Deputy MLRO

About Allica Bank

Allica is the UK’s fastest growing company - and the fastest-growing financial technology (Fintech) firm ever. Our purpose is to help established SMEs, one of the last major underserved opportunities in Fintech.

Established SMEs are the backbone of local communities - representing over a third of our economy - yet have been largely neglected both by traditional high street banks and modern fintech providers.

Department Description

You will be working within the expanding second line Compliance Department, as part of Financial Crime Compliance team, reporting directly into the MLRO.

You will be part of a core team responsible for successfully delivering second line of defence oversight and advisory within the Bank together with Financial Crime and Compliance colleagues.

Financial Crime consists of Anti-Money Laundering (AML), Fraud, Anti-Bribery and Corruption (ABC), Counter-Terrorism Finance (CTF) and Economic Sanctions.

Role Description

• Lead the development and implementation of the Bank’s financial crime framework, with a particular focus on financial crime prevention, including leading oversight of the Bank’s fraud strategy, managing fraud risks across the business, and providing strong subject-matter expertise on fraud typologies, controls, and emerging threats. This includes driving effective fraud prevention strategies and ensuring alignment with the Bank’s commercial objectives.

• Provide strong leadership on the use of data, management information, AI and analytics to inform financial crime and fraud risk oversight, including the interpretation of complex data sets, development of meaningful MI, and use of insights to drive effective decision-making, risk assessment and continuous improvement of the Bank’s financial crime controls.

• Proven experience working with a UK Small and Medium Enterprise (SME) customer base, gained within either a banking environment or a non‑bank Payment Services Provider, is essential for this role.

• Support the MLRO in overseeing the Bank’s SAR regime, including the review, challenge and approval of SARs (including DAML SARs where required), and acting as a key point of contact with the NCA and law enforcement when deputising.

• Ensure that a commercially-orientated service is delivered, whilst continuing to meet best practice, regulatory and statutory requirements.

• Support the overall strategic direction of the Bank and make a significant contribution to the Bank’s commercial success, whilst promoting the company’s values at all times.

• Assist in the launch of Allica’s products and initiatives, ensuring that financial crime risks are assessed and mitigated, meeting all best practice, regulatory and statutory requirements.

• Support the MLRO and the Chief Compliance Officer in regulatory engagement, including FCA supervisory interactions, information requests, and regulatory reviews relating to financial crime.

Principal Accountabilities

• Operate as a key Financial Crime Subject Matter Expert for the Bank.

• Act as the formally appointed Deputy MLRO, with delegated authority from the MLRO to discharge MLRO responsibilities where required, including the assessment and escalation of suspicious activity and submission of SARs, exercising independent judgement in line with regulatory expectations.

• Assist in the delivery of the regulatory requirements regarding the development and launch of Allica’s products and initiatives, ensuring all aspects of regulation are suitably addressed and risk managed. Working closely with the Product and Programme teams to ensure solutions meet these requirements.

• Provide Financial Crime input to the development of new/upgrade of existing system, including assessing third party solutions/vendors where appropriate.

• Horizon scanning & Subject Matter Expert knowledge on existing and emerging financial crime risks. payments and other relevant regulations and their impact on business’ products and expansion plans.

• Lead the ongoing development, maintenance and challenge of the Bank’s enterprise-wide Financial Crime Risk Assessment (including the Fraud and Anti-Bribery and Corruption) ensuring alignment to business strategy, products, customer risk and regulatory expectations.

• Support the MLRO in the day-to-day activities of the Bank’s Financial Crime Management arrangements.

• Work closely with key stakeholders providing advice, guidance and support regarding Financial Crime matters, particularly on complex structures, transactions, client onboarding risks, as well as in identifying high risk customers, including Politically Exposed Persons (PEPs).

• Lead the development of Bank’s financial crime policies, standards and procedures.

• Support the Bank’s internal and external compliance and regulatory reporting requirements relating to financial crime (including relevant reporting, e.g. MLRO Report).

• Develop and deliver the Bank’s Anti-Money Laundering and financial crime role based training.

• Investigate and report any ‘red flags’, alerts and financial crime concerns effectively.

• Manage, support and develop the Financial Crime team.

General

• Support various Executive Committees and sub-Committees as appropriate.

• Influence the culture within the business, to deliver fair treatment of customers and good customer outcomes.

Personal Attributes & Experience

• Significant experience (typically 8–10+ years) in financial services related role(s), with experience in AML/CFT, sanctions, fraud and ABC oversight.

• Knowledge and experience of business banking for SMEs, sole traders and their activities (key requirement).

• Experience with diverse products preferred i.e. Asset Finance, Invoice Financing, Bridging, Commercial Mortgages, Fiduciary Sector.

• Strong understanding of UK AML, CTF, and sanctions regulations (FCA, PRA, etc.) and experience dealing with high-risk customer profiles.

• Proficiency in interpreting and analysing financial crime data and metrics, with the ability to present findings clearly to senior management.

• Strong interpersonal skills to liaise effectively with first-line colleagues and senior stakeholders on financial crime matters.

• A meticulous approach to owning and refreshing policies, risk assessments and supporting standards

• Understanding relevant financial crime frameworks like JMLSG Guidance or FATF recommendations and how these rules can be applied under the Bank’s financial crime framework..

• Credible stakeholder engagement skills to align with our organisational values and behaviors

• Ability to manage multiple tasks simultaneously on tight deadlines

• Ability to work independently with a high level of responsibility in a fast paced environment

• Extensive analytical experience with PowerPoint, Excel, Word, and other presentation tools

• An industry recognised qualification in Financial Crime would be beneficial

Working at Allica Bank

At Allica Bank we want to ensure our employees have the right tools and environment in which to succeed in their role and in support of our customers.

Our employees are at the heart of everything we do, so our benefits are designed with you in mind:

• Full onboarding support and continued development opportunities

• Options for flexible working

• Regular social activities

• Pension contributions

• Discretionary bonus scheme

• Private health cover

• Life assurance

• Family friendly policies including enhanced Maternity & Paternity leave

Don’t tick every box?

Don’t worry if you don’t have all the skills or requirements listed on the job description. If you think you’ll be a good fit, we’d still love to hear from you!

Flexible working

We know the ‘9-to-5’ isn’t right for everyone. That’s why Allica Bank is fully committed to flexible and hybrid working. Please let us know what is best for you and, if we can, we will do our best to accommodate.

Diversity

We’re a diverse bunch here at Allica, with all kinds of experiences, backgrounds and lifestyles. Our openness and differences make us stronger, and we want everybody to feel comfortable bringing as much of themselves to work with them as they like.