SMF17 Money Laundering Reporting Officer: London Firms
SMF Capital is speaking to approved and first-time MLROs for SMF17 appointments across London. Roles are permanent, interim and fractional, at payment and e-money firms, crypto-asset businesses, investment firms and banks.
London / hybrid
Permanent, interim and fractional
SMF17 MLRO
Payments, crypto, investment and banking
The Opportunity
The MLRO is one of the most in-demand Senior Manager Functions in London. The SMF17 role carries personal accountability for the firm's anti-money laundering systems and controls, and at smaller firms it's often combined with SMF16 Compliance Oversight.
We work with London firms at every stage: businesses preparing for FCA authorisation, fast-growing payments and crypto-asset firms, investment managers and bank branches. Some roles suit a full-time MLRO, and others are fractional arrangements for smaller firms. We discuss specific firms with candidates in confidence before any introduction.
What the Role Involves
Holding the SMF17 function and acting as the firm's nominated officer for suspicious activity reporting to the National Crime Agency.
Owning the firm's financial crime framework, including the business-wide risk assessment, customer due diligence, transaction monitoring and sanctions screening.
Producing the annual MLRO report and reporting clearly to the board on financial crime risk.
Working with first-line teams on onboarding and monitoring, and leading regulatory engagement on financial crime.
Where combined with SMF16, overseeing the wider compliance function and monitoring programme.
Who We Are Looking For
Current or previous SMF17 approval, or a deputy MLRO or head of financial crime ready for their first approval.
Hands-on experience in a relevant sector, such as payments and e-money (including safeguarding), crypto-assets, investment management or banking.
Strong knowledge of the Money Laundering Regulations, the sanctions regime and the FCA's financial crime expectations.
Relevant qualifications, such as ICA diplomas or ACAMS, are welcome but not essential.
We're particularly keen to hear from MLROs open to fractional work across more than one firm, and from those who have supported a firm through FCA authorisation.
Pay, Terms and Approval
Permanent packages are benchmarked against the London market. Fractional and interim arrangements are agreed on a day-rate or retainer basis according to the time commitment. For current benchmarks, see the SMF salary guide.
The successful candidate will need FCA approval before taking up the function. We manage the process alongside the firm, including regulatory references and the Statement of Responsibilities.