Location: Midlands, hybrid (mainly remote with periodic on-site days)
Commitment: Fractional, 1 day a week
Day rate: £500–£800 per day, depending on experience
Start: As soon as possible
Role
SMF Capital is recruiting a fractional Compliance Officer and Money Laundering Reporting Officer for a small, directly FCA-authorised broker based in the Midlands. The appointed candidate will hold both the SMF16 Compliance Oversight and SMF17 Money Laundering Reporting functions under the Senior Managers and Certification Regime, working one day a week.
The firm is owner-managed and does not need a full-time compliance officer, but it does need a credible, approved Senior Manager who can take personal accountability for compliance and financial crime, give the directors clear and practical advice, and keep the firm's framework in step with FCA expectations. Combining SMF16 and SMF17 in one person is common for firms of this size, and this role is a good fit for an experienced compliance professional who already holds, or is building, a portfolio of fractional appointments.
Hold the SMF16 Compliance Oversight function, with overall responsibility for the firm's compliance framework and its relationship with the FCA.
Hold the SMF17 Money Laundering Reporting function and act as the firm's nominated officer for suspicious activity reports to the National Crime Agency.
Review and maintain the compliance monitoring programme, carry out risk-based monitoring and report findings and remedial actions to the directors.
Keep the firm's business-wide money laundering risk assessment, AML policies and customer due diligence procedures up to date and proportionate.
Oversee Consumer Duty arrangements, including outcomes monitoring, fair value and the annual board report.
Review financial promotions and customer communications before they are issued.
Oversee complaints handling, breach and incident logs, and FCA regulatory returns and notifications.
Maintain the firm's SMCR documentation, including the Statement of Responsibilities, Certification Regime assessments and Conduct Rules training.
Deliver compliance and AML training to directors and staff, and keep the firm briefed on regulatory change that affects its permissions.
Produce an annual MLRO report and regular compliance reports for the board.
Current or previous FCA approval as SMF16, SMF17 or both (or the equivalent CF10/CF11 functions under the Approved Persons regime) is strongly preferred.
Compliance and AML experience gained at an FCA-authorised broker or intermediary, ideally at a small or mid-sized directly authorised firm.
A recognised compliance or AML qualification, such as the ICA Certificate or Diploma in Compliance or AML, CISI or CII equivalent.
Sound working knowledge of SMCR, Consumer Duty, the Money Laundering Regulations 2017 and the relevant FCA Handbook sourcebooks.
Able to satisfy the FCA's fit and proper test and to support the firm's application for your approval.
Practical and proportionate: able to give owner-managers clear, commercial advice and to work independently one day a week.
Based within reach of the Midlands for occasional on-site visits.
Day rate of £500–£800, depending on experience.
One day a week, mostly remote, with flexibility over which day.
A named Senior Manager appointment with genuine influence on a small firm's compliance culture.
Long-term fractional engagement that sits comfortably alongside other part-time compliance or MLRO appointments.
Direct access to the firm's directors, with no layers of management.
