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Money Laundering Reporting Officer ( MLRO )

  • Location

    Malta

  • Sector:

    Banking

  • Contract Type:

    Permanent

  • Salary:

    Attractive Salary Package

  • Contact:

    Tijana Tufek

  • Job Reference:

    6120

  • Published:

    4 months ago

  • Expiry:

    31 May 00:00

  • Client Details:

    Castille

  • Consultant:

    Tijana Tufek

A well established banking institution is seeking to recruit a Money Laundering Reporting Officer who will be responsible for all aspects of the Banks's AML and CFT frameworks in relation to actitivies conducted by the Bank. MLRO will be the focal point for all activity relating to AML/CFT.

Job duties include:

  • The MLRO is responsible for ensuring that the Bank achieved and maintains compliance with all current and future regulatory requirements in relation to AML/CFT. The MLRO is also to ensure that the Bank and its employees are kept aware of their regulatory obligations within their area of responsibility and changes thereof. Any necessary changes are made to conform within established timescales.
  • The MLRO shall be responsible for carrying out risk assessments, in line with the Bank's Policies and Procedures, measuring the Bank's threats and vulnerabilities of the Bank's operations to money laundering and funding of terrorism.
  • In line with the Bank's Policies and Procedures, the MLRO shall formulate and update the Customer Risk Assessment in cooperation with the CRO. The MLRO is also responsible for the implementation of this Customer Risk Assessment Policy, through procedures, training, reporting and advice to staff and management.
  • The MLRO shall be responsible for the monitoring of transactions, managing of alerts and cases from systems and tools available to identify transactions and activities that deviate from the norm. The MLRO shall be investigating and analyzing suspicious activity reporting from the Bank's staff and shall be considering such reports to determine whether a suspicious transaction report is to be submitted to the FIAU and/or authorities concerned. The MLRO shall be reporting any suspicious actitivity to the relevant authority.
  • The MLRO shall be the point of contact with the regulators on issues relating to money laundering and funding of terrorism within the Bank.He/ she shall also be responding promptly to any request for information made by authorities, provided such is withing their legal remit, follow-up on suspicious transaction reports or compliance assessments carried out by authorities.

Skills and Qualifications required:

  • The MLRO shall act as an approved person by MFSA or any other regulatory authority, as deemed necessary.
  • He/ She must have the necessary knowledge to the authority regulatory requirement, as well as to understand how to apply it. 
  • The successful candidate has to ensure his/hers knowledge remains up to date and must be able to transpose such knowledge