Money Laundry reporting Officer (MLRO – SMF17)

Business Unit:  Virgin Money Investments
Salary range: £76,000 - £95,000 per annum pro rata
Location:  UK Remote – Preferably commutable to London
Contract type: Part time 2- 3 days per week, 12-month FTC

Our Team

Virgin Money Investments (VMI) runs the pension, Stocks and Shares ISA and General Investment Account products for Virgin Money. We’re looking for a Money Laundering Reporting Officer (MLRO) to join our team 2-3 days a week.  The role holder will be our SMF17 holding 1^st line and the wider business to account for all Economic Crime related activities.

What you’ll be doing

• You will hold the FCA Senior Management function of Money Laundering Reporting Officer (SMF 17) along with prescribed responsibility (d) ‘Responsibility for the firm’s policies and procedures for countering the risk that the firm might be used to further financial crime’.
• Work closely with the VMI Chief Risk Officer, Leadership Team and first line financial crime team to drive effective management and oversight of financial crime and fraud related risks.
• Develop and maintain strong relationships and oversight of critical third parties in discharging their accountabilities.
• Understand the Financial Crime and fraud risks impacting the business and ensure the risks and appropriate controls are properly documented and applied across the business.
• Manage the Anti Financial Crime and Fraud policies and ensure the business complies with these policies
• Provide strong leadership in ensuring the business achieves compliance with anti-financial crime regulations.
• Oversee the performance of anti-financial crime activities delegated to critical outsource providers and ensure any issues are promptly identified and resolved.
• Develop and maintain VMI’s Financial Crime strategy to ensure that internal and external threats are understood and considered in a proactive and pragmatic manner.
• Prepare and present an annual MLRO report for VMI’s Executive and Board assessing the effectiveness of the systems and controls in place to manage money laundering risk to BARC. (March annually).
• Manage financial crime regulatory requests ensuring that responses are prepared and submitted in a timely manner. Ensure that all financial crime regulatory returns are submitted accurately and on time.

We need you to have

• Significant experience working in financial services preferably Investments and Pensions and previously have been approved as SMF17 and held this SMF within the last 24 months.
• Established and led financial crime risk strategies (Anti Bribery and Corruption, AML, Counter Terrorist Financing, Tax Evasion, Proliferation Financing, Fraud and Sanctions).
• Strong leadership skills and be able to provide robust challenge, ensuring compliance with stated regulatory and legal requirements.
• An excellent understanding of the Financial Crime Legal and Regulatory framework.
• Experience of managing transaction monitoring and customer screening systems.
• Experience and ability to interact effectively with senior executive management and regulatory bodies (e.g. FCA).
• Excellent understanding of the Financial Crime Legal and Regulatory framework.
• Strong ability and demonstration of forward thinking into regulatory landscape.

It’s a bonus if you have but not essential

• Professional Economic Crime qualifications
• People Management experience

Red Hot Rewards 

• Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time)​ plus the option to buy more. 
• Up to five extra paid well-being days per year​.  
• 20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt.  
• Market-leading pension.  
• Free private medical cover, income protection and life assurance.  
• Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness.  

And there's no waiting around, you'll enjoy these benefits from day one. 

If we’re lucky to receive a lot of interest, we may close the advert early. Please ensure to submit your applications as soon as possible.  

Say hello to Virgin Money

Virgin Money is so much more than just a bank. As part of the Nationwide group, together we're the UK's first full-service mutual bank serving millions of retail and business customers and all driven by our purpose; Banking but fairer, more rewarding and for the good of society. With us, you’ll be part of an organisation uniquely positioned to make a difference to the lives of customers, communities and broader society and embark on a collaborative, customer obsessed, and fun-filled career journey. Embrace the weekdays, enjoy fantastic perks, and make a meaningful positive difference. Time to discover what it means to be part of the first mutual full-service banking provider.  

Be yourself at Virgin Money

At Virgin Money, we celebrate everyone. We have fun, think big, and relentlessly include each other, all in pursuit of our purpose: Banking – but fairer, more rewarding, and for the good of society.  We’re committed to creating an inclusive culture where colleagues feel safe and inspired to contribute, speak up and be heard.    

As a Disability Confident Leader, we're committed to removing any obstacles to inclusion.  If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team careers@virginmoney.com

Please note: If we receive a high volume of eligible applications, we may need to prioritise candidates whose skills and experience most closely align with the role, while still ensuring fair and equitable consideration for all applicants.

Now the legal bit
Although some of our roles allow you to be based anywhere in the UK, we'll need you to confirm you have the right to work in the UK. 

If you're successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre-employment checks – we'll ask for six years of regulatory references, and once in the role, you'll be subject to periodic employment checks.