Senior Financial Crime Officer
Location: London, England, United Kingdom
Senior Financial Crime Officer
Description of the Business Line or Department
The Financial Crime Unit (‘FCU’) is part of the wider Compliance function. It is responsible for providing advice and guidance to business management for the investment banking business in London on the financial crimes risks faced by their business and providing an oversight function on the effectiveness of mitigation controls and processes.
Summary of the key purposes of the role
- To be responsible for advising, providing guidance to, and handling financial crime-related issues for a number of business lines within the Investment Bank in London but in particular the Securities Services.
- To participate in the development and enhancement of the financial crime monitoring programme by working with the business lines, other support and control functions and with the Advisory Compliance Officers on financial crime matters and to assist in resolving any financial crime issues identified.
- To act as the FCU’s principal point of contact between the Unit and Securities business. To liaise with them, as required, to assist them in their management and mitigation of financial crime risks.
- To liaise with the global Know Your Client (“KYC”) Function and the London KYC Team to provide guidance on UK requirements.
Summary of responsibilities
- Assisting with the implementation and management of the anti-financial crime strategy within the UK covering anti-money laundering, terrorist financing, bribery and corruption.
- To work with the Head of the Financial Crime Unit and other members of the team to maintain and further enhance financial crime compliance programme in line with Group Instructions relating to financial crime matters and UK regulatory standards.
- Proactive participation in the maintenance of the risk cartography, ensuring that the inherent regulatory risks posed by business activity are determined, the mitigating factors assessed to determine the residual risk and the actions required to further mitigate, or reduce, the regulatory risk.
- Assisting in the maintenance and continuing development of the risk assessment processes including the country risk assessment process.
- To approve high risk accounts.
- Involvement in the approval of new products from a financial crime perspective.
- Assisting with implementing and maintaining appropriate management information for financial crime.
- Involvement in the planning, review and design of sanction/embargoes controls.
- To provide AML advice and guidance to senior management.
- To participate in the development and enhancement of financial crime monitoring programme by working with the business lines, other support and control functions and with the Advisory Compliance Officers on financial crime matters and to assist in resolving any financial crime issues identified. In particular, to undertake on-site assessments of the financial crime control framework for clients where the business has entered into a reliance agreement with that client.
- To develop and enhance financial crime related policies and procedures as necessary.
- To provide financial crime training to the business and senior management and maintain training records.
- To conduct investigations and make reports to the National Crime Agency (NCA) and/or the FCA under the supervision of the MLRO.
- To assist the Head of the Financial Crime Unit to produce the FCU’s contribution to the monthly Compliance and Financial Crime Report for the Head of Group Compliance and senior management.
- Participation in Compliance and other projects as necessary.
- Maintaining a detailed working knowledge of the FCA rules and regulations, and UK and EU financial crime related legislation, and a broad awareness of ACPR, AMF, and other regulatory and exchange rules and regulations as required.
- Undertake AML monitoring activities as part of a broader shared monitoring framework within the team.
- Involvement in delivery of items in the annual Compliance Plan, which are relevant to the coverage of the team, in a timely manner.
- In-depth working knowledge of FCA and other regulatory rules
- In-depth working knowledge of financial crime related legislation
- Compliance experience relating to Financial Crime