Head of Financial Crime

Meraki Talent are working with a global currency client looking for a Head of Financial Crime/DMLRO to Head the FinCrime department and report into the MLRO.

Key Responsibilities

1. Anti-Financial Crime Program Development and Oversight

• Design, develop, and implement the institution's Anti-Financial Crime (AFC) framework, policies, and procedures in compliance with FCA regulations, and ensure they are up-to-date with evolving legislation.
• Conduct regular reviews and updates of the AFC program to adapt to emerging risks, including anti-money laundering (AML), counter-terrorist financing (CTF), anti-bribery and corruption (ABC), and fraud prevention.
• Provide oversight for the application of AFC policies across all business functions and identify areas for continuous improvement.

2. Monitoring, Investigation, and Reporting

• Conduct and oversee investigations into suspicious activities and financial crime incidents, ensuring accurate reporting of Suspicious Activity Reports (SARs) to the National Crime Agency (NCA) as required.
• Maintain comprehensive records of all investigations, findings, and follow-up actions, adhering to legal and regulatory requirements for record-keeping and reporting.
• Act as the Deputy MLRO, stepping into the MLRO role as necessary, with responsibility for overseeing AML/CTF reporting obligations to regulatory bodies.

3. Risk Assessment and Analysis

• Conduct enterprise-wide financial crime risk assessments to identify potential vulnerabilities and create effective strategies to mitigate risks.
• Develop risk-based monitoring systems to assess and manage risks from customers, transactions, and business activities.
• Collaborate with the Risk Management team to integrate financial crime risk into the broader enterprise risk management framework.

4. Leadership and Training

• Lead and develop a team of financial crime specialists, providing guidance, mentoring, and performance management to ensure effective and motivated staff.
• Design and deliver ongoing training programs for employees at all levels on AML, CTF, and financial crime prevention to foster a compliant culture across the organization.
• Serve as a primary advisor to senior management on financial crime matters, providing regular updates on regulatory developments and advising on the implications for the institution.

5. Compliance with FCA and Other Regulatory Requirements

• Ensure the organization complies with FCA regulatory obligations, industry best practices, and internal policies on AML, CTF, and financial crime prevention.
• Prepare and submit periodic reports and filings required by the FCA, collaborating with internal and external auditors for assessments and reviews.
• Engage with regulators, law enforcement, and industry bodies as necessary to address financial crime risks and obligations.

6. Transaction Monitoring and Reporting Systems

• Oversee the design, implementation, and maintenance of transaction monitoring systems and controls to identify and report suspicious activity.
• Regularly test and validate the effectiveness of transaction monitoring and screening systems, recommending enhancements as needed.
• Ensure systems meet regulatory standards for reporting quality and timeliness and work with technology teams to implement necessary adjustments or upgrades.

Qualifications and Requirements

Education and Experience

• Bachelor’s degree in Finance, Law, Business, or a related field. An advanced degree is preferred.
• Professional certification in financial crime (e.g., ICA Diploma in Financial Crime, CAMS, or similar) is desirable.
• Minimum of 5 years of experience in financial crime prevention, AML, or compliance within an FCA-regulated environment.
• Proven experience in a leadership role within compliance, with direct responsibility for anti-financial crime program development and execution.

Knowledge and Skills

• In-depth understanding of FCA regulations, especially in relation to AML/CTF and financial crime.
• Strong knowledge of the UK financial services regulatory landscape, including JMLSG guidelines, Proceeds of Crime Act, Bribery Act, and Sanctions requirements.
• Experience in SAR reporting, risk assessments, transaction monitoring, and AML/CTF investigation processes.
• Strong analytical, investigative, and problem-solving skills, with an ability to handle complex and high-stakes scenarios.
• Excellent communication skills, with the ability to engage and influence stakeholders across the organization and with external bodies.
• Proficiency with financial crime monitoring software and systems.

Personal Attributes

• High level of integrity and accountability, with a strong ethical foundation and commitment to maintaining compliance standards.
• Ability to manage multiple projects and deadlines in a fast-paced, regulated environment.
• Detail-oriented, with a structured and organized approach to work and a strong focus on quality.
• Strong leadership and team-building skills, with a collaborative mindset.