Deputy Money Laundering Reporting Officer

  • Location
    • Dublin
  • Date Posted
  • May. 27, 2021
  • Function
  • Finance
  • Sector
  • Financial Services

Revolut is seeking an intelligent, dynamic, innovative and driven DMLRO in Ireland. This person will be responsible for maintaining compliance with the relevant anti money laundering rules and ensuring the effectiveness of the systems and controls in our Financial Crime Compliance team.

This position is critical to support the growth of Revolut’s business and will be the focal point for all activity within Revolut relating to anti-money laundering. This role will require the development and maintenance of Revolut’s compliance strategies and relevant policies, and ensure their rigorous implementation across all functions within the business, while guaranteeing sustained regulatory compliance. The DMLRO will have the level of authority, independence and support to properly carry out his or her responsibilities in connection with our Compliance Program, including Anti-Money Laundering (AML) and Payment Services Directives

.At Revolut we are committed to the highest standards of control, governance and independent oversight. We are searching for someone with extensive experience in the financial industry and proven experience in a compliance function that is excited to design, lead and shape the future of oversight and compliance. This role will drive implementation of compliance control as highlighted in the AML and Compliance Risk Assessments and include a broad set of cross-functional responsibilities to ensure that all personnel are properly trained, processes are scalable, and metrics are accurately reported. You will be expected to identify money laundering risk and maintain our systems and controls, considering a range of factors, including our:

Customer, product and activity profiles

Distribution channels

  • Complexity and volume of our transactions
  • Processes and systems; and operating environment

What you’ll be doing

The DMLRO will also provide support to the business for the launch of products to ensure regulatory requirements are met by overseeing the Financial Crime Compliance Team providing guidance, as appropriate.

  • You’ll be the second in command to the MLRO for Ireland/Western Europe, responsible in the future for leading projects.
  • Maintenance of our risk management policies and risk profile in relation to money laundering, including the  application of those policies
  • Supervision of our appropriate measures to ensure that money laundering risks are taken into account in our day-to-day operation, including in relation to the development of new products; the taking-on of new customers; and changes in our business profile
  • Building, and taking accountability for, the AML/CTF risk management program and the undertaking of regular AML/CTF risk assessments
  • Proactively identifying situations that may pose significant compliance risk and guides management in the development/reviewing/updating of relevant policies, procedures and business practices
  • Driving a compliance review and analysis of new regulatory developments and maintaining oversight of developments impacting business activities
  • Participating and collaborating in compliance advisory and integration projects as well as conduct compliance assessment and define requirements as needed for the approval of business projects and initiatives such as new product development and changes to existing products
  • Preparing reports to senior management, the Board and escalating any key or high risk compliance issues within our  existing governance structure
  • Working cross-functionally across multiple teams to ensure execution against regulatory requirements and internal policies
  • Collaborating with internal Compliance teams (such as Financial Crime, Compliance Operations, Risk & Controls) to identify clear steps necessary to mitigate those regulatory risks and provide those recommendations in the form of clear business requirements

Partnering with Product Owners to educate and drive the appropriate execution of compliance requirementsThis role is critical to the overall execution of our Compliance Program. You will need to work closely with Revolut’s Global Financial Crime team and partner with Legal to implement Program changes to comply with the changing regulatory environment and advise change management processes and control requirements.

Requirements:

  • +5 years of experience in a fraud/compliance/Anti Money Laundering role in the financial services industry in Ireland.
  • Team management skills including the ability to oversee compliance and control activities within a global payment processing environment
  • Knowledge and experience of best practice in Irish financial services regulation, fraud detection methodologies, and emerging practice in financial crime and money laundering typologies.
  • Good communicator with the ability to motivate others
  • Ability to exercise oversight, knowledge and understanding of financial crime and AML policies, procedures and control arrangements in a complex financial operation
  • Problem-solving and decision-making skills, with the ability to analyse complex information to identify the key issue/action and drive resolution
  • Knowledge of the Irish and EU regulatory environment and key financial crime regimes.
  • Understanding of payment systems and markets with a focus on technology and mobile applications
  • A bachelor’s degree or a professional qualification from an internationally recognised body (e.g ICA, ACAMS)