Key Responsibilities:
Regulatory Compliance:
Oversee the EMI’s compliance with local and international AML/CTF regulations, including the UK Money Laundering Regulations and the Proceeds of Crime Act.
Stay updated on legislative changes and best practices in AML/CTF compliance and adapt company policies accordingly.
Risk Assessment:
Conduct thorough risk assessments to identify vulnerabilities in the institution's operations and customer base.
Evaluate the effectiveness of the AML controls in place and develop strategies to strengthen the AML framework.
Monitoring and Reporting:
Review customer transactions for suspicious activity and ensure timely reporting (SAR) to the National Crime Agency (NCA) as required.
Maintain detailed records of transaction monitoring and reporting activities, ensuring they are up to date and accessible.
Policy Development:
Develop, implement, and review AML/CTF policies and procedures to ensure compliance with the law and best practices.
Ensure that policies encompass customer due diligence (CDD) measures and enhanced due diligence (EDD) protocols for high-risk customers.
Training and Awareness:
Create and deliver training programs for employees to ensure they are aware of AML obligations and their role in the compliance framework.
Foster an organizational culture that emphasizes compliance and ethical behavior.
Liaison and Coordination:
Act as the primary point of contact for regulatory...