Money Laundering Reporting Officer (MLRO) at Moniepoint Incorporated (Remote)

Job Title: Money Laundering Reporting Officer (MLRO)

About the Role

• The Money Laundering Reporting Officer (MLRO) is responsible for ensuring that the organization complies with legal and regulatory obligations concerning money laundering prevention. 
• The MLRO manages and oversees the company’s anti-money laundering (AML) policies and procedures, assesses risk, performs investigations, reports suspicious transactions, and ensures that the business follows all relevant laws, regulations, and internal standards.
• This role requires a highly responsible and vigilant professional capable of safeguarding the financial institution from risks related to money laundering and ensuring adherence to regulatory frameworks. 
• The MLRO plays a critical part in preventing illicit financial activities while maintaining the reputation and integrity of the organization.

Key Responsibilities

• Develop, implement, and maintain the organization’s anti-money laundering (AML) policies, procedures, and controls.
• Ensure compliance with circulars, directives and rules of Regulators (CBN, NDIC), Law Enforcement Agents (EFCC, Police, NFIU, DSS etc) as well as the local laws.
• Monitor and interpret any changes in AML laws and regulations, ensuring timely adaptation of company procedures.
• Perform regular AML risk assessments for the company, identifying and assessing potential risks associated with money laundering and terrorist financing.
• Evaluate and monitor the customer base for high-risk clients and activities.
• Implement effective risk management strategies, particularly with regard to customer onboarding, monitoring, and reporting.
• Monitor and investigate suspicious activities or transactions and evaluate whether they are indicative of money laundering or other financial crimes.
• Prepare and submit Suspicious Activity Reports (SARs) and Suspicious Transaction Report (STR) to the NFIU.
• Maintain confidentiality regarding any ongoing investigations or reports filed.
• Develop and deliver training programs for staff across all departments to raise awareness about AML regulations, policies, and procedures.
• Ensure that AML records are properly kept, including transaction monitoring logs, due diligence records, SAR/STR filings, and internal reports.
• Generate regular reports for senior management on AML compliance and suspicious activity.
• Maintain up-to-date records and documentation to facilitate regulatory audits or inspections.
• Oversee the implementation and monitoring of Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and Know Your Customer (KYC) procedures.
• Review high-risk client profiles and transactions to ensure compliance with AML regulations.
• Ensure accurate and comprehensive client records are maintained for regulatory reporting and auditing purposes.
• Act as the point of contact between the organization and external regulators, law enforcement agencies, and other relevant bodies.
• Respond to requests for information and cooperate with investigations regarding suspected money laundering activities.
• Ensure the timely filing of reports to the regulatory authorities and the appropriate handling of legal issues arising from investigations.
• Oversee internal and external audits related to AML compliance, ensuring that findings are addressed and corrected promptly.
• Continuously monitor internal processes and controls to identify potential weaknesses and implement corrective actions.
• Review and update the company’s AML policies and procedures regularly, ensuring they reflect evolving legal and regulatory requirements.
• Report to senior management on the effectiveness of AML controls and provide recommendations for improvement.

Requirements

• Significant experience (typically 10+ years) in a financial institution, regulatory body, or similar setting, with a focus on anti-money laundering compliance.
• Strong knowledge of money laundering regulations, KYC, CDD, and EDD procedures.
• Proficiency in AML software and transaction monitoring systems.
• Excellent analytical, investigative, and problem-solving skills.
• Proficiency in AML software and transaction monitoring system to assess and mitigate financial risks.
• In-depth knowledge of financial products and services, especially in digital banking space
• Strong knowledge of money laundering regulations, KYC, CDD, and EDD procedures.
• Proficiency in AML software and transaction monitoring systems.
• Excellent analytical, investigative, and problem-solving skills.

What We Can Offer You

• Culture -We put our people first and prioritize the well-being of every team member. We’ve built a company where all opinions carry weight and where all voices are heard. We value and respect each other and always look out for one another. Above all, we are human.
• Learning – We have a learning and development-focused environment with an emphasis on knowledge sharing, training, and regular internal technical talks.
• Compensation – You’ll receive an attractive salary, pension, health insurance, plus other benefits.

Application Instructions:

The application deadline is on Not Specified Qualified and interested candidates can: Click here to apply online. It is important to visit the official website (link found below) for detailed information on how to apply successfully for this vacancy.

Website:
Official Job Website: https://www.moniepoint.com

What to expect in the hiring process 

• A preliminary call with one of our recruiters. 
• An interview with our Chief Compliance Officer.
• An interview with a member of the Executive Team