Job Description

Job Summary

We are seeking a SMF16/17 Compliance Officer/ MLRO to join our UK FCA regulated non-bank financial services group.

Are you currently undertaking an approved SMF16/17 role? Are you interested to join a small team with the flexibility of working from home or an office in Essex or the City? Are you ready to play a critical role in safeguarding the group against regulatory and financial crime risks whilst ensuring a best practice approach?

If so, we are keen to hear from you. Please send CV and cover letter explaining your current or recent SMF16/17 role.

1. Introduction

The role encompasses both SMF16 (Compliance Oversight Function) and SMF17 (Money Laundering Reporting Officer) responsibilities.

2. Core Objectives

To uphold and enhance the firm's compliance framework, ensuring adherence to MiFIDPRU regulations, and to lead the efforts in preventing, detecting, and reporting money laundering and financial crime activities, aligning with the responsibilities of SMF16 and SMF17 roles.

3. Key Responsibilities (role specific):

Regulatory Compliance Oversight (SMF16):

Continuously review and update compliance policies and procedures to reflect changes in regulatory requirements and best practices. Lead the compliance monitoring program, ensuring comprehensive coverage of regulatory and legislative obligations. Enhance the compliance risk management framework, incorporating risk assessment, mitigation, and reporting mechanisms. Foster a compliance culture throughout the organization through targeted training and awareness initiatives. Serve as the key advisor on compliance matters to senior management, providing strategic insights and recommendations.
Money Laundering Reporting (SMF17):

Regularly assess and refine the AML and financial crime prevention strategies to address emerging threats and vulnerabilities. Strengthen the due diligence and ongoing monitoring processes to prevent, detect, and report suspicious activities effectively. Engage with external regulators and law enforcement agencies, representing the firm in matters related to financial crime or remediation work. Lead internal investigations into compliance breaches or financial crimes, ensuring appropriate corrective actions are taken.
4. Daily Operations: (role specific)

Regulatory Compliance Oversight (SMF16)

Regulatory Intelligence: Monitor regulatory developments, including updates from the Financial Conduct Authority (FCA), European Securities and Markets Authority (ESMA), and other relevant bodies to ensure early identification of compliance requirements. Policy and Procedure Management: Review and update compliance policies and procedures to incorporate regulatory changes and best practices. Ensure these updates are communicated effectively across the organization. Compliance Monitoring and Testing: Conduct daily compliance checks and periodic deep-dive audits to assess adherence to policies, procedures, and regulatory requirements. This includes trade surveillance, marketing material review, and client communication oversight. Incident Management: Manage the process for identifying, documenting, and resolving compliance breaches or incidents. This involves immediate corrective action and root cause analysis to prevent recurrence. Reporting: Prepare and submit regular compliance reports to senior management and regulatory authorities, highlighting the firm's compliance posture, identified risks, and remediation actions.
Money Laundering Reporting Officer (SMF17)

Transaction Monitoring: Oversee the transaction monitoring program to detect and investigate suspicious activities that may indicate money laundering or terrorist financing. Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD): Ensure rigorous customer due diligence (CDD) and enhanced due diligence (EDD) processes are applied for new and existing clients, focusing on higher-risk categories. Suspicious Activity Reporting: Manage the process for reporting suspicious activities to the National Crime Agency (NCA) or other relevant authorities, in compliance with legal and regulatory requirements. Record Keeping: Maintain accurate and comprehensive records of all AML-related activities, facilitating easy access for audits and regulatory inspections.
5. Skills and Competencies

Advanced knowledge of MiFIDPRU regulations, AML standards, and financial crime prevention methodologies. Strategic thinking with the ability to translate regulatory requirements into practical, business-focused solutions. Effective leadership, communication, and people skills, capable of fostering a culture of compliance and ethical behaviour. Proficient in compliance and AML risk assessment and mitigation strategies.
If you can meet the above challenge, we encourage you to apply for this position. Please send CV and cover letter explaining your current or recent SMF16/17 role.

Job Type: Full-time

Pay: From 80,000.00 per year

Benefits:

Company pension Flexitime Work from home
Application question(s):

How many years (round up) have you performed the role of SMF16 and/ or SMF17? Have you attached a Cover Letter/ Email to explain your current or most recent SMF16/17 role? Were you ever approved for an SMF16 and/ or SMF17 role? If not, your application may be rejected.
Education:

Bachelor's (required)
Experience:

Leadership: 2 years (preferred) SMF 16 and/ or SMF17: 1 year (required) Regulatory reporting: 8 years (required) Compliance management: 8 years (required)
Language:

English (required)
Work authorisation:

United Kingdom (required)
Work Location: Hybrid remote in London