Deputy Money Laundering Reporting Officer, Monese
2-3 days a week in office (Marylebone, London)
Mobile-only digital banking alternative
Job no longer available
Mobile-only digital banking alternative
101-200 employees
Job no longer available
2-3 days a week in office (Marylebone, London)
101-200 employees
Company mission
To make global banking accessible to everyone.
Role
Who you are
- To have a minimum 5-7 years of experience in working in a FCA compliance role at a Payment Institution or E-Money Institution
- To have held the role of DMLRO, or at least demonstrate deputising for this role
- To show a successful track record in people management (inc coaching and developing)
- To have knowledge of payments, risks and UK/EU regulations (4/5MLD, JMLSG, FCA Handbook SYSC)
- To have proven experience in the understanding and interpretation of regulation within the payment industry and the implementation of solutions to address regulatory requirements
- To show in-depth experience of monitoring and the ability to develop compliance monitoring programs and techniques
- Demonstrate technical and practical expertise of money laundering & terrorist financing regulations
- To offer excellent interpersonal and communication skills (both written and spoken)
- To be a self-starter, the type of person always looking for ways to improve
- To be able to work well under pressure and manage a number of different tasks at the same time, often meeting tight deadlines
What the job involves
- We are seeking a Deputy MLRO to join our growing team and assist our MLRO in ensuring compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations
- In this role, you will work closely with the MLRO to develop and implement effective policies and procedures to prevent financial crime and maintain the integrity of our services
- This is an exciting opportunity for a highly motivated and experienced individual to make a significant impact in a fast-paced and innovative company
- Assist the MLRO in conducting regular risk assessments and monitoring of potential money laundering and terrorist financing activities
- Keep up to date with changes in AML and CTF laws and regulations, and implement necessary changes to the company's policies and procedures
- Investigate and report any potential suspicious activity or transactions to the appropriate authorities
- Conduct due diligence and enhanced due diligence on high-risk customers and transactions
- Develop and deliver AML and CTF training to employees and ensure their understanding and compliance of the company's policies and procedures
- Ensure that appropriate record-keeping and reporting mechanisms are in place to meet regulatory requirements
- Support the MLRO in submitting timely and accurate reports to senior management and regulatory bodies on AML and CTF activities
Salary benchmarks
Our take
Most banks haven't innovated their consumer offering for decades, but in recent years the tide has been turning. Fast-moving disruptors have brought numerous consumer-first banking products to market, with valuable and innovative features - and one of these is Monese.
Monese's differentiator is that it targets customers with a ‘thin’ credit file, which makes it attractive to recent migrants or other customers that don’t have a full financial history. These people can find it cumbersome to apply for accounts with high street banks, but with Monese accounts can be opened in just 2 minutes with minimal documentation.
In 2023, the company launched its XYB banking platform, aiming to improve the way banks make financial services available for UK and European clients. The next year, Monese was acquired by Pockit (another business serving underbanked people). The companies remain in a transitionary period as the combination of their operations is finalised, both continuing to deliver their valuable services.
Steph
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 7 rounds)
Sep 2022
$35m
LATE VC
Sep 2021
$90m
SERIES C
Total funding: $209.5m
Company benefits
- 25 days annual leave, plus public holidays, plus an extra day every year worked
- Hybrid working and 30 days work abroad per year
- Sports compensation with Stebby or direct discount from a gym
- 10 paid sick days per year
- Learning & development budget and 10 paid learning days per annum
- VIP Pockit & Monese accounts
- Share options (exact details depending on your role and level)
- Social events throughout the year
- Bupa personal private healthcare
Company HQ
City of London, London, UK
Leadership
Virraj Jatania
(CEO (Pockit))CEO and Co-founder of Monese's parent company, who has been involved with leading the company since its acquisition in 2024. Previously worked for a multinational company in the cosmetics and personal care space.
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