This role in an international Bank is supervisory to a team of transaction control analysts, managing mostly the workflow and guidance and processing directly, and / or checking others work, in relation to the review and authorisation of all live transactions captured by the Banks sanction filters.
This role sits within the Financial Crime Middle Office, and the role holder will have Transaction Control analysts reporting into them from a day to day workflow and guidance perspective.
- To act as a subject matter expert for the first line of defence, within the three lines of defence model, protecting the Bank and its clients from Fraud, Sanctions, and Financial Crime risks in relation to all live transactions processed EMEA wide
- To assist in and complete investigations and the collection of background information for CPD in relation to any transactional financial crime investigation as required.
- To escalate and formally report any transaction or client which appears to expose the Bank to any Sanction or Financial Crime risks to the CPD second line for advice / guidance, submitting a SAR where necessary.
Background of the business
- The function of this role is to act as a supervisor for a team of analysts within the Bank's London based Transaction Control team, processing directly, and / or checking others work, in relation to the review and authorisation of all live transactions captured by the Banks sanction filters. The role will also involve the investigation and if necessary the escalation of fraud alerts identified by the detection systems, the investigation and confirmation re the authenticity of goods shipped under Trade Finance transactions, and to investigate the background of all incoming and outgoing funds associated with customer accounts. The role will provide day to day workflow management ensuring cut off times are adhered to, provide training and guidance as required to analysts on the team, and monitor the performance and accuracy of the Analysts work.
- The role will need to assist with and on occasion manage project work and system testing as required. They will need to provide feedback to the IT teams in relation to testing and escalate issues noted. They must ensure all systems are working correctly before promotion to production and changes have not impacted existing functionality.
- The role will need to work closely with all areas of the CPD Financial Crime Group, to receive advice and guidance and where necessary lead investigations as directed by these teams. This included EMEA based MLRO’s should the transaction under investigation emanate from another EMEA office
- The role will provide and analyse MI in relation to trends noted re volumes or increase in threats seen to the Bank (e.g. type of fraud identified, transactions with potential sanctions related concerns). These may be used as part of training points for the team and wider Bank audience.
- The role will provide feedback and expert analysis concerning changes to be made to the CPD policies in relations to the Trade Finance transaction reviews and Sanction Screening. Ensuring that procedures are updated promptly to reflect the new requirements.
- This role will be responsible for the day to day performance and training of a team of Analysts from a workflow management perspective, and also from a quality perspective. This will entail the checking of the analyst work, and reviewing training requirements of the team.
- This role will have contact EMEA wide, with Operational processing teams, CPD teams, including MLRO’s, and Front Office teams. Externally the role will have access and contact with third party investigators.
- The holder will need to review second line quality reviews or Audit recommendations, ensuring that action plans agreed to are completed within the time scales agreed.
- There will be daily interaction with the Financial Crime Group of CPD, especially the Forensic and Sanction teams concerning escalation of issues noted within a transaction or to seek advice and Guidance.
Accountabilities & Responsibilities
- Monitor and process the fraud and sanction alerts received by the section, ensuring that only false positives are processed in line with regulatory and internal policies. Either conduct their own investigation, or review the investigations of others concerning Trade Finance documentation and payments and fraud alerts, to ensure all financial crime risks have been mitigated.
- Where necessary items must be escalated to the Section Manager and second line, in a timely manner for further advice and guidance.
- Monitor the staff training plans and recommend training so that all staff are current on the working procedures, systems and regulatory changes.
- Coordinate and participate, in the remediation of files or investigations identified as requiring additional work by the Compliance Monitoring Teams, or Internal Audit, ensuring that any remediation is fully completed within the allowed timescale and any additional issues noted are escalated as soon as identified.
- Represent the FCMO at internal or external meetings as an SME
- Contribute to improved Departmental performance, identify weaknesses / inefficiency in systems, workflow and processes, and suggest enhancements
- To participate as directed in any ongoing projects as and when required, including system testing.
The role requires an excellent understanding of the regulatory framework associated with Financial Crime / Sanctions / AML
Previous experience of working within a financial crime investigations team in a financial institution is required. Excellent knowledge of both Financial Crime and Fraud vital.
This role requires the holder to have a full operational knowledge of the products that the dept processes on behalf of their clients, especially in the payments field.
Externally recognised qualifications in relation to Sanctions, Trade Based Money Laundering or AML are preferable. (e.g. ICA certificates)
The role requires excellent communication skills both written and verbal and the ability to communicate complex issues and regulatory requirements to all levels of the organisation.
The role requires the ability to prioritise transactional handling within set cut off times, and to make sound judgements based on previous experience within a Financial Crime Operational area, and knowledge of regulatory guidance.
This is a temporary need for immediate start so please enquire ASAP