Financial Crime Manager

Lloyds of London
12 Feb 2019
13 Mar 2019
Contract Type
Full Time

Financial Crime Manager



About Us

All leadership roles within Lloyd's have an integral part to play in the achievement of the Strategy and Vision 2025 and will contribute overtly to:

Lloyd's becoming a brand that is globally admired and recognised and respected for its reputation as the world's specialist centre for (re)insurance. Lloyd's will be known around the world for its integrity and will be a place where talented, diverse and socially responsible employees feel proud to work.

Market Services

A Lloyd's department which provides services to members in relation to their underwriting at Lloyd's including maintenance of funds of Lloyd's (FAL) and distribution of profits and losses, whilst protecting capital security by ensuring that members meet capital requirements and regulatory demands.

The Role

To be responsible for all "first line of defence" matters related to Market Services internal and external regulatory and legislative requirements and to mitigate the risk to the Society of Lloyd's of any regulatory fine or reputational damage with specific attention to Financial Crime and AML obligations

What Will You Do?

  • Provide a day to day reference point on Financial Crime matters for Market Services (MS) staff and provide a clear overview of issues and concerns to Market Services Compliance Manager:
  • Protect Lloyd's from the impact of financial crime and fraud, whilst protecting Lloyd's reputation and mitigating risk from financial loss and regulatory fines
  • Provide a reference point on Financial Crime matters to MS staff working in close partnership with the business teams in MS to help embed and promote existing processes and controls, developing new ones when required.
  • Keep abreast of regulatory and legislative changes in respect of Financial Crime and Anti Money Laundering Legislation (AML)to ensure ongoing and future compliance within MS, communicating the impact of changes to MS staff
  • Provide guidance and oversight to the 'entity' on-boarding team to ensure policies and procedures meet current AML and Financial Crime regulatory obligations and avoid any regulatory breaches
  • Review the completion of Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) for new and existing entities as part of the on-boarding/risk review process across all jurisdictions and risk classifications
  • Develop new procedures and controls for MS following the Enterprise Wide Risk Assessment and the recommendations from the recent KPMG review, including a monthly programme of Management Information reporting for MS
  • Provide comprehensive training for MS staff in response to AML and Financial Crime matters
  • Work collaboratively with the Members' Agents to ensure consistency of approach to all Financial Crime and AML processes, attending the quarterly compliance meetings with the MRLOs at each agent.
  • Regular liaison with the London Compliance Team
  • Build and maintain strong relationships with all stakeholders to deliver a high level of customer satisfaction.
  • Support the Market Services Compliance Manager and broader Senior Leadership team
  • contribute to an open and transparent culture of risk management and demonstrate a strong awareness of the risks that should be managed within the responsibilities of the role; and
  • deliver responsibilities in line with all relevant risk appetites, policies, reporting and when applicable, membership on or input to Lloyd's risk committees.

What You'll Need

  • To be a subject matter expert on Financial Crime matters
  • Ability to react to continual changes in market conditions and policies
  • Proven ability to build and maintain key stakeholder relationships
  • Influencing & negotiating skills
  • Ability to think strategically as well as focus on the detail
  • Review & evaluation skills
  • Ability to interpret legal and regulatory advice & take appropriate practical actions
  • Knowledge of Financial Crime and AML requirements and legislation
  • Knowledge of client onboarding requirements including CDD and EDD and working with complex structures
  • Knowledge of the Joint Money Laundering Steering Group and FCA rules
  • Knowledge of business process and systems change tools and best practice principles
  • Knowledge of relevant legal & regulatory requirements both UK and Internationally
  • Knowledge of rules relating to membership of Lloyd's and trust funds
  • Experience of on-boarding and handling different client types (corporates, trusts, partnerships and other complex structures)
  • Experience in reviewing the completion of CDD/EDD for new clients covering all jurisdictions and risk classifications
  • Experience of implementing processes that mitigate financial crime risks within a Financial Services operational team
  • Experience of using research tools such as World-Check, FAME, Orbis etc.,
  • Experience of stakeholder management

As the successful candidate, you can expect to be rewarded with a competitive salary, an enviable range of benefits.

We are committed to flexible working, therefore if you would like to consider this as a part-time opportunity, please include this within your application.

At Lloyd's we believe that innovation comes from having an inclusive culture of equality and diversity. We use ClearTalents to discover how we might help you feel welcomed, supported and able to do as well as you can when applying to work for us, including identifying any reasonable adjustments that we may need to make. Should you feel that you require reasonable adjustments during your application process we request that you please contact us and we will be happy to send you a link to ClearTalents.

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