BBVA is a global company with more than 160 years of history that operates in more than 25 countries where we serve more than 80 million customers. We are more than 121,000 professionals working in multidisciplinary teams with profiles as diverse as financiers, legal experts, data scientists, developers, engineers and designers.
We are seeking an experienced and highly motivated Deputy Money Laundering Reporting Officer (DMLRO) to support the MLRO in overseeing the anti-money laundering (AML) and counter-terrorist financing (CTF) framework for BBVA London (the branch).
The DMLRO will play a critical role in ensuring ongoing compliance with UK regulatory obligations, particularly those set out in the Money Laundering Regulations 2017, the Proceeds of Crime Act 2002, and FCA Handbook SYSC 6.3.
About the job:
Support the MLRO in the design, implementation, and oversight of BBVA London’s AML/CTF policies, controls, and procedures.
Act as a secondary point of contact for law enforcement and regulatory bodies including the FCA, NCA, and HMRC.
Assist in monitoring the effectiveness of the AML programme through ongoing testing, gap analysis, and risk assessments.
Deliver internal training and awareness programmes to staff at all levels on AML obligations and typologies, sanctions and fraud.
Generate and review monthly transaction monitoring data reports.
Provide oversight of transaction monitoring, sanctions screening, and customer risk rating systems.
Conduct sanctions screening escalations and lead investigations into potential true matches.
Support in the management and documentation of responses to potential breaches of financial sanctions, working closely with the Holding AML team and engaging with the UK Office of Financial Sanctions Implementation (OFSI) as necessary.
Assist with the preparation and filing of Suspicious Activity Reports (SARs) to the UK Financial Intelligence Unit (UKFIU).
Conduct enhanced due diligence (EDD) on high-risk customers including PEPs.
Assist in the investigation of unusual or suspicious activity and escalate matters as appropriate.
Provide compliance advisory support to front-office teams on customer onboarding, transaction monitoring, and sanctions .
Contribute to the annual MLRO report for senior management.
Monitor fraud alerts, working closely with the Financial Crime Hub to assess threats, and provide compliance input on fraud prevention controls.
Maintain up-to-date knowledge of regulatory changes, industry best practices, and emerging financial crime risks.
Deputise for the MLRO in their absence, ensuring continuity of the AML function.
Essential Qualifications & Experience
Minimum 5+ years of experience in AML/financial crime compliance within an FCA-regulated investment bank or financial institution.
Strong working knowledge of the UK regulatory framework, including FCA Handbook (SYSC 6.1.1R, SYSC 6.3), JMLSG Guidance, and AML legislation.
Experience in preparing and submitting SARs, conducting AML investigations, and handling regulatory queries.
Proven ability to manage and interpret AML systems and transaction monitoring tools.
Excellent communication skills and the ability to present complex issues to senior stakeholders and regulators.
Undergraduate degree.
Preferred Attributes
Prior experience as a DMLRO or equivalent function.
Familiarity with cross-border AML issues and international sanctions regimes (e.g., OFAC, EU, UN).
Experience with investment banking AML frameworks is advantageous.
Skills:
Customer Targeting, Empathy, Ethics, Innovation, Proactive Thinking
