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Money Laundering Compliance and Reporting Officer, Assistant Vice President

State Street

State Street is a leading provider of financial services to institutional investors around the world.

Who we are looking for

With Immediate effect we are looking for experienced Compliance professional to act as Money Laundering Compliance Officer (“MLCO”) and Money Laundering Reporting Officer (“MLRO”) for Jersey fund services business regulated entities and client fund entities as necessary. This can either be Fixed-Term or Permanent role.

Why this role is important to us

Jersey Financial Services Commission (“JFSC”) requires roles of MLCO and MLRO to provide independent advice, challenge and oversight in relation to the Jersey Businesses’ systems, controls, policies, procedures, training and awareness to combat money laundering and terrorist financing.

As MLCO, to monitor the Jersey Businesses compliance with legislation in Jersey relating to money laundering and financing of terrorism and AML/CFT codes of practice issued under the Supervisory Bodies Law. As MLRO, to receive and consider internal SARs in accordance with internal reporting procedures. Currently, there are three management entities comprising: State Street Fund Services (Jersey) Limited, State Street Custodial Services (Jersey) Limited, and one client management entity

What you will be responsible for

As Money Laundering Compliance and Reporting Officer, AVP you will


  • Provide regular and detailed reporting on AML and Sanctions risks and issues affecting the Jersey Businesses to the applicable Legal Entity Boards and any other relevant EMEA AML committees / forums (e.g. the EMEA Financial Crime Committee)
  • Respond promptly to requests for information from the JFSC, or JFCU and serve as the primary point of contact with the Jersey authorities in respect of AML and Sanctions related matters
  • Respond promptly to internal unusual activity referrals (“UAR”) and work with the EMEA FIU to determine the appropriate outcome for such referrals, including whether a SAR is to be filed with the JFCU
  • To manage relationships effectively post disclosure to avoid tipping off external parties.
  • Report suspicious activity to the JFCU and maintain records of the investigations, decisions and outcomes in respect of all internal UARs and external SARs
  • Attend and contribute to the regional and global AML and financial crime governance committees, working group and other forums to provide effective oversight of the AML related services that are outsourced to SSBTC, or other State Street group entities
  • Arrange or provide AML/CFT induction programme and ongoing Training to Jersey based employees appropriate to their role
  • Maintain appropriate AML/CFT registers including SAR register, Declined Business Register, AML/CFT Training Register and record of all requests for information from authorities.
  • If a deputy MLRO is appointed, to keep a record of such, to provide support to and routinely monitor their performance, and to consider and determine that SARs are being handled in an appropriate and consistent manner


  • Assist the Jersey Businesses and State Street group develop, maintain and implement a comprehensive Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) Framework (being systems, controls, policies and procedures) applicable to the Jersey Businesses
  • Provide guidance and support to the Jersey Businesses in relation to the design and execution of their AML/CFT business risk assessments
  • Provide guidance and lead input in the compilation of the AML / CFT Compliance Monitoring Plan, which should be designed to include response to the AML/CFT business risk assessments
  • Provide advice to Jersey Businesses and monitor the effectiveness of the systems, controls, policies and procedures to combat money laundering and terrorist financing, including for the effectiveness of measures to raise awareness and training
  • Provide the Jersey Businesses with reporting on the effectiveness of AML/CFT controls, the results of AML /CFT Monitoring tests and of AML/CFT Training provided to Jersey based employees
  • Ensure the Jersey Businesses are aware of and implement adequate risk- based controls and training in response to new regulatory obligations, guidance, or industry best practice
  • Escalate to Management, the Boards and/or State Street group as appropriate any material risk and issues that are identified locally, or which might be relevant to the design, or effectiveness of State Street’s corporate wide AML program
  • To respond promptly to requests for information made by the JFSC or JFCU.
  • To be mindful of the need for independence, and to liaise with management and/or the Boards on this aspect and on whether periodic independent scrutiny should be considered

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

  • Degree or equivalent level, either with a legal background or significant prior experience as an MLRO / MLCO or equivalent
  • Experience in regulatory oversight, anti-money laundering/sanctions/counter-terrorist financing and financial crime compliance risk management
  • Expert knowledge of Jersey’s laws, regulations and legislative and regulatory processes/expectations relating to AML and financial crime
  • Experience of managing financial crime / AML programs and advising on such matters at Board Level
  • Experience in the conduct of financial investigations and reporting suspicious activity in compliance with AML laws and regulations
  • Background across a broad spectrum of financial services including asset management, banking and trading
  • 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
  • AML specific professional qualification is preferred.

We offer

  • Dental Plan Membership
  • Private Health Insurance Scheme
  • Life Assurance
  • Long- Term Disability Insurance
    Employee Assistance Program
    Retirement Benefits
  • Eye Care Benefits

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

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Money Laundering Compliance and Reporting Officer, Assistant Vice President

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Contact us

State Street

State Street is a leading provider of financial services to institutional investors around the world.

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