking for a Money Laundering Reporting Officer (MLRO, SMF
17) to oversee Octopus Money Group’s anti-money laundering (AML) and counter-terrorist financing (CFT) frameworks. We largely run a single governance approach across our businesses, so this is a single role with four approvals behind it. You will own the AML and CTF approach, decide when SARs are made and act as our point of contact with regulatory bodies on MLRO matters.

You’ll ensure compliance with all relevant regulations, lead investigations and be the expert in the room. This is a strategic and hands-on role, ideal for someone passionate about financial integrity and innovation, with a focus on UK retail customers.

Where the role sits:

• Reporting to the central Head of Risk and Compliance (SMF
  16).
• Sitting in the central second line risk and compliance team.
• Member of the Risk Committee, owning the economic crime reporting.
• Presenting the annual MLRO report to the governing body.
• Working alongside other senior management across Octopus Money Group (c.£5bn of assets and c.150k clients) and the Octopus Group.
• Working closely with other SMFs in the wider Octopus Group of companies.

Your role:

• Be our key expert on financial crime and lead the whole agenda to keep our customers safe and our team aware of emerging risks.
• Work from inside the central risk and compliance team, and alongside the first line business functions and product teams.
• Embed financial crime controls in the customer journey to ensure good customer outcomes, using AI tooling where appropriate.
• Stay up to date with regulatory developments and industry best practices.
• Be our policy and framework lead on financial crime, which includes:
• Holding the money laundering reporting function (SMF
  17) and acting as nominated officer
• Taking on further entities where appropriate, including any we acquire
• Owning a single money laundering and terrorist financing approach, with entity specific requirements where business genuinely differs
• Developing, implementing and maintaining AML/CTF policies, procedures and controls
• Deciding when a SAR or a defence against money laundering request goes to the NCA, and managing the tipping off risk that follows
• Overseeing CDD, EDD and PEP treatment across our advice, discretionary management, fund and platform journeys, including where a third party or outsourced provider carries it out
• Leading internal investigations and escalating issues early to the governing bodies
• Owning sanctions screening approach, designation matching and any reporting to OFSI
• Delivering the annual financial crime return for each entity in scope
• Owning and enhancing the BWRA
• Conducting regular risk assessments and ensuring appropriate KYC/KYB
• Provide financial crime training and guidance across the business, including to the governing functions.
• Be our point of contact for financial crime with the FCA, the NCA, the UK Financial Intelligence Unit, OFSI and our auditors.

Ideal candidates will have:

• Demonstrable SMF
  17 experience across UCITS, MPS, DFM, financial planning, wealth planning and investment platform business.
• Proven experience in a senior AML/compliance role.
• Understanding of UK AML regulations, FCA requirements and financial crime risks.
• Excellent analytical, investigative and communication skills.
• Ability to work independently and influence cross-functional and cross-group teams.
• Experience in acquisition and migration works.
• ICA or equivalent AML qualification preferred.
• Experience with systems such as North Row, Smart Search and Alloy.

What we expect from you:

• Judgement that you can defend and stakeholder influence.
• Written work that holds up against internal and external scrutiny.
• Candour with the governing bodies…