Money Laundering Reporting Officer - Sweden at Wise

Stockholm, Stockholm County, Sweden

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, FintechIndustries

Requirements

Minimum of 7 years of experience in AML/CTF compliance, preferably within the financial services or payments industry
Proven track record of successfully managing regulatory relationships and compliance programs
In-depth knowledge of Swedish and EEA AML/CTF regulations, and an understanding of the latest trends and challenges in the field
Strong analytical and problem-solving skills with attention to detail in reviewing complex transactions and identifying red flags
Excellent communication and interpersonal skills to effectively interact with regulatory authorities, internal teams, and external stakeholders
Proficiency in data analysis tools
Ability to work independently, prioritize tasks, and manage multiple projects simultaneously
Fluent in Swedish and English; additional language skills are advantageous
Bachelor's degree in Finance, Law, Business Administration, or a related field. Advanced degrees or certifications in compliance, such as CAMS or ICA, are highly desirable

Responsibilities

Ensure the institution's operations comply with Swedish, relevant EEA, and International AML/CTF laws and regulations
Serve as the main point of contact with regulatory bodies in Sweden and law enforcement agencies concerning AML/CTF issues, including the submission of suspicious activity reports (SARs) and other related reports
Implement and maintain a comprehensive AML/CTF risk management framework to identify, monitor, and mitigate potential risks
Conduct regular risk assessments and audits to ensure the effectiveness of the AML/CTF controls in place
Develop, maintain and implement AML/CTF policies and procedures to ensure compliance with legal and regulatory changes
Collaborate with senior management to integrate AML/CTF considerations into the strategic development of new products and services
Prepare and submit detailed AML/CTF reports to senior management and relevant authorities, summarising key findings, trends, and compliance metrics
Design and deliver regular training programs for employees, fostering a culture of compliance and raising awareness about AML/CTF obligations
Ensure all staff understand their responsibilities under the AML/CTF framework and know how to report suspicious activities
Collaborate with internal teams, such as compliance, legal, and operations, to ensure a coordinated approach to AML/CTF compliance
Maintain open lines of communication with European and global MLROs to share best practices and stay informed of industry developments

Skills

Key technologies and capabilities for this role

AMLCTFRegulatory ComplianceRisk AssessmentRisk ManagementSARsPolicy DevelopmentAuditsSwedish RegulationsEEA Regulations

Questions & Answers

Common questions about this position

Is this role remote or on-site?

This is an on-site position in Sweden.

What experience is required for the Money Laundering Reporting Officer role?

A minimum of 7 years of experience in AML/CTF compliance is required, preferably within the financial services or payments industry, along with a proven track record of successfully managing such compliance.

What are the main responsibilities of the MLRO?

The role involves ensuring regulatory compliance with AML/CTF laws, conducting risk assessments, developing policies, preparing reports, delivering training, and collaborating with teams and authorities.

What is the salary for this position?

This information is not specified in the job description.

What makes a strong candidate for this MLRO role at Wise?

Candidates with at least 7 years of AML/CTF compliance experience in financial services or payments, a proven track record in managing compliance, and skills in risk management, regulatory communication, and policy development will stand out.

Wise

Facilitates low-cost international money transfers

About Wise

Wise focuses on international money transfers, providing a low-cost alternative to traditional banks. It uses a peer-to-peer system to match transfers between users in different countries, which helps reduce fees and offers better exchange rates. Customers pay a small, transparent fee for each transaction, and Wise also offers a multi-currency account for managing funds in various currencies. The company aims to maintain high performance and reliability while ensuring transparency and trust with its users.

London, United KingdomHeadquarters

2011Year Founded

$385.5MTotal Funding

IPOCompany Stage

Fintech, Financial ServicesIndustries

5,001-10,000Employees

Benefits

PTO & annual leave

Work from home flexibility

Parental leave

Medical insurance plans

Health & wellbeing discounts

Pension & retirement plans

Social events

Relocation support

Risks

Increased competition from banks integrating Swift services could challenge Wise's market share.

Regulatory scrutiny following Stenn's collapse may increase pressure on Wise.

Bitcoin's low transaction fees could attract customers away from Wise's services.

Differentiation

Wise offers a peer-to-peer system for low-cost international money transfers.

The company provides a multi-currency account for ex-pats, freelancers, and travelers.

Wise's transparent fee structure attracts customers seeking cost-effective money transfer solutions.

Upsides

Partnership with Morgan Stanley enhances Wise's cross-border settlement capabilities.

Expansion into India's remittance market presents significant growth opportunities for Wise.

API integrations offer additional revenue streams and market penetration for Wise.

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