Who we are looking for

We are looking for a seasoned compliance leader to serve as the UK MLRO and EMEA Head of Financial Crimes Compliance. This is a high-impact role for someone with deep expertise in UK AML regulations, strong regulatory engagement skills, and the ability to lead across complex, cross-border environments.

This role can be performed in London office, in a hybrid model, where you can balance work from home and office (3 days per week, including Monday and Friday) to match your needs and role requirements.

Scope of the role:

As a UK Money Laundering Reporting Officer you will serve as the SMF17/MLRO for all regulated State Street entities/businesses in the UK.

Registrations with FCA: SMF17

• State Street Bank & Trust Company (UK Branch), (SMF3 as well)

• State Street Global Markets International Limited,

• State Street Trustees Limited,

• State Street Investment Management Limited,

• State Street Unit Trust Managers Limited,

• Managed Pension Funds Limited.

(Collectively referred to for the purposes of this document as “State Street UK”.)

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

I. Responsibilities under SMCR

This role has responsibility within State Street UK for:

• oversight of the establishment and maintenance of effective systems and controls in accordance with the applicable UK laws, regulation and guidance to enable it identify, assess, monitor and manage money laundering risk (SYSC 6.3.1R and 6.3.8R);

• ensuring that a regular framework of appropriate reporting and oversight is established, maintained and reviewed

• reporting to the State Street UK Branch Managers, Legal Entity Boards and related governance committees on anti-money laundering and other financial crime matters

This includes:

• Provide advice and challenge to first line of defence in their creation, maintenance and development of effective systems, controls, policies, procedures and training in order that State Street UK complies with AML / Fin Crime related regulatory and legal requirements

• Ensure the design and execution of the State Street UK business risk assessment is in line with local regulatory requirements and provides a holistic assessment of (1) the financial crime risks to which State Street UK is exposed and (2) the effectiveness of the controls that have been implement to manage those risks

• Ensure that new, or amended UK regulatory obligations, industry guidance and best practice are take into account in the design and establishment of State Street UK’s operating procedures and controls

• Serve as primary contact with UK regulators and relevant authorities in respect of AML, sanctions and counter-terrorist financing risks and issues

• Accountable person for (1) the receipt and evaluation of internal unusual activity referrals that might indicate money laundering or terrorist financing, and, (2) making external Suspicious Activity Reports

• Keep State Street UK senior management and the Compliance/AML functions informed on financial crime risks and emerging issues, via the provision of regular reporting and as a Chair of the UK Financial Crime Sub-Committee

• Represent AML Compliance at, and provide AML, sanctions and counter-terrorist financing expertise to, risk management and other governance/cross functional committees for the UK

• Perform oversight and monitor effectiveness of services that are outsourced and/or provided to the UK by other areas of State Street including headquarters, functional teams and Global AML Center to ensure that they enable the UK to meet its AM and Sanctions regulatory obligations, to include in particular, in respect of the following customer onboarding & ongoing monitoring activities:

  • Transaction Monitoring;

  • Sanctions, PEP and Negative News Screening;

  • Compliance Risk Monitoring Controls Testing;

  • Customer Due Diligence

• Analyse complex anti-money laundering and sanctions matters and provide advice and direction to UK business and Compliance staff

• Assist with the development and execution of communications and training strategies that are designed to maintain the competency of management and staff in the UK in respect of AML and Sanctions compliance.

• Represent UK requirements in policy development discussions and developments across State Street

• Manage and motivate a high performing team and demonstrate the ability to influence and build consensus via dual reporting lines where relevant

• Take a leadership role in industry forums and collaborate with AML professionals outside State Street to address common challenges or changes in regulation

• Relating to State Street Global Advisors Limited, State Street Unit Trust Managers Limited, Managed Pension Funds Limited - maintain an environment that promotes the best interests of clients and, where applicable, delivery by of good outcomes for retail clients in line with the Consumer Duty and monitor that processes and controls are embedded to ensure compliance with the Consumer Duty.

II. EMEA Head Financial Crimes Compliance (excluding SSBI and Branches)

• Lead a team of MLROs and AML subject matter experts in EMEA and maintain an effective regional oversight model to ensure the EMEA region’s AML operating procedures are appropriately aligned, consistent and effective

• Influence and provide advice and direction to the AML Leadership Team on the design and execution of the AML Program in order that it takes appropriate account of the regional regulatory requirements

• Represent the AML Compliance function to provide advice and guidance on AML risks and issues at a regional senior management committee meetings / governance forums.

III. Individual Contributor

• Display a culture of individual ownership of tasks to embed a clear individual sense of accountability in performing the role

• Ensure that the highest level of the Code of Conduct is displayed in your behavior

• Provide appropriate management information as required to support business unit decision making

• Support the ‘Risk Excellence’ culture within the business

• Adhere to limits of delegation and escalation procedures required by your manager so that you comply with internal policies and external regulations

What we value

These skills will help you succeed in this role

• Ability to see relationships between issues at various levels and set priorities

• Competency in addressing issues at senior management levels

• Ability to develop business relationships within and outside of the organization

• Proven interpersonal, communication, project management and leadership skills

• Demonstrated problem solving, managerial and decision-making skills

• Ability to work independently and adapt quickly in handling multiple/evolving tasks as a result of new engagements and/or re-prioritized deadlines

• Ability to influence and build consensus

• Excellent oral and written capabilities with desire to actively participate in industry events and assist with the development of policies

• Capable of building, developing, motivating and leading high-performing teams

• Ability to produce high quality and/or final work product and solutions under strict regulatory or management deadlines

Education & Preferred Qualifications:

• To degree or equivalent level, preferably with a legal background, or significant prior in experience as an MLRO / MLCO or equivalent

• 8+ years of experience in regulatory oversight, anti-money laundering/sanctions/counter-terrorist financing and compliance risk management

• Knowledge of UK laws, regulations and legislative and regulatory processes/expectations

• Experience of managing anti-money laundering programs in the UK

• Extensive background across a broad spectrum of financial services including asset management, banking and trading

We offer:

Core Benefits:

• Pension: Employer Contribution = 9% of Reference Base Salary. Employees can contribute up to 70% of salary into pension, and up to 100% of bonus. Any voluntary contributions will be topped up with an additional 5% by State Street. Employees impacted by the lifetime allowance or annual allowance rules, can receive their pension value via salary instead (less employer NI costs)

• Private Medical Insurance

• Long Term Disability Cover

• 26 days holidays

• Annual season ticket loan

• Long Term disability

• Life Assurance

• Menopause Support

• Emergency Back-Up Care

• Participation in the State Street bonus scheme.
  

Non-Core Benefits:

A large number of benefits are available to be selected during annual enrolment (each April), or as a new joiner via the My Benefits portal. These benefits include:

• Critical Illness insurance (self/ partner)

• Personal Accident insurance (self/ partner)

• Partner life assurance

• Gym membership (anytime benefit)

• Holiday trading

• Dental insurance

• Cycle to work scheme (anytime benefit)

• Travel insurance

• Discounts & cashback portal (anytime benefit)

• Car Salary Sacrifice Scheme (anytime benefit)

• Most benefits are restricted to new joiner and annual enrolment windows, however there are a number of anytime benefits which employees can avail of which are mention above.

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers