CCO & MLRO

Location

London

Job Purpose

• The Chief Compliance Officer/MLRO (CCO/MLRO) is responsible for leading and overseeing the Compliance and Financial Crime framework for Nedbank London Branch, ensuring adherence to UK regulatory requirements, Group policies, and supervisory expectations.
• The CCO/MLRO holds the FCA Senior Manager Function designations: Compliance Oversight (SMF16) & MLRO (SMF17).
• As SMF16, the CCO/MLRO has overall responsibility for the compliance oversight framework, regulatory engagement, and conduct risk.
• As SMF17, the CCO/MLRO acts as the Money Laundering Reporting Officer, with personal accountability for anti-money laundering, counter-terrorist financing, and sanctions compliance.
• The CCO/MLRO must ensure alignment with Group relevant programs where the obligation does not conflict with local law and that such program remains effective and efficient in identifying, preventing, detecting and correcting non-compliance with applicable laws and regulations of UK and UK supervisory authorities strategic and operational objectives.
• The CCO/MLRO will act as the Nominated Officer as defined in POCA, as well as the Nominated Officer of N.B.S.A. under the Money Laundering Regulations 2017.
• The CCO/MLRO is the Data Protection Officer for Nedbank London Branch and N.B.S.A.
• References to CIB is intended to include N.B.S.A. activity for the purpose of this job description

Job Responsibilities

• Facilitate, foster, promote constructive and collective engagement between Group and Branch functions to ensure a comprehensive cross-border compliant compliance and financial crime program including training program.
• Facilitate and co-ordinate efforts relating to supervisory engagement and communications.
• Advise on and provide strategic direction to MANCO on compliance and financial crime matters.
• Proactively, advise, guide and oversee first line in developing operationally efficient and effective controls.
• Direct and oversee the development of an annual risk management compliance plan that reflects the activity carried out within the UK and offshore activity that falls within the territorial scope of UK.
• Direct the development and oversee local, group or business specific risk assessment(s) which are reflective of the Branch activity and Group obligations.
• Facilitate the application and practical implementation of a risk-based approach across business units and support functions.
• Assess and oversee the adherence of the Branch to its Risk Appetite Statement.
• Facilitate the direction and co-ordinate efforts relating to audits, reviews or supervisory assessments in relation to financial crime or compliance.
• Interact and represent Nedbank, with regulators or other supervisory bodies on compliance and financial crime themes.
• Co-ordinate and oversee internal compliance/financial crime reviews and monitoring activities (e.g. assurance testing of 1st line by 2nd line).
• Oversee the development of meaningful and effective Training program for compliance and financial crime.
• Oversee the Nominated Officer and SAR reporting process for effectiveness.

Job Responsibilities Continue

• Represent Nedbank London at relevant Industry associations.
• Monitor and evaluate the regulatory landscape for the purpose of identify trends, lessons from peer fines and any other relevant development which permits Nedbank to determine the impact and react in a timely fashion.
• Oversee the development and maintenance of policies and other guidance or materials.
• Oversee CASS undertaking.
• Collaborate as required the execution of CIB strategic initiatives.
• Comply with the Senior Managers & Certification Regime (SM&CR), including:
  - Statements of Responsibilities
  - Fitness and Propriety requirements
  - Take reasonable steps to prevent regulatory breaches within areas of responsibility.
  - Ensure adequate handover, succession planning, and continuity arrangements.
• As Nominated Officer of N.B.S.A, responsible for:
  - receiving reports of suspicious activity
  - completing and submitting Suspicious Activity Report, where necessary
  - considering all reports and evaluating if there is evidence of money laundering or terrorist financing
  - asking the NCA for a defence to a money laundering offence in relation to the transactions that they’ve reported, and making sure that no transactions are continued illegally

Committee Membership

• Management Committee (MANCO)
• Sub-High Risk & Reputational Committee (Sub-HRRC)
• Assets and Liabilities Committee (ALCO)
• Enterprise-wide Risk Committee (ERCO)
• Senior Manager and Certification Committee (SMCR)
• New Business and Product Approval (as invitee)

Minimum Experience Level

• Prior FCA Approval for both SMF16 & SMF17 roles

Technical Skills

• Senior-level experience in UK Regulatory Compliance and Financial Crime/AML
• Strong working knowledge of the FCA Handbook, PRA Supervisory Expectations and the UK AML Regime
• Strong knowledge in relation to wholesale products and services
• AI Literacy and AML RegTech
• Proven ability to operate at a senior level
• Strong judgement, independence, and credibility with regulators
• Proven people management and development experience
• Interpersonal skills, communication and presentation skills experience to varied audience

Behavioural Competencies

• Integrity
• Strategic
• Pro-active approach
• Fosters good relationships while maintaining high regulatory standards
• Professional
• Solutions driven
• Adaptable
• Keen to continuously expand knowledge

This role requires the right to live and work in the UK

For any assistance or more info please contact the Nedbank Recruiting Team

[email protected]