Money Laundering Reporting Officer (MLRO) JOB DESCRIPTION GUIDE

Money Laundering Reporting Officer (MLRO) Salary Guide

Looking to hire top talent or advance your career? Our expertly researched salary guide for 2024 provides valuable insights into Banking & Finance positions!

Money Laundering Reporting Officer Top Duties and Qualifications

A Money Laundering Reporting Officer (MLRO) provides fundamental assurance that a financial institution is AML compliant, which means it is actually fighting financial crime. The MLRO is responsible for ensuring the organization has correct AML policies in place, reporting suspicious activity, and fulfilling the reporting obligation under AML/CTF legislation relating to money laundering and terrorist financing.

Shape the secure future for the finance and banking sector! Evaluate the qualifications and responsibilities top UAE banks and Finance firms acquired for the Money Laundering Reporting Officer (MLRO) role:

Desired Profile For A Money Laundering Reporting Officer

Roles and Duties

Below mentioned are the duties generally acquired by the banking sector

Develop and implement policies and procedures to combat money laundering and suspicious financing effectively.
Report and track suspicious transactions to the relevant regulatory authorities.
Conduct risk assessments and due diligence on customers and transactions.
Apply AML/CFT regulations and industry standards.
Communicate with internal stakeholders for proper identification and mitigation of risks.
Provide employee training and education in combating money laundering.
Manage relationships and liaise with regulatory bodies and law enforcement.

Qualifications And Certifications

Essential qualifications and certifications required for Money Laundering Reporting Officer (MLRO)role in UAE Banking and Finance:

Required Bachelor’s degree (or equivalent) in:

Accounting
Finance or Economics
Business Administration
Risk Management
Law or Compliance

MSc/ MA or any postgraduate degree in a related field is also highly appreciated for advancing their career.
Professional Certifications like:

Certified Anti-Money Laundering Specialist (CAMS)
Certified Financial Crimes Specialist (CFCS)
Certified Risk and Compliance Professional (CRCP)
Certified Compliance Professional (CCP)
Certified Fraud Examiner (CFE)
ACAMS Certified Anti-Money Laundering Specialist

Skills And Expertise

Here is the list of experiences and soft skills that are in demand for the role of Money Laundering Reporting Officer (MLRO):

3 – 5 years of experience in AML/CFT, compliance, or related field.
Strong command of MS Office programs for documentation and data analysis.
Strong knowledge of AML/CFT regulations, laws, and industry standards.
Good leadership and decision-making qualities.
Strong analytical and investigative ability.
Attention to detail.
Excellent financial abilities, such as portfolio management and credit research.
Excellent interpersonal and communication skills to engage relations with key stakeholders.

RFS HR Consultancy, a Premier Talent Management Consultancy for Business and Finance companies in UAE, specializes in connecting top businesses with talented professionals.

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