Job Title: Money Laundering Reporting Officer
Location: Lucan
Job Type: Part-Time (Permanent)
Lucan District Credit Union is seeking to hire a part-time Money Laundering Reporting Officer (MLRO) to manage our AML/CTF function.
The MLRO will be an integral part of our team bringing expertise to LDCU in anti-money laundering. The role will involve making recommendations to improve our AML/CTF function and control environment, in addition to monitoring, testing and reporting to the Board monthly, as currently required by legislation.
The successful candidate will report to the Operations Manager playing a pivotal role in ensuring LDCU’s AML compliance with the Criminal Justice Act, European AML Directives, legislation, regulations, and company policies. This will require an experienced candidate with demonstrated ability to work effectively within a team.
Required is the ability to exercise oversight, knowledge and understanding of financial crime and AML policies, procedures, fraud detection methodologies, and emerging practice in financial crime and money laundering typologies and control arrangements.
This is an office-based role.
Main Responsibilities
The MLRO will ensure that the AML/CTF function is fully compliant with all regulatory and legislative requirements, as well as the credit union AML/CTF policy and associated procedures.
Promote, embed and enhance best practice, by fostering, encouraging, and cultivating a strong awareness and understanding of AML/CTF requirements in the credit union.
Serve as the designated point of contact for AML/CFT issues during engagement with internal and external partners such as the FIU, An Garda Siochana, Revenue, the Central Bank of Ireland, the Risk management officer (RMO), the Compliance Officer (CO), and Internal and external auditors.
Work with the management team to evaluate potential fraud and financial crime risks.
Oversee initiatives focused on translating new legislation and emerging financial crimes typologies into clear business-focused processes and remaining familiar and up to date with all existing and emerging legislative and regulatory requirements and guidance.
Document the annual AML/CTF compliance monitoring and testing plan and complete weekly monitoring and testing in accordance with same to inform the AML compliance position, reporting to the Board monthly.
Advise the Board of Directors on new and impending legislative and regulatory requirements and guidance.
Review and update the credit union’s AML/CFT policy and related procedures, annually at a minimum.
Maintain AML/CFT records, including STRs, monitoring reports and audit/reviews.
Prepare and submit Suspicious Transaction Reports (STRs) to the relevant authorities, where deemed appropriate.
Assist in the maintenance and review of the AML risk framework.
Support annual staff and Board training on AML/CTF.
Attend and contribute to staff meetings as required.
Maintain a high professional competency, attending training, workshops or undertaking additional courses where required. Meeting annual CPD requirements to maintain qualifications.
Qualifications and Experience
3 years minimum work experience in AML/CTF function.
Essential that candidate has previous experience working within a credit union.
Essential to have relevant qualifications - Certified Anti-Money Laundering Specialist (CAMS), Financial Crime with the IOB or similar.
QFA would be desirable.
Advanced knowledge of the Criminal Justice (Money Laundering and Terrorist Financing) Act (as amended) and the regulations of the Central Bank of Ireland (CBI).
Knowledge of the Credit Union Act (as amended) preferred.
Ability to work on own initiative but also comfortable working as part of a team.
Strong analytical skills, able to manipulate data/spreadsheets.
Ability to write clear and concise reports for the Board and management.
Excellent oral and written communication skills.
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