Money Laundering Reporting Officer - Porto

  • Location
    • Porto
  • Date Posted
  • Aug. 11, 2021
  • Function
  • Finance
  • Sector
  • Fintech

Revolut is seeking an experienced MLRO to ensure that the Financial Crime and Anti-Money Laundering Control Frameworks of Revolut are fully integrated and operating effectively against money laundering and relevant regulations.

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 MLRO will have the level of authority, independence and support to properly carry out his or her responsibilities.

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 demand high-levels of energy and creativity, an entrepreneurial spirit and the desire to work in a growing and changing environment.

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

  • Operating and monitoring the effectiveness of controls required by the Frameworks to remain within the Board Risk Appetite
  • Compiling, assessing and reporting compliance, fraud and AML information to the local, Group and functional management
  • Ensuring that Revolut’s activities comply with all relevant legislation and regulation
  • Ensuring Revolut’s compliance framework is maintained and updated as approved by Revolut Board
  • Ensuring all financial-crime-related regulatory reporting obligations are fulfilled
  • In addition, the Compliance Officer is responsible for supporting the local CEO (or AML responsible Member of the Board) in advising the Board.

What you’ll be doing

Defining, developing, managing, refining and documenting the Financial Crime and AML Program to manage all sources of regulatory risk and provide reporting which meets the needs of the regulator, local and Group management.

Working closely with the the Group FinCrime function and other senior managers across the business to identify, assess, update and mitigate the regulatory compliance risks posed to Revolut and determining the priorities and resources required to effectively control them.

Determining identification and verification standards for customer take-on and AML complianceManaging the suspicious activity reporting process, internally and externally;

Communicating with all necessary staff to ensure they understand their responsibilities and are trained in Revolut policies and procedures to identify financial crime, escalate suspicious activity by making internal reports and make external reports to the regulators and other law enforcement bodies in a timely manner.

Receiving and promptly responding to enquiries from law enforcement agencies.

Continuously developing, enhancing and embedding the financial crime and AML risk framework for managing key regulatory risks across the firm, ensuring that all processes are fit for purpose.

Serve as a liaison to the local authorities, manage filings to the local Financial Investigation Unit.

Support to the business where necessary regarding the launch of products to ensure regulatory requirements are met, as appropriateWork cross-functionally across multiple teams to ensure execution against regulatory requirements and internal policies.

Collaborate 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.

Partner with Product Owners to educate and drive the appropriate execution of compliance requirements

What skills you’ll need

  • +5 years of experience in a an MLRO role with a regulated Financial Services firm
  • 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 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.
  • Deep knowledge of the EU regulatory environment and key financial crime regimes.
  • Understanding of payment systems and markets with a focus on technology and mobile applications.
  • Fluent in English language.
  • A bachelor’s degree, with a relevant Master’s Degree preferred or a professional qualification from an internationally recognised body (e.g ICA, ACAMS).

A little about us…When Revolut was founded in 2015, we had a vision to build a sustainable, digital alternative to traditional big banks. Our mission now is to help our customers improve their financial health, empower them to have more control, and promote financial cohesion across the communities in which we operate. Launching into 2020 with 10 million Personal customers and over a quarter of a million Business customers only reinforced our belief in the vast need across the world for better financial services. As our customer base has boomed in the last year, we’ve expanded our team to match that growth. We started 2019 with several hundred employees; we closed it out with 2000.

What we’re looking for…Revolut is being scaled up by people all around the world who share our vision. We’re looking for people who align with our five core values: we believe that we Get it Done because we Think Deeper and are strongly rooted in the Dream Team. We Never Settle hence why we always Deliver Wow. You want to join a community of forward-thinking people - we are here for you. We believe in empowering our Revoluters in their work, giving them autonomy and ownership of what they do. We want everyone at Revolut to own their story and their successes - working with us means you’re not just another cog in the machine.

The benefits

Competitive salary

  • Excellent training and guidance from our team
  • Roll with a free Revolut Metal subscription

Private medical care

Daily meal allowance

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