Company Description: A leading American investment bank with a significant presence in Frankfurt, Germany are seeking a highly experienced Money Laundering Reporting Officer (MLRO) to join their Frankfurt team.
As the Money Laundering Reporting Officer (MLRO) based in Frankfurt, you will play a pivotal role in overseeing our anti-money laundering (AML) and counter-terrorism financing (CTF) efforts, ensuring compliance with both German and international regulations. Your responsibilities will include:
Compliance Leadership: Lead the bank's efforts in adhering to AML and CTF regulations, policies, and procedures, fostering a culture of compliance throughout the organization in line with both German and international standards.
Risk Assessment: Conduct comprehensive risk assessments specific to the German market, as well as international operations, to identify and evaluate potential money laundering and terrorist financing risks. Implement strategies to mitigate these risks effectively.
Reporting: Oversee and ensure timely and accurate reporting of suspicious transactions or activities to German regulatory authorities (BaFin) and other relevant international bodies, maintaining a high level of transparency and adherence to reporting requirements.
Training and Education: Develop and deliver AML and CTF training programs for employees across different functions, ensuring a thorough understanding of compliance expectations and the importance of early detection, specifically tailored to the German regulatory landscape.
Policy Development: Collaborate with the Compliance and Legal departments to develop and refine AML and CTF policies aligned with both German and international regulations, staying up-to-date with changes in these regulatory frameworks.
Due Diligence: Oversee and enhance customer due diligence processes, ensuring that robust checks are conducted on clients, counterparties, and transactions, in alignment with both German and international regulatory expectations.
Internal Collaboration: Foster close collaboration with various departments, including Compliance, Risk Management, Legal, and Operations, to ensure a cohesive approach to AML and CTF efforts that accounts for both local and international considerations.
Audits and Examinations: Participate in internal audits and external regulatory examinations related to AML and CTF for the German and international operations, providing expert guidance and support to ensure compliance.
- Bachelor's degree in Finance, Law, Business, or a related field; advanced degree is a plus.
- Minimum of 5 years of relevant experience in AML and CTF compliance within a financial institution.
- In-depth knowledge of AML and CTF regulations in Germany, as well as familiarity with international AML standards and best practices.
- Strong leadership skills with a proven track record of building and managing compliance programs.
- Excellent communication and interpersonal skills, capable of working across diverse teams.
- Relevant professional certifications (e.g., CAMS, CFE) are highly desirable.
- Fluency in German & English.
If you could be interested in this role, please reach out to Matthew Carton at Selby Jennings.