Regulation and Compliance Office Ltd (RACO) is a specialist compliance consultancy supporting law firms across England and Wales. We provide practical Anti-Money Laundering (AML), regulatory compliance and risk management services, enabling our clients to meet their legal obligations while allowing their fee earners to focus on delivering exceptional legal services.
Due to continued growth, we are looking for an experienced AML & Enhanced Due Diligence (EDD) Officer to join our expanding Compliance Team.
This is an excellent opportunity for someone with proven experience in Enhanced Due Diligence (EDD), Source of Funds (SOF), Source of Wealth (SOW), Client Due Diligence (CDD), and AML compliance within a law firm, legal services, or regulated financial services environment.
The Role
You will be responsible for managing complex client due diligence matters on behalf of law firms, ensuring compliance with the Money Laundering Regulations 2017 and Legal Sector Affinity Group (LSAG) guidance.
Working as part of our specialist compliance team, you will liaise directly with solicitors, clients and third parties to obtain, assess and verify information, providing practical support on AML compliance matters.
Key Responsibilities
- Conduct Client Due Diligence (CDD) and Enhanced Due Diligence (EDD) in accordance with the Money Laundering Regulations 2017.
- Review and assess complex Source of Funds (SOF) and Source of Wealth (SOW) evidence.
- Carry out electronic AML, sanctions, PEP and adverse media checks.
- Identify and verify Ultimate Beneficial Owners (UBOs), Persons of Significant Control (PSCs) and complex corporate ownership structures.
- Complete Client and Matter Risk Assessments (CMRAs).
- Assess high-risk matters and escalate where appropriate to the Compliance Manager or MLRO.
- Liaise professionally with clients and law firms to obtain additional information and supporting documentation.
- Maintain accurate and comprehensive compliance records.
- Ensure all work is completed within regulatory requirements and internal service level agreements.
- Keep up to date with changes to AML legislation, LSAG guidance and best practice.
About You
We're looking for someone who has:
- Previous experience within a law firm, legal compliance consultancy or regulated financial services environment.
- Strong practical knowledge of AML legislation and the Money Laundering Regulations 2017.
- Proven experience reviewing Enhanced Due Diligence (EDD) cases.
- Extensive experience assessing Source of Funds (SOF) and Source of Wealth (SOW) evidence.
- Experience conducting KYC, CDD and ongoing monitoring.
- A good understanding of corporate structures, beneficial ownership and risk assessments.
- Excellent analytical skills with exceptional attention to detail.
- Strong written and verbal communication skills.
- The ability to manage multiple cases whilst working to tight deadlines.
- A professional, organised and confidential approach to work.
Desirable
- Experience using electronic AML verification platforms.
- Previous experience working with solicitors or legal practices.
- Experience supporting or working alongside an MLRO or Compliance Team.
If you have a passion for AML compliance and enjoy working on complex due diligence matters, we'd love to hear from you.
Pay: Up to £35,000.00 per year
Work Location: In person
