ANTI-MONEY LAUNDERING AND MLRO

Service Description

• Developing and maintaining the firm’s anti-money laundering and counter-terrorist financing policy in line with evolving statutory and regulatory obligations. • Supporting and coordinating management focus on the money laundering risk in individual business areas. • Assisting SMCR roles in creating, developing and maintaining an effective anti-money laundering and counter-terrorist financing compliance culture. • Ensuring that the firm’s risk management policies, risk assessment profile and your applications are adequately documented. • In consultation with management, creating and maintaining the money laundering risk-based approach and the risk assessment of your customers, products and services. • Establishing and maintaining appropriate risk-based monitoring processes that are proportionate to your firm's operations' scale, nature, and complexity. • Developing internal procedures in line with the requirements of current legislation and the relevant industry guidance - JMLSG. • Documenting your firm’s risk-based strategies and the basis for risk assessments and monitoring process. • Ensuring all internal suspicious activity reports received are investigated without delay. • Ensuring that SARs are submitted to the relevant law enforcement agency (NCA) regarding all suspicions that have substance or reasonable doubts. • Ensuring that all staff are aware of their personal obligations and your firm’s policies and procedures and that the basis for your firm’s risk-based approach is understood and applied. • Ensuring that staff comply with the relevant stated policy and monitor operations and development of the policy to this end. • Ensuring that all relevant staff are adequately trained in money laundering and terrorist finance prevention, that the standards and scope of the training are appropriate, and that appropriate training records are kept. • Regularly reviewed the effectiveness of money laundering compliance policies and procedures to prevent money laundering and counter the financing of terrorism. • Providing management information as necessary, including an Annual Report each year for the Board and senior management on the firm’s compliance with its obligations. • Make recommendations for action to remedy any deficiencies in policies, procedures, systems or controls and follow up on those recommendations. • Representing the firm to all external agencies, e.g. regulators or law enforcement agencies.