MLRO & Senior Financial Crime Manager

Job Description

Please note this position is being recruited under the SMCR regime. This position can be located in either our London or Potters Bar, Hertfordshire office.Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation. Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues. Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers. Job Summary Reporting into the Director of Compliance and Regulatory Affairs, provides leadership for all activities relating to the prevention of financial crime within our four UK based legal entities that form Canada Life UK, including anti-money laundering, fraud,sanctions, and counter-terrorist financing. Ensuring high quality anti-financial crime strategy, policies, standards, procedures, monitoring and oversight that ensure that Canada Life complies with relevant regulations and best practices in a risk-based manner.This role is accountable as MLRO for the UK based legal entities that form CLUK. This role represents the UK on the Global Financial Crime practice group, leveraging knowledge and expertise across our Group as needed. This role works closely with the Riskand Compliance Business Partners to share knowledge and develop capability and ensure appropriate outcomes in our business. This role also works closely with the Head of Compliance Effectiveness and Oversight, and the Head of Compliance Assessment to ensurewe have suitable oversight of activities preventing financial crime. What Youll Do Risk and Compliance Leadership Team Member of the Risk and Compliance leadership team supporting the Director of Compliance in leading the Risk and Compliance function, the engagement with the full range of stakeholders, including regulators, and in providing excellent quality, appropriate andrelevant reporting to the Executive and CLUK boards and committees. People Leadership Recruit, lead and manage a team of Financial Crime professionals in line with our corporate values, and, in the achievement of the business and individual objectives, including the provision of commercial and pragmatic operational, regulatory and technicalcompliance and non-financial risk guidance. This includes contributing to the skills and knowledge matrix to support the wider team of compliance and non-financial risk colleagues, so that there is resilience in the overall teams technical expertise and competence. Risk Management Framework Champion the three lines of defence model for risk management. Ensure the implementation of the Great West Life ERM framework across the relevant divisions overseeing compliance with relevant regulations and that they meet the wider expectation of regulators, and follow good practice relative to peer companies. This willinclude implementation, embedding and maintenance of: • Risk strategy, consistent with the business strategy and business objectives • Risk universe • Risk appetite framework • Risk and Compliance policies • Risk and Compliance oversight and assurance, including regulatory and reputational • Risk identification, assessment, measurement, measurement and reporting • Risk and Compliance mandate requirements Money Laundering Reporting Officer and Financial Crime Prevention Activities • Ensures the execution of a robust financial crime prevention strategy, aligned with global and regional regulatory requirements. • Maintains appropriate Financial Crime/AML/CFT policies and procedures in line with regulatory requirements. • As issues or challenges or opportunities emerge, provide leadership on Financial Crime and AML compliance matters, including ensuring appropriate remediation. • Oversees PEP and Sanctions checking, transaction monitoring and other aspects of financial crime controls to identify AML/CTF and financial crime risks. • Ensures that the team actively participate in AML, CTF and Financial Crime inquiries in connection with broader regulatory risk assessments, compliance assessments, and audits. • Ensures timely and accurate reporting of suspicious transactions to the relevant regulatory authorities. And is the main point of contact for the regulatory authorities, law enforcement agencies and other external stakeholders regarding AML/CTF/financialcrime matters. • Ensures that the team works closely with the business and wider pool of risk and compliance colleagues in dealing appropriately with suspicious activity reports. • Works to ensure a robust understanding of the key controls across the business that enables us to work within our financial crime risk appetite and where improvement priorities lay. Oversight and Monitoring of the Prevention of Financial Crime in 1LOD • Maintain a program to embed understanding AML/CTF and Financial Crime into everyday business processes, including communication and training (e.g. AML and Financial Crime - compliance mandated training for all colleagues). • Works closely with the Head of Compliance Effectiveness and Oversight and the Head of Compliance Assessment to ensure that there is effective risk-based oversight of activities in 1LOD. • Work collaboratively with business and operational stakeholders to develop and implement remediation plans. • Build relationships with key 1LOD leaders responsible for key controls for the prevention of financial crime in way that is supportive/complementary of our risk and compliance team structure. Reporting • Lead submission of Financial Crime and AML reports to Committees as needed. • Produce a high quality monthly report on activity (including risk markers), issues and risks relating to AML, CTF and Financial Crime for review and discussion within Risk and Compliance, and to support 1LOD engagement. The reporting should also considerthe maturity of the 1LOD in the prevention of Financial Crime. Knowledge Management and Horizon Scanning • Oversee, lead and deliver ongoing training and development programmes to enhance employee awareness of financial crime risks and prevention measures. Champion Financial Crime knowledge within the Risk and