Financial Crime Leadership Recruitment

Financial Crime Leadership Recruitment

Every regulated firm needs an MLRO. As firms grow, they also need a financial crime leadership team around that person: a Head of Financial Crime, a Deputy MLRO, specialists leading sanctions, fraud and customer due diligence. These are the people who turn an MLRO’s accountability into controls that work. SMF Capital recruits financial crime leaders at head-of level and above for banks, payments and e-money firms, crypto-asset businesses, wealth managers and insurers, permanent and interim, with every search led personally by Adrian Lawrence FCA.

The Roles We Recruit

If you are hiring the MLRO itself, see our dedicated MLRO recruitment (SMF17) page. This page covers the senior financial crime team around the MLRO.

Role What it typically covers Often found in
Head of Financial Crime Leads the whole financial crime framework; often also the MLRO in mid-sized firms Banks, payments, wealth, insurance
Deputy MLRO Covers the nominated officer role in the MLRO’s absence; often runs investigations and suspicious activity reporting Most firms with significant AML risk
Head of Sanctions Sanctions screening, policy, licensing and reporting Banks, payments, trade finance, crypto
Head of Fraud Fraud prevention, detection and APP fraud reimbursement processes Banks, payments, consumer credit
Head of KYC / CDD Onboarding, customer due diligence, enhanced due diligence and periodic review Banks, wealth, payments, crypto
Head of Transaction Monitoring Monitoring systems, alert handling and model tuning Banks, payments, e-money, crypto
Financial Crime Compliance Director Oversight and assurance over first-line financial crime controls Larger and dual-regulated firms

We focus on head-of level and above. For analyst and operational financial crime roles, our group practices cover the wider team.

Why Financial Crime Leadership Matters to the Regulator

Financial crime is consistently one of the FCA’s areas of greatest supervisory and enforcement focus. The Money Laundering Regulations require firms to have policies, controls and procedures proportionate to their risks, and the FCA’s Financial Crime Guide sets out what good practice looks like. The MLRO, as SMF17, is personally accountable for oversight of the firm’s anti-money laundering systems and controls, but one person can’t run a financial crime function of any scale alone.

When the FCA looks at a firm’s financial crime controls, it looks at the people as well as the policies: whether the team is large enough, experienced enough and senior enough for the firm’s risks. Under-resourced financial crime teams are a recurring finding in supervisory work and skilled person reviews. Our guide to FCA enforcement trends covers how that plays out.

Structuring a Financial Crime Function as You Grow

Firm stage Typical leadership structure
Newly authorised or small MLRO, often combined with SMF16, sometimes fractional; see who can be your MLRO
Growing Dedicated MLRO, a Deputy MLRO and a lead for KYC or transaction monitoring
Established mid-sized Head of Financial Crime (often the MLRO), with heads of sanctions, fraud, KYC and monitoring
Large or dual-regulated Separate first-line financial crime operations and second-line financial crime compliance, each with its own leadership

The point at which to add each role depends on the firm’s customer base, products, geography and volumes. Payments, e-money and crypto-asset firms tend to need specialist financial crime leadership much earlier than their size would suggest, because their risk exposure grows faster than their headcount. Our pages on payments and fintech and crypto-asset recruitment cover those sectors.

How We Run a Financial Crime Leadership Search

  • Brief against your risk profile. We start from your business-wide risk assessment: customers, products, channels and geographies. These decide which specialisms matter most.
  • Specialist mapping. Sanctions, fraud and transaction monitoring leaders are distinct specialisms. We map candidates with direct experience in the area you need, in a comparable firm.
  • Direct, confidential search. Most strong candidates are in role. We approach them discreetly.
  • Assessment. We test candidates on real scenarios: a suspicious activity decision, a sanctions alert, a backlog remediation. Every shortlisted candidate is interviewed personally by Adrian Lawrence FCA.
  • Checks and references. Regulatory references and background checks start early. Where the role is a certification function, we help you plan the firm’s certification assessment.
  • Through to day one. We stay involved through offer, notice period and onboarding.

What We Look For in Financial Crime Leaders

  • Direct experience in the specialism, not just general compliance
  • Sector experience that matches your customers and products
  • Experience of building or remediating a function, not only running a stable one
  • Sound judgement on suspicious activity reporting and escalation
  • Knowledge of current UK requirements, including PEPs, sanctions and the Money Laundering Regulations
  • Experience of working with technology: screening, monitoring and case management systems
  • The leadership to build a team and the credibility to work with the business

Scenario: A fast-growing e-money institution has a capable MLRO but a growing backlog of transaction monitoring alerts and a regulatory visit approaching. We recruit an interim Head of Transaction Monitoring within two weeks to clear the backlog and retune alert thresholds, then run a permanent search for a Head of Financial Crime Operations. The MLRO now has a team that can show the regulator its controls are working, and the firm has a Deputy MLRO in place for the first time.

Interim Financial Crime Leaders

Interim financial crime leaders are often needed at short notice: to clear a backlog, lead a remediation, cover an absence or prepare for a regulatory visit. Interim heads of financial crime, sanctions or KYC can usually start quickly because, unlike the MLRO, most of these roles don’t need regulatory approval in advance. Our interim and fractional cover page explains how we work, and staffing a section 166 remediation covers the remediation scenario in detail.

How Financial Crime Leadership Differs by Sector

Sector Leadership priorities
Retail and commercial banking Scale: large monitoring operations, fraud reimbursement, sanctions across payments and trade
Payments and e-money Fast onboarding with robust CDD, transaction monitoring at volume, safeguarding links; see EMI and payment institution people
Crypto-assets Blockchain analytics, the travel rule, high-risk customer and geography exposure
Wealth management Source of wealth, PEPs, complex structures and offshore exposure
Insurance Claims fraud, sanctions on cover and payments, and financial crime in distribution chains
Consumer credit Application fraud, identity checks and vulnerable customers; see consumer credit

A financial crime leader who has excelled in one sector may need time to adjust to another. We assess candidates against the specific risks of your business, not a generic financial crime profile, and we will tell you where a candidate’s experience transfers and where it doesn’t.

Financial Crime Recruitment

MLROs and the financial crime leaders around them. Every search is led personally by Adrian Lawrence FCA

Practice Area

Financial Crime Guides


The rules behind the roles.

→ Money Laundering Regulations
→ Sanctions screening


PEPs explained →

Practice Area

High-Risk Sectors


Where specialist leaders matter most.

→ Payments and fintech
→ Crypto-assets


Wealth management →

Practice Area

Cover and Remediation


When you need people quickly.

→ Interim cover
→ s166 remediation


Compliance officer (SMF16) →


Every search is led personally by Adrian Lawrence FCA

Frequently Asked Questions

Do financial crime leaders need FCA approval?

The MLRO (SMF17) does, at firms within the SMCR. Most other financial crime leaders don’t need prior approval, but many fall within the Certification Regime and must be assessed as fit and proper by the firm each year.

Should our Head of Financial Crime also be the MLRO?

Often, in mid-sized firms. In larger firms, the roles may be split so the MLRO can focus on oversight and reporting while the Head of Financial Crime runs operations.

When do we need a Deputy MLRO?

As soon as the volume of internal reports, or the firm’s risk, means the MLRO’s absence would leave a gap. Many firms appoint a deputy well before they need a full team.

How quickly can you place an interim financial crime leader?

Often within one to two weeks for interim roles. Permanent searches typically take three to five weeks to shortlist.

Do you recruit financial crime analysts?

We focus on head-of level and above at SMF Capital. Our group practices recruit the wider team.

About the Author

Adrian Lawrence FCA is the founder of SMF Capital. He is a Chartered Accountant and Fellow of the ICAEW, holds a practising certificate in his own name, and is a former listed-company Finance Director with a BSc from Queen Mary College, University of London. He founded FD Capital in 2018 and has since built a network of five specialist recruitment practices. He leads every SMF Capital search personally, including MLRO and financial crime leadership appointments across payments, crypto-asset and wealth firms. View Adrian’s ICAEW profile.

Building Your Financial Crime Team?

Whether you need a Head of Financial Crime, a Deputy MLRO or an interim specialist to clear a backlog, tell us about your hire. We’ll come back to you the same working day.