y and vision of the company, the Global Payments team builds a platform to provide cross-border payment solutions for all ByteDance's products and services, that are growing rapidly worldwide.
We are seeking an experienced MLRO to oversee and manage AML/CTF compliance initiatives with regard to group payment activities in the EEA region. This role requires extensive knowledge of Luxembourg and European AML/CTF compliance regulations. We are seeking candidates who have been approved by the CSSF in Luxembourg. This role will have dual reporting to the CEO of our Luxembourg payments subsidiary and Head of Payments Compliance, EMEA. This position will be located in Luxembourg.
- Ensure the EU Compliance Programme has effective AML/CFT & Financial Sanctions processes and controls which reflect the business and regulatory requirements.
- Reporting to the Board of Directors of our Luxembourg payments entity on relevant AML/CTF & Financial Sanctions matters.
- Facilitate risk-based Know-Your-Customer and Transaction Monitoring programmes to detect unusual activity and investigate and report suspicious activity in accordance with regulatory requirements.
- Act as the main escalation point for suspicions of money laundering and terrorist financing.
- Engage with the CSSF and other EU regulators with regard to financial crime matters and ensure prompt, effective and accurate replies in all such engagements.
- Oversee and manage the operations of the EU AML/CFT Compliance team including training, capacity planning, tracking team/individual objectives and key results.
- Drive a culture of compliance across the business.
- Perform AML/CFT & Financial Sanctions Compliance quality and testing, evaluate process deficiencies, analyze control measures, enhance reporting capabilities and recommend corrective actions while satisfying regulatory and audit commitments.
- Develop sound relationships with business units to ensure that money laundering prevention awareness remains high and to act as primary contact person for money laundering-related activities.
- Assist Board, Senior Management Team and other related teams in ensuring that all recommendations or management actions from various audit reports and quality assurance are properly attended and followed up in a timely manner.
- Collaborate with in-country compliance CCO, regional Head of Compliance, FinCrime compliance and product teams on product design to ensure compliance controls are in place.
- Ensure proper compliance change controls are in place and where issues are identified, work with Compliance Oversight team to ensure remediation plans are implemented properly.
- Monitor EU business adherence to legal and regulatory requirements pertaining to AML/CTF and ensure effective processes to identify, communicate and deliver solutions to avoid potential breaches and/or incidents.
- Represent the Global Payment Compliance team in external meetings with third party channel partners and be able to clearly and effectively articulate all of our payments product offerings and compliance controls.
- Prepare and present compliance reports to senior executives and stakeholders.
- Communicate updates on financial crime compliance initiatives to relevant teams and departments.
- Similar MLRO role in multi-national fintech or financial services industry preferred.
- Prior approval by CSSF as MLRO of Luxembourg-based payments company
- Ability to prioritize effectively and identify key areas of improvement and implementation required from a regulatory point of view.
- Expert on EU payment services and AML/CFT regulations.
- Ability to analyze and interpret complex regulatory frameworks and apply them effectively.
- Ability to deal with multiple regulatory domains (i.e. regulatory licensing, consumer protection, payments, AML/sanctions, privacy, etc ) and to understand how they interact with one-another.
- At least 10 years of experience in AML compliance management, with a strong track record of regulatory engagement.
- Deep understanding of international AML compliance regulations, standards, and best practices.
- Excellent leadership and team management skills.
- Strong analytical and problem-solving abilities.
- Exceptional communication and interpersonal skills.
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