Head of Financial Crime & UK MLRO - CMC Markets : Job Details

We are excited to say that we are looking to hire a new Head of Financial Crime & UK Money Laundering Officer for our London office.

This role constitutes a Senior Management Role of the MLRO (SMF 17) and the holder is therefore responsible as the MLRO with the ongoing effective oversight of adequate systems and controls to ensure risks and affairs are controlled within the specific area of responsibility.

The role requires taking sufficient rigorous action in the critical assessment of and challenge to the risk management framework and governance arrangements currently in place.

Also required:

• Continuous monitoring of the effectiveness of controls around the risks facing the Group
• Conducting own reviews of the systems, controls and arrangements and forming own opinion
• Ensuring framework remains operationally effective as the business evolves
• Challenging information provided by colleagues within the Group
• Ensuring that the necessary tools are available to be able to understand and conduct an informed independent review of the Group and where necessary, attending risk management skills training enabling the job holder to critically assess the effectiveness of governance and the risk management framework where their background may not have provided the appropriate skillset
• Undergoing detailed training on regulatory duties

The above Senior Management Function responsibilities relate to the areas of the business covered by the job title and mentioned below in the list of specific responsibilities.

You will be responsible for the following:

• Assisting in the Management of the firm’s compliance with the FCA’s rules on systems and controls against money laundering (AML).
• Receiving internal reports under the AML Regulations.
• Taking reasonable steps to access any relevant know your business information relating to the financial circumstances of a client, or any person on whose behalf the client is or has been acting, and the features of the transactions which the firm has entered into with or for a client.
• Responsible for the firm’s financial sanctions compliance.
• Making external reports to the FCA, law enforcement and other relevant regulatory bodies or government agencies.
• Obtaining and using national and international findings under the AML.
• Taking reasonable steps to establish and maintain adequate arrangements for awareness and training.
• Drafting and producing AML reports and MI that will be presented to the board.

You will have specific responsibility for the following:

• Management of the UK Financial Crime Team; main point of contact for all Financial Crime queries and issues in the UK and escalation point for non-UK Financial Crime Regulatory enquiries;
• Fulfilment of most regulatory obligations of the MLRO as required by the SYSC section of the FCA handbook
• Annual Politically Exposed Persons Review
• Ensure that the Group Financial Crime Policies are up to date at all times, meet all regulatory requirements, and are fully complied with at all times;
• Oversight of the company’s Financial Crime processes and procedures, ensuring that at all times the firm operates a robust and compliant financial crime monitoring and reporting process, in accordance with all UK and overseas regulations as appropriate;

Training

• Preparing and providing AML and Financial Crime training to both new and existing employees
• Ensuring that employees are made aware of and understand their regulatory responsibilities
• Maintain personal/professional development to meet the changing demands of the role, including all relevant regulatory and legislative training
• Maintaining awareness of current statutory and regulatory financial crime obligations, current AML compliance best practice and relevant future developments through attendance at training courses, seminars and other events organised by appropriate professional bodies and trade associations
• Obtaining and using global findings from the company’s international offices, concerning financial crime risks in other jurisdictions that impact upon the business and ensuring that such information is used effectively to manage risk in all countries and ensuring compliance with all appropriate regulatory bodies

You will be responsible for producing the following:

• Monthly report on AML and Financial Crime matters including regulatory changes that may be material in the context of the company`s operations, to the MLRO and or the Board
• Reporting at least annually to the Board on the company`s compliance with the FCA rules (MLRO Report)
• Conduct an annual Group Financial Crime Risk Assessment, Bribery and Corruption and Sanctions Risk Assessment of customers and products for sign-off by an appropriate Committee
• Register of regulatory breaches

KEY SKILLS AND EXPERIENCE

• Proven track record in an MLRO function for a FCA regulated business
• Excellent knowledge of UK Financial Crime regulatory responsibilities in relation to Anti Money Laundering, sanctions, Fraud and Anti-Bribery and Corruption and high risk customers
• Excellent communication skills
• Able to respond positively to changing priorities and adapt to change
• Able to make decisions, problem solving, customer focus
• Excellent understanding of the FCA regulations
• External qualifications preferred i.e. an ICA Certificate, Advanced Certificate or Diploma in Anti Money Laundering, CAMS, CISI, etc

CMC Markets is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of gender, sexual orientation, marital or civil partner status, gender reassignment, race, colour, nationality, ethnic or national origin, religion or belief, disability or age.