Financial Crime Compliance Analyst

THE COMPANY:

Our client is a a global banking group with offices based in the City.  They are looking to hire a Financial Crime Compliance Analyst on a permanent basis.

THE RESPONSIBILITIES:

• Analyse the impact of new regulatory rules and guidelines on the Bank’s correspondent banking and trade finance compliance framework, and update the Bank’s financial crime policy framework as appropriate
• Contribute to the development and execution of the Bank’s anti-financial crime strategy, including to assist with annual review and updated of financial crime related policies and procedures
• Contribute to the development and execution of the Bank’s anti-financial crime strategy with regards to Correspondent Banking & Trade Finance Compliance
• Supporting in the collation of and enhancements to MI being reported to Senior Management committees
• Review escalations (adverse media, sanctions, PEPs) and provide financial crime compliance subject matter guidance and support to the business and first line of defence support functions (including Onboarding, Transaction Monitoring, Client Coverage).
• Review of PEPs relationships
• Work closely with the Business Compliance Manager (BCM) and the Correspondent Banking Due Diligence Team in reviewing and assessing the adequacy of respondent bank’s financial crime systems, controls, policies and procedures
• Act as a point of contact with regards to correspondent banking related queries such as due diligence questionnaires and RFIs
• Provide subject matter guidance and support to the Trade Finance Operations team with regards to trade-based money laundering risks such as economic sanctions, dual-use goods, and high-risk commodities etc.
• Conduct sample testing on transactional due diligence carried out by Trade Finance
• Review and investigate Unusual Activity Reports and make recommendations to the MLRO as to whether there are reasonable grounds to know or suspect money laundering and / or terrorism financing
• Conduct research related to money laundering, terrorist financing, fraud and other elements of financial crime and determine the materiality of such findings
• Draft disclosures for Suspicious Activity Report and liaise with law enforcement agencies as and when required
• Provide training to staff on suspicious activity reporting requirement and procedures
• Pro-actively researching future changes in regulation and industry guidance;
• Reviewing and conducting analysis of industry fines
• Conducting GAP analysis and implementing changes where necessary
• As and when required, provide risk-based and proportionate input to and support the design and execution of Bank-wide correspondent banking and trade finance compliance related projects
• Identify and prioritise their work to ensure that work objectives are fulfilled
• Collaborate closely with other members of the wider compliance team, and share experience, insight and perspectives to support the development of a comprehensive, risk-based and rounded compliance framework and culture
• Stay abreast of developments in regulatory rules and good practice to ensure the Bank’s correspondent banking and trade finance compliance framework remains fit for purpose and up to date with the latest regulatory developments and industry best practice
• Identify and undertake activities to develop professional knowledge, skills and understanding, and ensure that personal resources (particular knowledge, understanding, skills and time) are appropriately used.
• Take personal responsibility for making things happen and take pride in high quality work
• Continuously consider how to automate controls and make processes more efficient
• Be commercially minded, always looking for solutions that satisfy Compliance requirements and minimise adverse business impact

EXPERIENCE REQUIRED:

• A minimum of 3 years’ experience within a financial services environment
• Relevant experience with correspondent banking and / or enhanced due diligence gained within a Second Line of Defence / Compliance function essential
• Experience investigation Unusual Activity Reports / Internal SARs and making disclosures of Suspicious Activity Reports (SARs) to the NCA essential
• Experience working as part of Financial Intelligence Unit within an international financial services firm would be an advantage
• Must have good knowledge of the legal requirements and regulatory expectations related correspondent banking and trade finance compliance risks
• Must have a good understanding of customer due diligence (CDD) and enhanced due diligence (EDD)
• Must be able to understand and apply outcome focused regulation and have a sound risk awareness

For further information please contact Hannah Tabatabai