Deputy Money Laundering Reporting Officer

About Clear Street:

Clear Street is modernising the brokerage ecosystem. Founded in 2018, Clear Street is a diversified financial services firm, replacing the legacy infrastructure used across capital markets.

We started from scratch by building a completely cloud-native clearing and custody system designed for today’s complex, global market. Clear Street’s proprietary prime brokerage platform adds significant efficiency to the market, while focusing on minimising risk, redundancy, and cost for clients. Our goal is to create a single source-of-truth platform for every asset class, in every country, and in any currency.

By combining highly-skilled product and engineering talent with seasoned finance professionals, we are building the essentials to compete in today’s fast-paced markets.

The Role:

The DMLRO will work with the MLRO to develop and manage the CSUK financial crime control framework and function, ensuring compliance with all applicable laws and regulations including those covering money laundering, sanctions, terrorist financing, proliferation financing, bribery & corruption, fraud, market abuse and tax evasion.  This role will encompass all aspects of the control framework, incorporating policy development, advisory, training, monitoring, investigations, reporting and client, counterparty and regulatory engagement. The function holder will take a lead role in managing the software that is used as part of the control program, including vendor management and liaison. The function holder will also be responsible for driving a risk-based approach to completing counterparty due diligence incorporating onboarding, refresh and trigger reviews. 

This is an excellent opportunity for those wanting to contribute within a fast-paced financial technology environment. The right candidate will have the opportunity to make a big impact through building and shaping this capability across the business. 

Responsibilities:

• Develop and maintain the suite of financial crime policies and procedures in line with relevant legislative and regulatory requirements.
• Keep up to date with financial crime legislation, regulation and industry best practice and initiatives and keep others abreast of relevant changes.
• Oversee counterparty due diligence (CDD) and enhanced due diligence (EDD) processes covering a variety of entity types including clients, brokers, venues and vendors.
• Conduct and/ or oversee financial crime risk assessments.
• Help prepare the annual financial crime training program, deliver specialized content face to face.
• Monitor customer activity for suspicious transactions and escalate concerns.
• Conduct and / or oversee investigations into suspicious activity and other financial crime concerns; make reports to relevant authorities where necessary.
• Assist with regulatory examinations and audits.
• Coordinate with regulators and auditors on financial crime-related matters.
• Prepare and provide documentation to support the effectiveness of the financial crime program.
• Provide guidance on the financial crime implications of new business initiatives.
• Promote a strong culture of compliance.
• Complete the annual FCA Financial Crime Report.
• Complete the annual HMT sanctions report.
• Prepare regular management information.

Skills required:

• Ten years of experience in a financial crime role within the wholesale financial services industry.
• Strong understanding of UK and international financial crime legislation, regulation and best practice, including the Money Laundering Regulations, the FCA Financial Crime Guide for Firms, JMLSG, Wolfsberg documentation etc.
• Detailed knowledge of the CDD requirements for onboarding complex and high-risk clients, including offshore entities, hedge funds, unregulated corporates, politically exposed persons and oligarchs.
• Experience with conducting investigations, preparing SARs and interacting with regulators and law enforcement agencies.
• Excellent analytical, problem-solving, and decision-making skills.
• Strong written and verbal communication skills.
• Proficiency in Microsoft Office Suite.
• Confidence to deal with colleagues at all levels of the organisation and get buy-in when requiring in order to enhance processes and procedures. 
• Ability to speak a foreign language desirable.
• Experience of working with financial crime control software such as World-Check and Actimize.
• Experience with data analysis and reporting, including developing internal exception reports and using Excel pivot tables and v-lookups.
• Degree in Business, Finance, Law, Mathematics or a related field.
• (Preferred) Professional qualifications in financial crime management preferred such as CAMS certification.

We Offer:

At Clear Street, we offer competitive compensation packages, company equity, pension, gender neutral parental leave, and full medical and dental insurance. Our belief has always been that we are better as a business when we are all together in person. As such, we are requiring employees to be in the office a minimum of three days per week.

Our top priority is our people. We’re continuously investing in a culture that promotes collaboration. We help each other through challenges and celebrate each other's successes. We believe that modern workplaces succeed by virtue of having high-performance workforces that are diverse — in ideas, in cultures, and in experiences. We put in the effort to make such a workplace a daily reality and are proud to be an equal opportunity employer.

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