What does a successful Money Laundering Reporting Officer do?
AIB Merchant Services (AIBMS) is Ireland’s largest payment solution provider and one of Europe’s largest e-commerce acquirers, with over 40 years experience providing payments and business solutions to our customers around the world to help them grow their business. We use the best technology and work with the world’s largest processor of electronic transactions, to provide the right payments systems for every type of business.
AIBMS is a joint Venture between Allied Irish Bank (AIB), Ireland’s largest bank and Fiserv, a global leader in Fintech and payments. Using our unrivalled experience and expertise, we constantly strive to deliver the smartest solutions for every sector and channel we serve and allow our customers to stay ahead of the pack. AIBMS is committed to conducting its business in compliance with applicable risk management requirements, laws, regulations and guidelines, with integrity and to the highest ethical standards.
In the PCF 52- Money Laundering Reporting Officer role (Compliance Manager level), you will have a direct reporting line to the Chief Compliance Officer and will have regular interaction with the firm’s senior management. The successful candidate will need to demonstrate expert technical knowledge, professionalism, a collegiate and solution focused leadership style and excellent communication abilities.
This role is a Pre-Approval Controlled Function role (PCF-52 Money Laundering Reporting Officer) under the Central Bank of Ireland Fitness and Probity Regulations. Central Bank's approval as well as commitment to adhere to the IAF Conduct Standards is a requirement for this role.
What you will do:
Responsibility for managing the anti-money laundering and countering the financing of terrorism (‘AML/CFT’) 2nd line function in order to address the firm’s money laundering and terrorist financing risks including:
Develop an annual AML/CFT monitoring & testing plan using a risk based approach
Develop and maintain the firms Business Wider Risk Assessment
Act as the MLRO for the firm, ensure STRs are managed effectively and that trends are brought to management attention
Develop and provide an annual MLRO report to the Board
Support any AML/CFT related queries from the Central Bank of Ireland, other regulatory bodies as appropriate or police requests as appropriate.
Ensure provision of AML/CFT services to sister company are completed on time and to a high standard
Remain current on the changing AML/CFT regulatory environment and provide proactive on-going consultancy and guidance to the business on the direct and indirect impact of incoming regulations
Independently assess and determine appropriate resolution actions relating to AML/CFT matters arising from business queries, testing and monitoring results, or non-compliance with relevant policies and procedures.
Timely escalation of concerns relating to the company’s AML/CFT compliance obligations to the AIBMS Senior Management Team, Audit, Risk and Compliance Committee, Board of Directors or regulatory bodies as appropriate.
What you will need to have:
Experience in managing a team of direct reports which includes goal setting, career development, reviews and overall management of the compliance team and their delivery of the AML/CFT framework
Experience in supporting the business in the evaluation of new business opportunities from an AML/CFT perspective
5-10 years AML/CFT experience with a minimum of 3 years people/team management and leadership experience
Demonstrable knowledge of and ability to meet the Common and Additional Conduct Standards as outlined in the Individual Accountability Framework
Demonstrate a track record of being able to balance AML/CFT risk management and supporting strategic initiatives through a solution focused and collaborative mindset
Ability to effectively communicate and build relationships with internal and external stakeholders and peers
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