UK role:Holds SMF17 (taking on the Money Laundering Reporting Officer duties for the UK) * Manages UK Financial Crime Team with respect to UK business / activity * Monitors the effectiveness of financial crime systems & controls and regularly report to senior management * Nominated Officer for reporting suspicious activity to the National Crime Agency
Description of the Business Line or Department
The key objective of the Financial Crime Team is to prevent Kleinwort Hambros breaching any law or regulation relating to financial crime by providing guidance to the Kleinwort Hambros Group on anti money laundering, countering terrorist financing, tax evasion, sanctions and bribery & corruption ("financial crime" or "AML/CTF").
Summary of the key purposes of the role
UK role:Holds SMF17 (taking on the Money Laundering Reporting Officer duties for the UK)
- Manages UK Financial Crime Team with respect to UK business / activity
- Monitors the effectiveness of financial crime systems & controls and regularly report to senior management
- Nominated Officer for reporting suspicious activity to the National Crime Agency
- Responsible for working with the local Financial Crime Compliance teams and business to drive forward financial crime systems & control enhancements
- Point of escalation for raising issues or concerns
- Point of co-ordination for SG PRIV instructions, projects, issues etc
- The implementation of SG Group AML/CTF/KYC policy as transposed by each Entity's Business Division;
- Manages and monitors the AML/CTF framework in terms of governance, procedures and controls, application of the obligations concerning due diligence, monitoring and reporting; and remediation with regard to shortcomings and deficiencies.
List of FCA and PRA prescribed responsibilities and other regulatory responsibilities held in respect of any FCA key areas, activities, or management functions of the firm
Overall responsibility for the firm's policies and procedures for countering the risk that the firm might be used to further financial crime - This responsibility is shared with SMF 4 and SMF16. For SMF 17 the remit of the financial crime responsibility includes the policies and procedures for anti money laundering, the financing of terrorism, bribery & corruption and economic sanctions but does not include the systems and controls in relation to Fraud against the Bank and cyber crime. In relation to reporting requirements as MLRO, SMF17 is responsible for the reporting of Suspicious activity reports (SARs), but not the reporting of suspicious transaction order reports (STORs), which are the responsibility of the SMF16.
Inherent role responsibilities
- Participating in the monitoring and management of the AML/CTF/KYC governance framework and making all the necessary reports to the executive body and other committees on all matters relating to AML/CTF;
- Managing the AML/CTF/KYC framework across the Group in conjunction with the MLRO/CO in each jurisdiction in accordance with the Group guidelines, and ensuring its effectiveness;
- Ensuring the existence and proper functioning of the AML/CTF governance framework in Kleinwort Hambros, in accordance with established rules;
- Monitoring local regulatory developments, participates in consultations and discussions with local organisations and authorities;
- The publication of Kleinwort Hambros policies and procedures for countering the risk that Kleinwort Hambros might be used to further financial crime;
- Preparing such policies and procedures so that - in compliance with the Money Laundering Regulations - they relate to (i) internal control (ii) risk assessment and management (ii) customer due diligence and ongoing monitoring (iii) record keeping and (iv) reporting of suspicions;
- Preparing such policies and procedures so that their scope includes anti money laundering, countering terrorist financing, sanctions, tax evasion and bribery & corruption (although responsibility does not include market abuse, fraud against the Group or cybercrime (where responsibility sits elsewhere));
- Preparing such policies and procedures so that they are appropriate to the business, proportionate and risk based;
- Deploying AML/CTF procedures, and ensuring their dissemination to all staff of Kleinwort Hambros and their effective implementation;
- Contributing to the exchange of information needed for the consolidated AML/CTF risk monitoring of PRIV and the SG Group in compliance with the applicable local regulations;
- Providing answers to CPLE/FCC, in coordination with the RCO, for any request for information regarding the Entity's AML/CTF framework;
- Ensuring that applicable regulatory changes with respect to AML/CTF are identified and taken into account within the required timescale;
- Providing guidance to the business on current policies and procedures through formal training and informal advice including regular updates where changes have been made to the financial crime related policies and procedures;
- Conducting assessments (separate to those conducted by IGAD Internal Audit) and other reviews of work practices to identify breaches or other non-compliance with policies and procedures; and is the recipient of the reports and conclusions of internal and external audits, within the scope of his/her responsibilities.
- Providing management information through monthly reports to local management and through quarterly reports to the Audit Committee on (i) changes to policies and procedures (ii) assessments on the adequacy of policies and procedures (iii) breaches / non-compliance and (iv) recommended enhancements and (iv) to coordinate the production of the annual AML report to the Audit Committee
- Reporting regularly to management on the state of the AML/CTF measures and their effectiveness, incidents recorded, the remediation plans in progress or to be implemented. Regularly reports to the Compliance Committee regarding incidents recorded;
- Identifying and reporting back to the CCO of the Business Division, CPLE/FCC and SEGL/JUR.RBF on discrepancies between local requirements and internal procedures, accompanied by suggested solutions;
- Organising and implementing a secure system for archiving and keeping information and documents related to AML/CTF;
- Establishing an effective workflow for processing information and the operational resources needed to respond to any request (from CPLE/FCC, the regulator or other authorities) in compliance with applicable regulations.
- Implementing the classification of money laundering and terrorist financing risks in Kleinwort Hambros accordance with the SG Group's KYC instructions;
- Supervising the process of approving new relationships for the riskiest customers (eg PEPs ) and the process of reviewing KYC files;
- As part of the process for approving new relationships or the periodic review of files, analysing the files submitted to him/her, issues a detailed opinion and decides, within the framework of his/her delegation, whether or not to approve each of these files;
- Based on defined criteria, submitting files for further analysis to CPLE/FCC for the High Risk files, as applicable;
- Contributing to the periodic review of customer KYC files by providing expertise to the Business Lines;
- Taking the decision to terminate a relationship with a customer if an abnormal transaction or if a suspicion in respect of a customer is brought to his/her attention, when such a termination is permitted by local regulations;
- Organising and implementing the measures and tools for detecting unusual transactions likely to give rise to a suspicion of money laundering, terrorist financing, tax evasion and/or corruption;
- On a regular basis ensuring that the effectiveness of the measures meets the most rigorous standards of the SG Group and/or local regulations;
- Centralising and analysing information reported to him/her or her regarding suspicious activity;
- Deciding whether or not to report a suspicious transaction and documenting the decision taken;
- Reporting suspicious transactions to the competent local authorities in accordance with local regulations;
- Communicating information about suspicious transactions and suspicious activity reports to CPLE/FCC.
- Exercising no operational activity other than that linked to the prevention of financial crime;
- Taking decisions in the limit of the delegations of authority implemented within the Compliance stream.
- Contributing to the annual risk assessment process for AML/CTF risks within the scope of his/her and ensuring that it is carried out for Kleinwort Hambros;. participating in the operational implementation of key controls of Kleinwort Hambros of Normative Controls (BCN) relating to the prevention of financial crime applicable in Kleinwort Hambros; formalising or participating in the formalisation of Kleinwort Hambros' tier-1 internal control procedures relating to AML/CTF;
- Ensuring that operational controls are carried out by the concerned parties of Kleinwort Hambros according to the specified method and frequency, and verifying that the results of the controls are formalised, justified and documented;
- As part of monitoring, ensuring that corrective actions are implemented and takes all the necessary steps in this respect;
- Ensuring that the recommendations of the internal and external audit bodies, within the scope of his/her responsibilities, are implemented and takes all necessary steps in this respect.
- Informing and raising the awareness of Kleinwort Hambros' management concerning the risks of money laundering and terrorist financing;
- Ensuring that each member of the AML/CTF team has adequate training, or AML/CTF/KYC certification, so they are always in a position to provide advice and guidance on complex issues in the context of their operational activity;
- Defining the various categories of personnel to receive AML/CTF training based on their risk exposure, and adjusting the type of training and its content accordingly;
- Defining and ensuring the implementation of an AML/CTF training programme in consultation with Human Resources, adapted to the business profile of the Entity, to local regulatory requirements, and to the different types of staff (type of training, persons to be trained, frequency, reporting, etc);
- Checking that all staff of Kleinwort Hambros are regularly trained in compliance with regulatory requirements and internal instructions, and implementing corrective actions, consulting Human Resources if applicable.
- Developing or contributing to the preparation of activity reports and intra-group reports related to AML/CTF matters;
- Drawing up and submitting local regulatory reports.
- Defined Senior Management competencies as defined by the SG Leadership model
- 5 or more years' experience in operational bank activities and/or the management of operational risk/compliance or internal or periodic control;
- Knowledge of local AML/CTF regulations and Group Instructions;
- Experience of Russian, Middle Eastern and African private client markets
- Change Management - recommend and lead change to and on behalf of senior management
- Communication - written and verbal to all levels of the organisation and to external third parties including regulators and law enforcement
- Decision making
- Influencing - Persuade and influence senior management, line management, peers and individuals across Kleinwort Hambros
- Management and interpersonal skills - people management and development, team building skills, stakeholder management
- Ability to analyse and summarise; Ability to communicate orally and in writing; Ability to manage teams;
- Project Management
- Strategic & Commercial awareness - Develop and apply commercial awareness and business acumen in all day to day and longer term tasks. Develop the necessary working, theoretical knowledge and understanding of the MLRO