Money Laundering Reporting Officer (MLRO)

Job Description

Company Introduction

Job Responsibilities and Duties

• Act as the designated Money Laundering Reporting Officer (MLRO), overseeing the organisation’s AML framework, controls, and internal reporting processes;
• Ensure AML policies, procedures, and controls are effectively implemented, maintained, and aligned with applicable legislation, regulatory requirements, and industry standards;
• Review and update AML documentation and internal procedures in line with regulatory developments and emerging risks;
• Evaluate the effectiveness of existing AML controls and recommend enhancements where required;
• Review and approve client onboarding processes, including customer due diligence (CDD), enhanced due diligence (EDD), and client risk assessments;
• Ensure client acceptance procedures are conducted in accordance with internal policies and regulatory obligations;
• Provide guidance on complex client structures, risk classifications, and higher-risk onboarding cases;
• Monitor client activity and transactions to identify unusual or suspicious behaviour;
• Conduct investigations into potential suspicious activity and ensure the timely escalation and submission of Suspicious Activity Reports (SARs);
• Maintain accurate records relating to investigations, monitoring activities, and regulatory reporting requirements;
• Maintain and update the Business Risk Assessment, Jurisdiction Risk Assessment, and Sanctions Risk Assessment frameworks;
• Prepare and complete the annual Risk Evaluation Questionnaire (REQ);
• Act as the primary point of contact for regulatory authorities, including the MFSA and FIAU;
• Prepare and present AML reports to senior management and the Board of Directors;
• Support regulatory inspections, compliance reviews, and external audits;
• Provide ongoing guidance and support to employees on AML obligations, regulatory requirements, and internal procedures;
• Deliver AML training programmes and awareness sessions across the organisation;
• Monitor developments in AML legislation, regulatory requirements, EU directives, FATF recommendations, and sanctions frameworks;
• Participate in professional development activities, industry seminars, and regulatory workshops to maintain technical knowledge and competence;
• Share regulatory updates and industry best practices with management and employees to strengthen the organisation’s compliance culture;
• Assist with additional compliance, governance, and regulatory matters as required by management or the Board.

Experience

• Bachelor’s degree in Law, Finance, Business, or a related field;
• • Currently PQ’d by the MFSA or eligible and willing to obtain MFSA approval;
• Minimum of 5 years’ experience within an MLRO or senior AML role;
• Strong working knowledge of AML legislation, FIAU Implementing Procedures, MFSA requirements, and related regulatory obligations;
• Experience within corporate services, financial services, or another regulated environment;
• Proficiency in Microsoft Office applications and familiarity with AML and compliance systems.

Personal Skills

• Ability to assess complex client structures, transactions, and risk indicators effectively;
• Strong analytical and investigative skills with the ability to identify, assess, and mitigate risks;
• Excellent written and verbal communication skills, with the ability to engage effectively with senior management, boards, and regulatory authorities;
• High level of accuracy and attention to detail when reviewing documentation and conducting due diligence activities;
• Strong organisational skills with the ability to manage multiple priorities and regulatory deadlines;
• Ability to make sound, independent decisions and exercise professional judgement;
• Strong ethical standards, integrity, and professionalism;
• Ability to deliver training and promote a strong compliance culture across the organisation.