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DMLRO

Compliance

Head of Financial Crime / MLRO

IOM

MuchBetter is revolutionising the payments space.

Offering a variety of products including a digital wallet app, wearables, cash vouchers and more, MuchBetter serves over one million users across 100+ markets in over 16 languages.

The MuchBetter Wallet allows customers to spend, send, and store money securely, all from their mobile phones with the ability to pair MuchBetter Wearables, such as key fobs, watches, and more to make contactless payments.

Our newest product, MuchBetter Gateway has been designed to power e-commerce performance through localised payment processors and in 2023, MuchBetter will launch MuchBetter Cash, a dedicated digital wallet that aims to serve cash markets around the world.

Job Purpose

You will support and act in accordance with the direction set by the Head of Financial Crime /MLRO in satisfying the legal and regulatory obligations and risk management of the organisation as they relate to the products and services offered in the jurisdictions in which the organisation is licensed.

As a previous MLRO/Deputy MLRO in a regulated sector, preferably from financial services you will have experience of working in an IoM FSA and/or UK FCA regulated environment and will play a fundamental role in fighting financial crime and securing compliance with AML /CFT regulations as they apply to the company and its products.

Key Tasks:

  • Act as the Deputy MLRO
  • Assist the MLRO with the analysis / investigation of internal suspicious activity disclosures; and where determined as required, the preparation and submission of disclosures to UK and other jurisdiction FIUs where required.
  • Managing the responses to Law Enforcement enquiries in line with the guidelines set by the MLRO. This would include review of responses prepared by Financial Crime Analyst and timely submission of the same. Any exceptions and trends to be escalated to MLRO.
  • In the MLROs absence act as focal point for all / any third-party AML/CFT queries; regulatory, law enforcement and / or other relevant authorities enquiries.
  • Assist MLRO in undertaking the annual business AML/CFT risk assessment and to keep it updated on an on-going basis.
  • Ensure that the financial crime elements of the regulatory compliance framework are well understood across the organisation and contribute to the ongoing development, implementation, and monitoring of the financial crime framework.
  • Ensure financial crime requirements of any license held by the company are adhered to and that Disclosures are filed with the relevant FIUs as required/appropriate.
  • Maintain the PEP / Sanction screening activity, reflective of risk and regulatory expectations and monitor the ongoing effectiveness of this monitoring activity.
  • Maintain transaction monitoring systems and procedures and ensure appropriate parameters continue to be implemented to identify potential ML/TF risk.
  • Maintain relevant financial crime related policies.
  • Provide second line of defense oversight and guidance to first line Customer support teams in the application of defined AML/CFT procedures and controls.
  • Assist with the preparation for any regulatory visits and internal / external audits.
  • Maintain the sanctions control framework, including oversight and testing of the operational compliance measures relating to international sanctions regimes.
  • Provide quarterly reports on the compliance monitoring programmes mentioned above to the Head of Financial Crime/MLRO & the Regulatory Compliance Manager.
  • Alert the Head of Financial Crime/MLRO to any system failures (even where they are temporary or near misses) or material findings that need immediate remediation.
  • Assist with the preparation and delivery of AML / CFT training – normally to be delivered by the Head of Financial Crime & the Regulatory Compliance Manager to the first line teams that are responsible for onboarding (customer & supplier) and transaction monitoring.
  • Assist with any Regulatory or Financial Crime Compliance Company projects as required (for example maintaining multi-jurisdictional AML/CFT regulatory compliance matrices).

Qualifications/Experience:

  • Previous experience of working as a MLRO/Deputy MLRO is essential.
  • Hold an ICA Advanced Certificate or Diploma in AML, Financial Crime or similar or willingness to be working towards one.
  • Knowledge of payment risks and UK/EU regulations.
  • Proven experience of monitoring and the ability to develop compliance monitoring programmes.
  • Strong organisational skills and attention to detail are essential in the role given the variety of responsibilities.
  • Excellent written communication skills and ability to convey complex information in a succinct, understandable way.
  • Ability to prioritise own workload and work without supervision for periods of time.
  • Sound financial crime and open-source intelligence investigative skills.

Attributes and Behaviours:

  • Keeps pace with change – acquires knowledge/skills as the business develops and ensures appropriate systems are in place to complement the same.
  • Develops and maintains positive working relationships with others, both internally and externally.
  • Shares ideas and information openly with colleagues.
  • Assists colleagues unprompted.
  • Takes pride in the achievement of team objectives.
  • Has credibility and integrity and always displays a professional demeanour.
  • Self-motivated – driven to achieve results both individually and companywide.
  • High customer service ethic – is passionate about meeting customer expectations and improving service levels.

Remuneration:

  • A competitive salary
  • BUPA Health Insurance for you and your Spouse/Dependents up to the age of 18
  • BUPA Dental Insurance for you and your Spouse/Dependents up to the age of 18
  • Aviva Pension
  • 25 Days annual leave + all bank holidays
  • 1 extra day annual leave for your birthday
  • Access to Employee Assistance Programme
  • Social and Celebration Events

To apply for this role, please email your CV to HR@rtekk.com

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