Compliance and financial crime roles

MLRO

Money Laundering Reporting Officer

The named person who oversees a UK firm’s anti-money laundering controls and its suspicious activity reporting.

You might consider one when

• You are applying for UK authorisation or registration and need to name the person who will hold the role.
• Your MLRO is leaving and the role cannot sit empty.
• A founder or COO has been covering the role and the business has outgrown that.

Often with

Head of Compliance · Head of Financial Crime

BSA Officer

Bank Secrecy Act Officer

The person a US firm designates to run its anti-money laundering program day to day.

You might consider one when

• You are launching in the US and applying for money transmitter licences.
• A banking partner wants a named US lead for anti-money laundering.
• A fractional or outsourced officer is being replaced with a permanent hire.

Often with

Chief Compliance Officer · Head of US Compliance

CCO

Chief Compliance Officer

The most senior compliance leader in the business, usually reporting to the CEO or the board.

You might consider one when

• Compliance has grown past a single team and needs a seat at executive level.
• You operate in several countries and want one person accountable across all of them.
• Investors, regulators or banking partners are asking who owns compliance.

Often with

BSA Officer · MLRO

Head of Compliance

Head of Compliance

Builds and runs the compliance function, often as the first senior compliance hire.

You might consider one when

• You are making your first senior compliance hire.
• You are preparing a licence application and need someone to own it.
• A new market needs its own lead, such as a Head of US Compliance.

Often with

MLRO · Regulatory Manager

Head of Risk & Compliance

Head of Risk and Compliance

One leader across both risk and compliance.

You might consider one when

• The business is not yet large enough for separate heads of risk and compliance.
• A regional operation needs a single senior lead on the ground.
• You are replacing an interim or fractional leader with a permanent one.

Often with

BSA Officer · MLRO

Head of Financial Crime

Head of Financial Crime

Leads the work on money laundering, sanctions and often fraud.

You might consider one when

• Financial crime work has outgrown a compliance generalist.
• Transaction volumes or new products have raised your exposure.
• Your MLRO needs someone running the team day to day.

Often with

MLRO · Head of Fraud

Deputy MLRO

Deputy Money Laundering Reporting Officer

Covers for the MLRO and shares the caseload.

You might consider one when

• One person holds the MLRO role with no cover for leave or a departure.
• Reporting volumes have grown beyond what one person can review.
• You want a successor already in the building.

Often with

Financial crime manager · Head of FIU

AMLCO

Anti-Money Laundering Compliance Officer

A title used in parts of the EU for the named anti-money laundering officer.

You might consider one when

• You are setting up a licensed entity in an EU country.
• The local regulator or board expects the officer to be based in that country.
• Your group MLRO cannot cover the EU entity from abroad.

Often with

Head of Compliance, EU

Chief AML Officer

Chief Anti-Money Laundering Officer

The senior executive for anti-money laundering, often shortened to CAMLO. The title is common in Canada and at larger institutions.

You might consider one when

• Anti-money laundering is large enough to need its own executive alongside the CCO.
• You are launching or scaling in Canada.
• Several regional officers need one leader above them.

Often with

Chief Compliance Officer

Head of FIU

Head of the Financial Intelligence Unit

Leads the team that investigates alerts and suspicious activity.

You might consider one when

• Alerts are backing up and investigations take too long.
• Investigations are spread across teams with no single owner.
• You are bringing investigations in-house from an outside provider.

Often with

Deputy MLRO · Head of Financial Crime

Head of Fraud

Head of Fraud

Leads fraud prevention, detection and response.

You might consider one when

• Fraud losses are rising as volumes grow.
• You are launching a product with new fraud exposure, such as cards or instant payments.
• Fraud sits inside the financial crime team and needs its own lead.

Often with

Head of Financial Crime

Regulatory Manager

Regulatory Manager

Handles licensing, regulatory change and day to day contact with regulators.

You might consider one when

• You have licence applications in progress in one or more markets.
• New rules are arriving faster than the compliance team can track them.
• Your head of compliance needs someone to own regulator correspondence.

Often with

Licensing Manager · Head of Compliance