Head of Financial Crime Prevention & MLRO

The Bank

A leading issuing bank, who has been transforming the future of cross border payments to serve our Clients over the past 18 years. The Bank has recently embarked on a journey to expand its banking product range and now offers digital corporate banking services locally.

The Bank has offices in London, Malta and Gibraltar, currently serving innovative Clients through a portfolio of E-Money products and payment services as well as deposit accounts for its Corporate Clients. As a leader in the industry, we set the standard for excellence in the payments sector. We are forward thinkers in a complex ecosystem and partner with cutting edge Fintech’s to challenge the way we conventionally bank for the better.

Investors

Our parent company, IDT Corporation, is an innovative and opportunity seeking multinational company headquartered in the US and listed on the New York Stock Exchange, with offices across the globe.

Role Outline

We are looking for an experienced Head of Financial Crime Prevention & MLRO, ideally with financial services experience in a licensed entity. The role will manage the Financial Crime Prevention team, support the development of financial crime systems, policies and processes, and manage the operational activities to ensure legal, regulatory and internal requirements are met.
The relevant candidate must also be able to demonstrate management experience and ability as he or she will be required to manage a dedicated team of financial crime prevention professionals, as well as coordinating and working closely with other departments at the firm.

Main Responsibilities:

• Regulated individual, subject to approval from the GFSC to act as the Bank’s MLRO.
• Responsible for management and resourcing of the Financial Crime Prevention Team. Allocate and manage workload of the team ensuring that the Department and individuals meet internal SLA and deliver quality service.
• Manage the performance of the team through delivery of competency and QA framework and team training and development plans to develop the skills of the team and encourage retention.
• Test, tune and calibrate rule sets and thresholds for transaction monitoring systems.
• Maintain comprehensive Financial Crime Prevention Department procedures and records which meet business and regulatory requirements.
• Oversee the firm’s fraud, AML, CFT and PF framework, including drafting and submission of all
mandatory and supplementary reports.
• Participate in the risk analysis and control of new products, services and jurisdictions.
• Maintain appropriate systems and controls to provide management information as the MLRO to other senior managers to enable the measurement and management of Financial Crime risks across the business.
• Support business areas in understanding their Financial Crime related risks and how to implement appropriate systems and controls to mitigate those risks. This includes acting as
SME on key projects as designated by the Compliance Director.
• Support the review of the Financial Crime Policy and associated policies to ensure they are in line with current regulation and business developments and recommend amendments where appropriate. Assist the Compliance Director in communicating any relevant impacts to stakeholders in a clear and helpful manner.
• SARs evaluation & reporting.
• Plan and manage compliance & AML projects.
• Contribute to the Conduct and Operational Risk Committee.

Competencies, Knowledge & Skills
• Knowledge of E-money, Payments and Banking Regulations in the UK & EEA.
• Preferably previous experience working in a banking or financial services environment with in-depth knowledge of financial crime and financial services regulations. In particular, the Gibraltar Financial Services Commission’s; Systems of control to prevent the financial system from being used for money laundering, terrorist financing or proliferation financing activities.
• You have a high level of comfort using and deploying industry IT applications that monitor AML and fraud risks.
• You have experience with analysing data/reports/trends.
• You are comfortable giving oversight and assurance on the prevention of financial crime.
• Strong understanding of anti-money laundering directives and active legislation within the United Kingdom, Gibraltar and the European Union.
• An ability to work independently in completing assigned duties to sometimes tight deadlines.
• Solid managerial experience preferably in a banking or payments environment.

Additional Skills Required
• Professional mannerism
• Self-motivated and able to work with a team to complete necessary tasks in a timely manner
• Pro-active approach to daily duties
• Ability to take initiative and utilize sound judgment in decision-making
• The ability to work to deadlines
• Agile and pragmatic when approaching change
• Adaptable to a wide range of products and variables when assessing risk
• Good oral and written communication skills

The holder of this position will be expected to pass the required background checks in line with the Bank’s policy.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.