UK MLRO European Head of Financial Crime Compliance

Job Title:European Head of Financial Crime Compliance and UK MLRO
Location:London U.K.
Department: Financial Crime Compliance
Employment Type:Permanent
Work Pattern: FullTime

Overview:

The European Head of Financial Crime/MLRO is in place to act as the focal point for all activity within the firm relating to financial crime including money laundering terrorist financing bribery and fraud tax evasion and sanctions compliance.

The role holder has oversight responsibilities for the firms compliance with FCA rules on systems and controls against financial crime and will ensure that the bank remains compliant with the relevant legislations and regulations that apply to Arab Banking Corporation (B.S.C) ABC International Bank Plc and ABC SA in Europe. The role also fulfils the requirements of the Nominated Officer as required by the Proceeds of Crime Act 2000 as the person within the firm to whom all suspicious activity reports are made.

The role is in the second line of defence (2LOD) and is responsible for oversight of the management of the financial crime regime in ABCIB reviewing the necessary policies standards and procedures to ensure they continue to be adequate and effective. The role holder is also responsible for driving forward improvements and changes needed as a result of regulatory change in the financial crime environment and escalating of management information to Senior Management and the Board.

The role holder is also be the Designated Responsible Officer (RO) for Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) and have 2LOD oversight of Tax Evasion controls within ABCIB.

Management of projects is a key part of the role liaising with Group and local IT as well as all areas of the business.

What You Will Be Doing:

Provide the Bank with regulatory advice and guidance in relation to Financial Crime Compliance.
Develop and deliver with the assistance of the business change plans for the improvement for the Financial Crime risk mitigation regime.
Assist in the development and delivery of applicable policies and procedures to enable the Bank to comply with internal and external regulatory requirements within the Banks overall risk appetite
Interpret Financial Crime Compliance policies and standards.
Advise on existing new and proposed (applicable) Financial Crime regulations laws and market practices
Manage regulatory affairs with all relevant regulatory authorities on behalf of the Bank in particular on behalf of senior management and the board.
Produce and deliver all required reports returns and satisfy all relevant internal and external regulatory requests
Investigate review escalate (as applicable) and report to appropriate authorities all potential and actual breaches of laws and regulations by the Bank staff customers or other relevant parties.
Monitor test and assure business compliance with all applicable external regulatory and internal compliance requirements including ensuring assistance with the annual compliance monitoring plan.
Provide staff training on financial crime compliance policies and procedures regulatory expectations laws regulations and mandatory regulatory requirements including specific training for regulated staff.
Promote a compliance culture within the Bank consistent with the Banks strategic objectives its vision values and Risk Appetite and regulatory expectations.
Where requested provide relevant support for the business provided always that its independence is not conflicted through any such activities
Participate in all relevant governance forums
Proactively build and develop strong relationships with both internal and external stakeholders based on trust capability and integrity
Produce and deliver against an annual compliance plan consistent with Group Compliance requirements Strategic Business plans & objectives and external regulatory requirements and expectations
Drive key projects and programmes to either remediate identified breaches or gaps or deliver compliant outcomes for the banks to satisfy policies strategic objectives or external regulatory requirements
Develop efficient and effective processes to publish and share compliance information with business and staff
Designated Responsible Officer (RO) for FATCA for ABCIB

Candidate Specification:

• Thorough knowledge of antifinancial crime legislation and sanctions regimes affecting ABCIB and ABC SA.
• Understanding of Bank ABC structure and business to understand the financial crime risks.
• Understanding financial crime typologies and how services can be used by money launderers.
• A thorough understanding of sanctions requirements primarily UN EU and OFAC
• At least 5 years experience as an MLRO or 8 years as a deputy MLRO or having worked in compliance and financial crime for 8 years

Equal Employment Opportunity

Bank ABC is committed to the principles of equal employment opportunity for all employees and applicants and in accordance with applicable laws does not discriminate on the basis of sex gender identity gender expression race color religion national origin ancestry age marital status disability medical condition sexual orientation or on any other basis prohibited by law.

We welcome applications from people with disabilities and are committed to providing reasonable adjustments where necessary to make interviews and jobs more accessible. Should you have any difficulty during the recruitment process require any reasonable adjustments or an application to Access to work please contact the recruitment lead on: