A reputable client of ours, specialised within the Insurance sector, is looking to onboard an MLRO to join their team of professionals. The designated person will serve as the focal point for all AML / CFT activities, ensuring effective system and controls to prevent financial crime; and overall responsibilities are as follows:
Duties:
Review internal STRs re knowledge or suspicion of AML/CFT and conduct the required checks
Ensure there is adequate entity wide knowledge on the internal reporting requirements which must be actioned when there is suspicion or reasonable grounds for suspicion that (i) funds are the proceeds of criminal activity (ii) funds are related to funding of terrorism (iii) a person may have been, is or may be connected to the funding of terrorism
Submit external STRs re knowledge or suspicion of AML/CFT to the Regulator within the timelines established by the appropriate regulatory framework
Ensure that yearly reporting obligations (REQ/BRA) to the Regulator are submitted in a timely and orderly manner
Sign-off / review new products and business initiatives as compliant with the applicable regulatory requirements and the onboarding / maintenance / exiting of client relationships as may be appropriate
Ensure that adequate and up to date AML/CFT related training is provided to all staff and intermediaries on a regular basis, and that periodical checks are completed / intended to confirm adherence to current policies and procedures
Document periodical updates on Financial Crime Compliance issues in reports submitted through governance structures including the Risk & Compliance Committee and the Board of Directors
Monitor the upkeep of the Company’s AML Handbook
Requirements
At least 4 years working in a regulatory environment within the financial services
Strong knowledge of Maltese AML/CFT laws, FIAU Implementing Procedures, and MFSA expectations
Must be PQd by the MFSA
Must have excellent verbal and written communication skills in English
Education and Experience
Relevant professional qualifications in compliance, AML, or risk management
