Money Laundering Reporting Officer

About the Role:

As a Money Laundering Reporting Officer (MLRO) at HugoBank, a trailblazer in digital bank, you will play a pivotal role in safeguarding our financial operations. You will be at the forefront of ensuring compliance with anti-money laundering (AML) laws and regulations. This position demands a high level of integrity and diligence, as you will be instrumental in maintaining the bank's reputation and legal standing.

Roles & Responsibilities:

• HugoBank is on the lookout for a Head of Money Laundry Reporting ( MLRO). The successful candidate will be tasked with the crucial job of leading and overseeing all aspects of the bank's anti-money laundering (AML) and counter-terrorist financing (CTF) efforts while formulating, deploying, and administering policies, procedures, and frameworks within our financial realm.
• Key Responsibilities:
• Develop and implement the bank's AML and CTF strategies, policies, and procedures in line with local and international regulatory requirements.
• Create and maintain an effective AML and CTF framework, including risk assessment, customer due diligence, ongoing monitoring, and suspicious activity reporting.
• Stay up-to-date with emerging trends, changes in regulations, and industry best practices related to AML and CTF, and provide guidance to the bank's management and staff.
• Conduct regular AML and CTF risk assessments, identify gaps and weaknesses in the bank's controls, and recommend appropriate corrective actions.
• Ensure the timely and accurate submission of regulatory reports and notifications to relevant authorities, as required.
• Collaborate with internal stakeholders, such as legal, compliance, risk management, and operations, to ensure effective coordination in AML and CTF initiatives.
• Foster a culture of compliance and ethics within the bank, promoting awareness and understanding of AML and CTF policies and requirements.
• Represent the bank in regulatory inspections, audits, and inquiries related to AML and CTF matters.
• Regularly report to senior management and the board of directors on the bank's AML and CTF compliance status, issues, and progress.

Preferred Qualifications & Experience:

• Bachelor's or master's degree in finance, law, or a related field. Additional certifications in AML or CTF (e.g., CAMS, CFCS) are highly desirable.
• Extensive experience in AML and CTF compliance within the banking or financial services industry.
• In-depth knowledge of local and international AML and CTF regulations, guidelines, and best practices, including familiarity with FATF (Financial Action Task Force) recommendations.
• Sound judgment and decision-making skills, with the ability to balance regulatory requirements with the bank's business objectives.