Senior Financial Crime Risk Manager - Challenger Bank

Chamberlain Career Management Limited
19 Aug 2019
22 Aug 2019
Contract Type
Full Time
The Company

Our Challenger Bank client offers straightforward, transparent banking; they were established almost 70 years ago and are truly challenging the big banks nationally to give businesses a flexible alternative option for their funding and saving requirements.

The Opportunity
  • To play a leading role in the formulation, implementation and execution of policy to ensure that anti money laundering (AML) and combatting terrorist financing (CTF) regulatory requirements are met and losses through Financial Crime are contained to a level acceptable to senior management of the business.
  • Acting as a subject matter expert for AML and other Financial Crime related issues.

Key Responsibilities
  • Responsible for providing recommendations to the formulation of financial crime strategy and then for the implementation and execution together with the supporting frameworks and policy to ensure that fraud, anti-money laundering (AML) and combatting terrorist financing (CTF) requirements from a legal and regulatory perspective are met across the Group.
  • Lead the strategic assessment, development, review and monitoring of the Financial Crime Framework and supporting governance infrastructure. This includes from implementation, embedding and through to on-going adequacy the framework to associated controls.
  • Lead in ensuring that losses arising from Financial Crime are contained to a level acceptable to senior management of the business; challenging and testing the proposed controls and risk treatments to manage these risks. This role is across all Group, product lines and functions.
  • Act as a Nominated Officer; receiving and review suspicious activity reports (SARs).
  • Demonstrate expert knowledge for AML and other Financial Crime related requirements and issues, providing advisory support and guidance on the proper application and interpretation of laws, regulations and policies applicable to the entire Group's business line products and services. Act as the escalation point for complex issues.
  • Provide AML and other Financial Crime expertise to support project teams and the delivery of new products and processes and in the completion and undertaking of regulatory returns.
  • Oversee and provide regular reports and management information for Group Financial Crime Committee, Business Unit Executive Committee's (ExCo), Group ExCo, Senior Management and the Board and its Committees on relevant financial crime matters. Ensuring that relevant stakeholders are tasked and challenged to own their relevant operational financial crime risks.
  • Document and ensure that AML and other Financial Crime policies and procedures are complete, fit for purpose and reviewed appropriately. Maintain development of and annual reviews of the Enterprise Wide Financial Crime Risk Assessment (EWFCRA) - incorporating the Financial Crime Framework. Ensuring that risks, controls and other metrics are designed and Executive MI is appropriate for all Board and Executive Committees.
  • Own and conduct AML and other Financial Crime Threat Assessments and gap analyses against requirements and oversight business unit risk & control assessments within ORMS. Liaison with staff and Senior Leaders at subsidiaries and business units on AML and other Financial Crime related matters. Reviewing the AML and other Financial Crime activities of subsidiaries and business units.
  • Support and challenge the business in their setting risk appetite and then oversight monitoring of fraud losses. Instigating action to maintain outcomes within risk appetite.
  • Devising and delivering the training framework and training material for staff AML and associated Financial Crime training and communications.
  • Responsible for undertaking Fraud / Internal Fraud, AML and other Financial Crime related investigations and reporting on findings.
  • Performing the role of Nominated Officer; reviewing reports and ensuring regulatory / legal requirements are met.
  • Support the Compliance Monitoring Team with the execution of the Financial Crime Compliance Monitoring Programme for oversight and monitoring of the effectiveness of AML controls, providing intelligence and oversight of key risks and control issues. Work with individual Business Units to resolve any control weaknesses identified from these activities.
  • Development of the Regulatory Horizon Scanning; then conducting the impact analysis and reviews, with appropriate MI designed and delivered to ExCo, Board Risk Committee (BRC),Group Financial Crime Committee (GFCC) and other product Committees.

Key Interfaces
  • Chief Compliance Officer / MLRO and wider Financial Crime Risk Team and first line Financial Crime Operations Teams
  • Senior Management, including MDs and CEOs of product divisions
  • Group Financial Crime Committee (GFCC)
  • External service providers and brokers
  • Internal and External Auditors

  • Extensive knowledge and experience of financial crime frameworks and application of FCA handbook.
  • Governance, Financial Crime, law, legislation, regulatory matters and frameworks, risk management, controls and oversight.
  • Expert level understanding and knowledge of the UK, EU and Global regulatory framework and developments in regard to Financial Crime Compliance, including specifically knowledge of legal obligations, regulatory and guidance such as set out by the Proceeds of Crime Act, the Terrorism Act, FCA, JMSLG, outputs from FATF and EU money laundering directives.
  • Previous experience as a Nominated Officer desirable.
  • Practical knowledge and experience of commonly deployed anti money laundering systems (inc. PEPs and Sanctions screen tools).
  • Previous experience of Commercial Finance (Invoice Finance), Asset Finance, Residential Development Finance, Retail Finance or Motor lending desirable.
  • Degree level or a Financial Crime related qualification is desirable.

How You Will Be Rewarded

You will receive a base salary of up to £65k plus £5k car allowance, annual discretionary bonus, pension, 28 days holiday and other benefits.

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