Money Laundering Reporting Officer (MLRO)

Job description / Role

About Company & Role Purpose
Our client is a licensed crypto-assets trading platform regulated by the Central Bank of Bahrain and Dubai's Virtual Asset Regulatory Authority.

As the MLRO, you will ensure the company complies with anti-money laundering (AML) laws and regulations. This role is critical in safeguarding the organization against financial crimes, including money laundering, terrorist financing, and fraud. You will act as the key point of contact with regulators and be responsible for reporting any suspicious activities.

KEY RESPONSIBILITIES, ACCOUNTABILITIES AND ACTIVITIES
General
• Review and approve client due diligence documentation in accordance with AML/CFT policies and procedures.
• Ensure timely responses to inquiries from regulators and other authorities, providing necessary documentation and information for audits or investigations.
• Monitor the performance of the AML/CFT program, continuously improving its effectiveness and addressing any deficiencies.
• Stay updated on industry standards and regulatory requirements, communicating compliance concerns and recommended revisions to senior management and the Board of Directors.
• Review and analyze AML/CFT-related queries, including Suspicious Transaction Reports (STRs), ensuring thorough review and reporting as required.
• Prepare detailed annual reports on AML matters, including AML/CFT presentations and Compliance MIS for senior management and the Board of Directors.
• Oversee transaction monitoring systems to identify unusual or suspicious activity.
• Investigate and document suspicious transactions or behaviors.
• Submit Suspicious Activity Reports (SARs) to the relevant authorities promptly.
• Maintain detailed records of all SARs and follow up as necessary.
• Design and deliver AML/CTF training programs for employees.
• Ensure all staff understand their responsibilities and obligations regarding AML.
• Draft, implement, and review AML policies, procedures, and controls.
• Keep policies aligned with evolving regulations and industry standards.
• Facilitate internal and external audits related to AML compliance.
• Address findings from audits and implement corrective actions.
• Advise senior management on AML/CTF risks and regulatory changes.
• Represent the company in industry forums or events related to compliance.

• At least 5 years of progressive experience in AML Compliance and AML Risk functions within a financial institution.
• Expert proficiency in MS Excel and analytical tools, with demonstrated experience in managing AML data and reporting.
• Professional Certifications such as CAMS or ICA Advanced Certification or Diploma are mandatory.
• In-depth knowledge of Digital Assets and familiarity with blockchain technology is preferred.
Skills
• Expertise in regulatory compliance: Comprehensive understanding of regulatory compliance requirements and AML/CFT policies and procedures, with the ability to interpret and apply them effectively in a financial institution setting.
• Exceptional attention to detail: Demonstrated ability to meticulously review documentation, identify discrepancies, and ensure accuracy and compliance with regulatory standards.
• Effective communication skills: Strong verbal and written communication skills to convey complex compliance-related information clearly and effectively to stakeholders at all levels of the organization.
• Proactive approach to learning and development: Commitment to staying updated on industry trends and regulatory changes, actively seeking opportunities for continuous learning and professional development.
• Strategic leadership: Strong leadership and team management skills, with the ability to inspire and motivate Compliance Department staff to uphold the highest standards of regulatory compliance and achieve organizational goals.

About the Company

Propel Consult delivers a service in step with the needs of both our client companies and candidates. Our ability to add value to all levels of recruitment stems from our wholehearted belief in providing a professional service to both parties.

We have built relationships with many leading indigenous and mulitnational organisations throughout the Middle East and internationally in countries such as UAE, Qatar, Saudi Arabia, Oman, Bahrain, Kuwait, Egypt and many more.

Concentrating our resources has created 5 distinct specialist divisions:

• Banking & Finance
• Human Resources
• Oil & Gas
• Construction
• Architecture & Engineering