Our Client is a recently licensed Electronic Money Institution (EMI) by the Central Bank of Cyprus. By heritage, they are a fintech company, part of a leading global fintech, health tech, and real estate conglomerate. Our mission is to offer banking services through elevated customer experience.
Job Description:
- The AMLCO will be responsible for the effective operation and oversight of the Company’s AML/CFT, sanctions and proliferation-financing framework. The role will have the necessary independence, authority, resources and direct access to the Board of Directors.
Responsibilities:
- Act as the designated Anti-Money Laundering Compliance Officer (AMLCO), ensuring full compliance with AML/CFT regulations.
- Develop, maintain and oversee the implementation of the Company’s AML/CFT policies, procedures, systems and controls in line with regulatory standards.
- Lead and regularly update the AML/CFT Business-Wide Risk Assessment.
- Monitor the Company’s compliance with applicable AML/CFT legislation, the CBC AML/CFT Directive and internal policies.
- Oversee customer due diligence, enhanced due diligence, customer risk classification and ongoing monitoring.
- Review and approve high-risk customer relationships, including PEPs and customers connected with high-risk sectors or jurisdictions.
- Receive and evaluate internal reports of knowledge or suspicion of money laundering or terrorist financing.
- Determine whether suspicious activity reports should be submitted to MOKAS and maintain the relevant confidential records.
- Oversee transaction monitoring, sanctions screening and the investigation of unusual or suspicious activity.
- Advise the Board and relevant employees on AML/CFT risks, obligations and regulatory developments.
- Prepare regular reports and the annual AMLCO report for submission to the Board.
- Escalate material AML/CFT deficiencies, breaches and suspicious matters directly to the Board.
- Monitor the implementation of AML/CFT remedial actions and recommendations.
- Assess the AML/CFT risks of new products, services, technologies, customer categories and geographic markets.
- Develop and oversee AML/CFT and sanctions training for employees, senior management and the Board.
- Act as a key contact with the CBC, MOKAS and other relevant authorities on AML/CFT matters.
- Maintain appropriate AML/CFT records, registers and management information.
- Oversee AML system configuration, maintenance, performance and data quality.
- Approve and test AML rules, scenarios, thresholds and system changes.
- Prepare and submit accurate AML/CFT returns, reports and notifications to the CBC.
- Report material AML/CFT breaches or system failures and oversee remediation of CBC findings.
Required Qualifications and Skills:
- At least six years of experience in an AMLCO role within entities regulated under EU anti-money laundering laws.
- Demonstrable AML/CFT experience in high-risk sectors, such as crypto-assets and virtual asset services, gambling and online gaming, investment or brokerage services, trading in derivatives and CFDs.
- Relevant university degree in Law, Finance, Economics, Accounting, Business Administration or a related field.
- Strong knowledge of the Cyprus and EU AML/CFT and sanctions framework.
- Practical experience in CDD, EDD, transaction monitoring, sanctions screening and suspicious activity reporting.
- High integrity, independence of mind and sound professional judgement.
- Ability to report effectively to the Board and engage with competent authorities.
- Excellent written and spoken English.
- AML certification, such as CySEC AML, ACAMS or any other equivalent will be considered as advantage.
Our Offering:
- Opportunity to work with cutting-edge fintech payment products in a dynamic and growing company.
- Continuous learning opportunities, with exposure to new tech, schemes, and global payment trends.
- A fast-paced, collaborative environment where ideas turn into impact quickly.
- A culture that values innovation, collaboration and growth through role ownership and responsibility.
- Competitive compensation and benefits package.- TBD
To apply:
Please send your CV to StaffMatters at admin@smstaffmatters.com and mention that you are applying for the vacancy of AMLCO (Anti-Money Laundering Compliance Officer) with reference number 4567.
Or you can apply directly through your candidate login by hitting the APPLY button.
