MLRO

Osborne Clarke have a fantastic opportunity to join the Risk& Compliance (R&C) department as our Money Laundering Reporting Officer (MLRO).

This is a permanent position that can be based out of our Bristol or London office on a hybrid working basis.

Main purpose of role

As our MLRO you'll act as a senior level advisor with decision making authority who promotes AML controls as a business 'requirement' and drives 'top-down' compliance.

The MLRO serves as a point of escalation with ultimate approval for AML / Counter Terrorist Financing (CTF) queries as part of the firm's Client and Matter Inception (CMI) policy and processes.

The role also acts as a liaison with and support to the MLCO, COLP and COFA as appropriate; and acts as a bridge between the CMI team and the wider business (both the lawyers and other members of business services).

Key responsibilities

This role is a member of the internal Core AML Team (consisting of the Director of R&C, General Counsel, Head of CMI, Head of R&C and Deputy AML Manager); and of the International AML Committee (consisting of MLROs from other OC national businesses). Responsibilities include:

1. To develop and maintain an effective AML and CTF compliance culture, by:

• Developing and maintaining the firm's AML and CTF policies, controls and procedures to mitigate and manage effectively the risks of money laundering and terrorist financing in line with evolving statutory and regulatory obligations, regulators' expectations, and market practice.
• In consultation with senior management, creating and maintaining the firm's money laundering risk-based approach and the firm's practice wide risk assessment (reflecting the firm's clients, products and services, industries and sectors, and geographical reach ); and documenting the firm's risk-based strategies and the basis for risk assessment and monitoring.
• Supporting and coordinating management focus on the money laundering risk in individual business areas.
• Ensuring that the firm's risk AML / CTF management policies, controls and procedures, risk assessment profile, and application are adequately documented and appropriate records kept.
• Establishing and maintaining appropriate AML / CTF risk-based monitoring processes proportionate to the scale, nature, and complexity of the firm's operations.
• Ensuring that all staff : are aware of their personal obligations and the firm's AML / CTF policies, controls and procedures; understand the basis for the firm's risk-based approach; and comply with the firm's policies, controls and procedures, and monitoring and where appropriate taking action to remedy any perceived shortcomings in such awareness, understanding and compliance.
• Ensuring that all staff are adequately and appropriately trained in AML / CTF detection and prevention, that the standards and scope of the training are appropriate, and that appropriate training records are kept.
• Making recommendations for action to remedy any deficiencies in policies, controls and procedures and following up on those recommendations.

2. Representing the firm to all external agencies, e.g. regulators or law enforcement agencies, and in any other third-party enquiries related to money laundering prevention, investigation or compliance.

3. Receiving and reviewing internal Suspicious Activity Reports (SARs), determining whether notification to the National Crime Agency(NCA) is required; and, if so, submitting external SARs to the NCA, working together with the R&C team.

4. Remaining aware of any relevant sanctions, prohibitions or advisory notices. Also, if necessary, advising management and relevant staff of the names of any detected individuals and institutions on the sanctions list.

5. Receiving, considering and responding to all requests and queries for MLRO approval or consideration received from the CMI team (whether required by law or under OC's policies, controls and procedures, e.g. high risk, Swift Start extension).

6. Preparing and submitting an annual report to the firm's Executive Board that assesses the effectiveness of the firm's approach to AML /CTF systems and controls and makes appropriate recommendations for approval.

7. Participating in and supporting AML audits, inspections, and so on, including by the SRA.

8. Contributing to relevant R&C and firmwide projects

9. Supporting the MLCO in their role to:

• Implement and maintain internal systems and controls to enable employees to comply with their obligations under the Money Laundering Regulations (ML Regs), Terrorism Act (TA) and Proceeds of Crime Act (POCA).
• Make recommendations for improvements as appropriate.
• Conduct and/or arrange appropriate firm-wide AML / CTF risk assessments.

Person specification

Technical

• Excellent knowledge and experience of UK and EU AML / CTF laws and regulations, related guidance and market practice and of AML / CTF policies, controls and procedures, and the ability to apply this knowledge appropriately.
• Knowledge and experience of legal professional privilege and the ability to apply this knowledge appropriately.
• Experience working with law firm CMI and AML / CTF policies, controls and procedures.
• Awareness of the risks and the responsibilities related to financial transactions and potential money laundering cases.

Core skills

• Ability to advise and influence senior management. Confidence to make final decisions.
• You will need to be available, accessible and responsive.
• Ability to analyse and assess legal, regulatory and commercial dimensions to make sound, pragmatic and defensible decisions regarding all elements of AML / CTF compliance, including but not limited to accepting new clients and matters.
• Excellent interpersonal skills, able to influence and interact with people at all levels.
• Sensitivity and diplomacy, able to deliver difficult (and sometimes unwelcome) messages, including to the most senior members of the firm.

Salary and benefits

We offer competitive salaries and generous benefits. We value the health and wellbeing of our people and our wide range of initiatives and benefits support this.

Our recruitment process

We welcome direct applications for our opportunities - if you would like any further information about this role or the firm, we would be delighted to hear from you. Please contact, in complete confidence, Philippa Hemmings (Recruitment Manager) on 0117 917 4107 or email philippa.hemmings@osborneclarke.com.

Please note that although we include closing dates for our roles as a guide, we review and progress applications on a rolling basis. At Osborne Clarke we do not make any recruitment decisions using automated decision-making.

We are committed to providing an environment where you can perform to the best of your abilities at every stage of your recruitment experience and beyond. If you require any adjustments to be made during the application stage, interview process, or when working with us, please let us know in confidence.

About Us

Osborne Clarke is an international legal practice with over 330 Partners and more than 1,260 talented lawyers in 26 locations*. Our sector-based approach enables us to help our clients tackle the issues they are facing today, and prepare for the ones that they will face tomorrow. Advising them both comprehensively and commercially. We love working closely with our clients on new deals, products and solutions which will transform their businesses, markets and even sectors. And our unique approachable culture is not an added extra, it's fundamental to our success.

At Osborne Clarke we value difference and encourage applicants from all backgrounds. We want everyone to feel that OC is a place where you can be yourself and belong, and our range of interest groups and diversity networks - not to mention our great teams - are a part of making that a reality.

*Services in India are provided by a relationship firm]]>