Money Laundering Reporting Officer

Reports To: CLCO
Department: Legal & Compliance
Location: Gibraltar
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The Money Laundering Reporting Officer is a key senior role within the Legal, Risk and Compliance team and is responsible for ensuring that BetVictor’s business has systems, controls and procedures in place to prevent financial crime and remove the risk of money laundering or terrorist financing within its business. This will involve developing, coordinating and monitoring the effectiveness of AML controls applicable for its licensed entities in Gibraltar, Ireland, Malta and other territories where BetVictor may hold gaming licenses.

The MLRO will be responsible for providing sound regulatory advice to BetVictor’s C-Level and Board of Directors on all matters relating to AML, including, but not limited to: customer suspicious activity; fraud; bribery & corruption; sanctions/embargoes; and countering terrorist financing.

The role will be directly accountable as the nominated officer pursuant to the requirements of the Money Laundering Regulations and Proceeds of Crime legislation, as well as any requirements established by the relevant Gambling Commissions. They will also take a proactive role in assessing business compliance, identifying potential weaknesses and initiating measures to rectify them

Key Responsibilities/Duties:

  • Accountable to the Executive, the Board of Directors, and external regulators for ensuring adherence to regulations relating to money laundering and terrorist financing, and holding the function as a Nominated Officer;
  • Identify areas of money laundering risk, developing and implementing corrective action plans for resolution of problematic issues, as well as launching initiatives to counter those risks;
  • Develop a detective and preventive control framework and installation roadmap in accordance with the company’s conduct risk framework;
  • Review and recommend any changes to the current internal practices, measures, procedures and controls relevant to the prevention of money laundering and terrorist financing;
  • In collaboration with the Executive, review and sign-off customers deemed ‘higher risk’ by BetVictor’s risk systems to ensure any risks presented by the customer’s profile are managed and mitigated in-line with P&Ps;
  • Keep abreast of regulatory changes and conduct GAP analyses of existing controls to identify changes necessary to the company’s AML approach and controls;
  • Produce the annual MLRO report for the board and quarterly periodic reports;
  • Receive and review Suspicious Activity Reports (SARs), and submit to the necessary reporting systems (NCA, Themis etc..) systems as necessary;
  • Review and update AML/TF and SAR sections of the relevant business policies and procedures (P&Ps) and put in place remediation plans for P&P issues that come up from time to time;
  • Ensure accurate and effective maintenance of the formal record keeping within the AML and KYC control frameworks;
  • Co-ordinate the production of regular Senior Management and Board reports and departmental regulatory updates;
  • Work with the Risk Manager to ensure the AML/TF risk assessment is updated & maintained and the obligations of the National Risk Assessment(s) ( in all regions) are sufficiently reflected in our internal P&Ps;
  • Update Learning and Development training material to ensure they are updated to reflect regulatory/legal changes. Monitor client on-boarding processes and ensuring staff are fully informed and trained with regards to KYC and EDD requirements;
  • Attend regulatory, technical and external compliance meetings and forums and produce summary papers/minutes; and
  • Collaborate and liaise with the departmental leads, internal departments, regulators, authorities and external service providers as appropriate to resolve compliance issues.

Person Specification, Skills, Experience & Qualifications:

  • Strong practical experience working in a regulated gambling operator or financial services business as the nominated officer, or comparable background in financial crime enforcement;
  • Previous experience working with law enforcement agencies;
  • Strong communication skills with the ability to communicate and gain the respect of all levels of management and staff;
  • Detailed knowledge of the 4th and 5th EU Money laundering Directive, UK and Gibraltar Money Laundering Regulations, and the relevant licensing authority guidance notes;
  • Appreciation of the mechanics & workings of the law enforcement agencies & courts;
  • Strong administrative skills;
  • To support the Director of Compliance and Director of Payments to the highest standards in all matters AML/TF/POC related;
  • Strong attention to detail to ensure all documentation, reports and corporate filings are accurate;
  • Knowledge of AML Laws and Regulation / FATF Recommendations in the UK and, ideally, major European markets;
  • Ability to work under pressure and in a fast-paced environment;
  • Fluent English if not a native speaker;
  • Strong leadership skills with a track record of delivering on strategy and key initiatives;
  • Strong sense of what's right and wrong and willingness to challenge and escalate as required;
  • An ability to champion and actively support cultural change.

Relocation Package:

BetVictor will take care of all your relocation requirements including booking flights, organising airport transfers, paying for movement of additional belongings and providing rental assistance for the first three months.

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    BetVictor is an equal opportunity employer.