Compliance MLRO and MLCO

An exclusive opportunity has arisen with our client, a well-established financial services provider based in Guernsey, who is seeking to appoint a Money Laundering Reporting Officer (MLRO) and Money Laundering Compliance Officer (MLCO).

These are regulated roles under Guernsey law, requiring a high level of expertise in Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT). The successful individual will fulfil these functions across multiple licensed entities on behalf of the firm.

The role involves oversight of AML/CFT compliance, including the receipt and external reporting of Internal Disclosure Reports (IDRs), handling production orders, and responding to requests from regulatory and enforcement bodies. The incumbent will also be responsible for monitoring adherence to internal financial crime policies, leading board reporting, and ensuring regulatory obligations are met.

Key Responsibilities:

• Review and update the Business Risk Assessments for the relevant entities annually or in response to changes in the jurisdiction’s National Risk Assessment.
• Ensure full compliance with all applicable sanctions regimes.
• Receive, evaluate, and where appropriate, externally report IDRs. Maintain IDR registers and provide related advice, including on tipping-off concerns.
• Oversee financial crime compliance testing; escalate findings, ensure timely remediation, and provide recommendations for process improvements.
• Manage correspondence and requests for information from regulatory and enforcement bodies, including the Guernsey Financial Services Commission (GFSC) and the Financial Intelligence Service (FIS).
• Monitor regulatory developments in the financial crime landscape and ensure appropriate internal action and communication.
• Deliver AML/CFT training to staff and boards as required under local regulations, and identify further training needs.
• Review and enhance policies, procedures, and controls to maintain compliance with regulatory standards.
• Review and approve high-risk clients at onboarding and during periodic reviews.
• Oversee any outsourced functions related to financial crime compliance.
• Participate in and represent Compliance on relevant internal committees and projects.
• Prepare and present MLRO/MLCO reports to boards and relevant committees, ensuring proper escalation of key issues.
• Ensure timely submission of all financial crime-related regulatory returns.
• Lead the firm’s response to GFSC site visits, thematic reviews, and consultations.
• Provide expert guidance to staff and senior management on financial crime matters.
• Participate in group-wide projects and collaborate with colleagues in other jurisdictions as necessary.

Requirements:

• A minimum of 10 years’ experience in financial crime compliance or a closely related area.
• Deep understanding of AML/CFT regulatory frameworks and emerging risks.
• Demonstrable experience operating at a senior management level.
• Excellent verbal and written communication skills.
• Strong working relationship with local regulatory and enforcement bodies (e.g. GFSC and FIS).
• Proven ability to deliver AML training and mentor staff.
• Skilled in assessing complex regulatory issues and exercising sound judgement.
• Prior experience in managing regulated functions and satisfying ‘no objection’ requirements from the regulator is essential.