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MLRO


Duties and responsibilities

  • Ensuring compliance with laws, rules, regulations, and directives issued pursuant to the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), Bribery & Corruption, and Sanctions regulations
  • Overseeing and ensuring that appropriate systems used for detecting, evaluating and measuring financial crime, as well as appropriate records are updated and maintained in collaboration with other departments of the Bank as required
  • Supporting the Head of FCC in driving multiple, concurrent work streams, review specific deliverables and ensure that project deadlines are met. Proactively engaging and collaborating with First Line key stakeholders to advise on the design of systems, controls and risks pertaining to AML and Sanctions
  • Updating the Head of FCC and the Board Risk Committee Members about proposed Policies and Procedures within the financial crime compliance domain required for adequately addressing the risks associated with Anti-money laundering and countering terrorist financing, as well as those associated with Sanctions and Anti-Bribery and Corruption
  • Receiving and evaluating Unusual Activities Reports (UAR) from all staff and determine the appropriate course of action, including the potential reporting (filing of an STR) to the FIAU, as required, and detailed by the duties of the MLRO. Also, to receive and evaluate any potential notifications or alerts for applicable Sanctions (UN, EU, OFAC, etc.) and determine appropriate actions, including escalation to the Sanctions Monitoring Board
  • Receiving and determining appropriate actions for investigations from any competent Authorities, and to determine potential Assets Freezing or Confiscations as determined by the Assets Recovery Bureau or any other competent Authority
  • Coordinating appropriately and engage with correspondent banks or authorised counterparties in areas associated with the Policies and Procedures applicable to Financial Crime and coordinate appropriate responses and/or escalation on a timely manner
  • Organising and carry out monitoring evaluations, as well as money laundering risk assessments for all the businesses of the bank and ensuring that requests for evaluations by the competent authorities for risk assessments are adequately addressed
  • Providing oversight and assurance by means of ongoing testing and thematic reviews, the effective application of the adopted measures, policies, controls and procedures to ensure compliance with its AML/CFT obligations as part of the overall Financial Crime monitoring plan. Producing regular financial crime management information to be presented to senior management
  • Providing adequate training and mobilise all appropriate internal or external resources required in order to ensure to all staff meet both initial and periodic training in Financial Crime issues, including preventing money laundering, terrorist financing, sanctions and anti-bribery & corruption
  • Managing requests for information and documentation received from the Financial Intelligence Analysis Unit (FIAU), Police Authorities, Courts of Malta and providing timely reports on financial crime activities

Required knowledge, skills and experience

  • Qualification in Banking or Compliance or an equivalent professional qualification from an internationally recognised body
  • Strong technical knowledge of the regulatory framework, international standards and common practises in financial crime compliance within the Financial Services Industry
  • Minimum of 3 years of practical experience in FCC roles within a regulated financial services firm or regulator
  • Experience in testing, sampling and assurance of processes to mitigate risk and/or financial crime investigations is considered an asset
  • Existing Regulatory approval is considered an asset

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We strive to ensure a streamlined account opening process, via a structured and clear set of requirements and personalised assistance during the initial communication stages. If you are interested in opening a corporate account with MeDirect, please complete an Account Opening Information Questionnaire and send it to corporate@medirect.com.mt.

For a comprehensive list of documentation required to open a corporate account please contact us by email at corporate@medirect.com.mt or by phone on (+356) 2557 4444.