Money Laundering & Reporting Officer (MLRO)

• Embedding a culture of very high conduct and compliance standards on AML and of zero tolerance to inadequate / non-compliance to relevant standards and regulations.
• Lead and oversee the Financial Crime Compliance Team, ensuring the effective implementation of the Company’s AML/CFT and sanctions compliance framework and adherence to all applicable regulatory requirements.
• Responsible for ensuring the accuracy, completeness, and integrity of data captured within company systems, identifying and escalating data quality issues and remediation requirements to senior management.
• Responsible for establishing and maintaining a risk-based ongoing monitoring programme, ensuring that high-risk customer relationships are subject to enhanced scrutiny and comprehensive annual reviews.
• Serve as a member of the Executive Committee (EXCO) and the Risk Committee.
• Provide regular reports to the EXCO, Risk Committee and the Board of Directors.
• Representing LifeStar in any discussions / interactions with competent AML authorities and on relevant industry forums and working groups Ensuring that all AML/CFT issues are escalated and addressed through adequately robust action plans including the completion of any remediation exercises
• Ensuring that the LifeStar AML/CDD procedures relating to the onboarding and maintenance of natural or legal persons are reviewed annually or earlier when there are material changes to such policies via legislation
• Implementing and monitoring internal PMLFTR procedures and policies relating to record keeping, reporting, risk assessment, customer due diligence measures and management control systems.
• Ensuring that internal reporting procedures including escalation procedures are in place to enable staff to report any suspicious transactions without hindrance.
• Responsible for reviewing UARs submitted by any staff member and reporting any suspicious transactions directly to the FIAU when warranted.
• Ensuring that staff are familiar with the relevant AML legislation and that regular training is provided in this regard and provide the necessary training including to new staff members.
• Provide annual AML/CFT/Sanctions training to the Board of Directors, Tied Insurance Intermediaries, Agents and Brokers and the Life Operations Team
• Prepare the annual Risk Evaluation Questionnaire
• Coordinate and support internal and external AML/CFT audits, reviews, and inspections, including liaison with external service providers and auditors and ensure that all findings and recommendations are effectively addressed and closed.
• Oversee the governance, effectiveness, maintenance, and ongoing enhancement of AML/CFT compliance systems and tools, including customer due diligence, screening, monitoring, and case management solutions, ensuring appropriate integration with operational systems and regulatory requirements.
• Oversees data quality governance to ensure customer and transactional data captured within company systems is adequate for regulatory and financial crime compliance purposes, reporting deficiencies and remediation requirements to senior management.

Skills, Qualifications & Experience

• 3 to 5+ years working as an MLRO within a regulated sector preferably in Insurance and/or Financial Services.
• Preferably approved, or previously approved (PQ'd) by the MFSA and the FIAU.
• Familiar with the procedures and possesses experience of interacting with the Financial Intelligence Analysis Unit (FIAU).
• Excellent written and verbal communication skills, with the confidence and professionalism to challenge, influence, and provide constructive guidance when required.
• Tertiary level of education and/or holding recognized professional credentials such as CAMS (Certified Anti-Money Laundering Specialist), ICA (International Compliance Association), or equivalent qualifications.
• High personal integrity, independent decision-making authority, and strong stakeholder management skills to liaise with Boards and regulatory bodies.
• Assertive and possesses highly developed communication skills.
• Analytical and able to generate Management Information reports as well as present data in a structured and concise manner to the relevant audience including the Board of Directors.
• Ability to work under pressure and without supervision.

• Career Progression
• Health Insurance
• Life Insurance
• Lifelong Learning
• Private Mental Support