Money Laundering and Reporting Officer (MLRO) - SMF17

We’re looking for a Money Laundering Reporting Officer (MLRO, SMF17) to oversee Octopus Money Group’s anti-money laundering (AML) and counter-terrorist financing (CFT) frameworks. We largely run a single governance approach across our businesses, so this is a single role with four approvals behind it. You will own the AML and CTF approach, decide when SARs are made and act as our point of contact with regulatory bodies on MLRO matters. You’ll ensure compliance with all relevant regulations, lead investigations and be the expert in the room. This is a strategic and hands-on role, ideal for someone passionate about financial integrity and innovation, with a focus on UK retail customers. Where the role sits: - Reporting to the central Head of Risk and Compliance (SMF16). - Sitting in the central second line risk and compliance team. - Member of the Risk Committee, owning the economic crime reporting. - Presenting the annual MLRO report to the governing body. - Working alongside other senior management across Octopus Money Group (c.£5bn of assets and c.150k clients) and the Octopus Group. - Working closely with other SMFs in the wider Octopus Group of companies. Your role: - Be our key expert on financial crime and lead the whole agenda to keep our customers safe and our team aware of emerging risks. - Work from inside the central risk and compliance team, and alongside the first line business functions and product teams. - Embed financial crime controls in the customer journey to ensure good customer outcomes, using AI tooling where appropriate. - Stay up to date with regulatory developments and industry best practices. - Be our policy and framework lead on financial crime, which includes: - Holding the money laundering reporting function (SMF17) and acting as nominated officer - Taking on further entities where appropriate, including any we acquire - Owning a single money laundering and terrorist financing approach, with entity specific requirements where business genuinely differs - Developing, implementing and maintaining AML/CTF policies, procedures and controls - Deciding when a SAR or a defence against money laundering request goes to the NCA, and managing the tipping off risk that follows - Overseeing CDD, EDD and PEP treatment across our advice, discretionary management, fund and platform journeys, including where a third party or outsourced provider carries it out - Leading internal investigations and escalating issues early to the governing bodies - Owning sanctions screening approach, designation matching and any reporting to OFSI - Delivering the annual financial crime return for each entity in scope - Owning and enhancing the BWRA - Conducting regular risk assessments and ensuring appropriate KYC/KYB - Provide financial crime training and guidance across the business, including to the governing functions. - Be our point of contact for financial crime with the FCA, the NCA, the UK Financial Intelligence Unit, OFSI and our auditors. Ideal candidates will have: - Demonstrable SMF17 experience across UCITS, MPS, DFM, financial planning, wealth planning and investment platform business. - Proven experience in a senior AML/compliance role. - Understanding of UK AML regulations, FCA requirements and financial crime risks. - Excellent analytical, investigative and communication skills. - Ability to work independently and influence cross-functional and cross-group teams. - Experience in acquisition and migration works. - ICA or equivalent AML qualification preferred. - Experience with systems such as NorthRow, SmartSearch and Alloy. What we expect from you: - Judgement that you can defend and stakeholder influence. - Written work that holds up against internal and external scrutiny. - Candour with the governing bodies about where the opportunities are, with defensible routes to mitigation. - Team player. We have a flat structure and collaboration is at the heart of everything we do. - Openness, transparency and accountability. Success looks like this at Octopus Money: - You can handle ambiguity. You’re comfortable using judgement to create structure and applying first principles thinking - You’re someone who ‘chases the ball’, rather than just hoping others pick it up. We look for determination, resilience and a healthy dose of optimism - You thrive in a fast paced environment. You’re open to course correct when needed, and challenge yourself and others to About Octopus Money: 🐙 We’re on a mission to become the most recommended financial services business in the UK 🐙 Money shapes every part of life. Yet most people never get the support they need: - Half of Brits reach retirement age without enough to live the life they want - Financial stress is a leading cause of poor mental health - Only 8% of people have access to 1-to-1 financial advice There’s no shortage of information. What people actually need is clarity, guidance and a plan that makes sense for them. That’s where we come in. Octopus Money brings together financial planning, investment expertise and smart technology so people can understand their options and take action with confidence. We help people build a clear plan for their savings, investments and pensions and make investing simple with managed portfolios built by experts. We also support employers who want their teams to feel more secure and in control. Some people need regulated advice. Others need coaching. Many need both at different points in life. Our service adapts to what each person needs. We believe everyone deserves money support that works for real life. We value people who: Make every conversation matter You care about how you make people feel. You communicate clearly, listen well and build trust with customers and colleagues. You want every interaction to move things forward. Move with urgency and focus You like getting stuck in. You care about making progress, not perfection. You stay focused on what matters, learn quickly and find smart ways to keep things moving. Own it You take responsibility for your work and the outcomes it creates. You’re comfortable solving problems, making decisions and tackling challenges head on. You hold yourself to a high standard and want to make a real impact. The interview process: Our interview process typically includes: - An intro call with our talent team - A competency-based interview with the hiring manager - A panel interview with a short task presentation - A conversation focused on how you work and what you value We’ll keep it simple and respectful of your time, and you’ll meet the people you’ll actually work with. Our average process takes around four weeks but we’ll always work around your availability. In return for your contribution we offer a base salary of £95,000 - £110,000 DOE + benefits About Octopus Group: We're part of Octopus Group, a privately-owned business that's spent 25 years doing things differently. Octopus Group builds businesses designed to outlast it, aiming to leave things a little better for the generations that follow. That same instinct runs through the whole group: - Octopus Energy changed how millions of people think about their energy provider, built on fairness, transparency and a genuinely good customer experience - Octopus Legacy is changing how people plan for the end of life - amicable is building a better way to go through divorce - Aurora is rethinking education - Seccl is building the fintech infrastructure behind modern investing - Octopus Investments and Octopus Capital back the ideas and businesses of tomorrow We share that same DNA, doing the same thing in a different corner of people's lives: money. Octopus Group doesn't just talk about entrepreneurship, the group enables it. Springboard, a program open to anyone however junior or senior, lets people pitch an idea to win funding. A number of businesses have been started this way, founded by former Octopus employees. We want people to grow here, to feel supported and to feel proud of the impact they make! You’ll get: - Hybrid working with 3 days in the office each week (Tuesday - Thursday) - 18 days a year working from anywhere (for non regulated roles) - Performance-based bonus - Company pension - Private medical insurance - Enhanced parental leave - Birthday day off - A supportive team who care about what they do - The chance to help people improve their lives Please note, as a regulated business we are required to run background checks for all employees which covers adverse financial and unspent convictions. These will only take place upon a successful job offer. We believe in equal financial education for everybody, no matter their background. The same goes for opportunities within our team. We pride ourselves on building an inclusive working environment where diversity is celebrated. We do not and never will discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. If you require support completing your application please contact [email protected].