Financial Crime & Payments Officer Financial Crime & Payments Officer …

in London, United Kingdom
Contract, Full time
Last application, 19 Sep 21
Up to £40,000
in London, United Kingdom
Contract, Full time
Last application, 19 Sep 21
Up to £40,000
Posted by:
Kim Carmona • Recruiter
Posted by:
Kim Carmona
This role's function is to support the Financial Crime team in ensuring appropriate support and challenge is provided to the business, ensuring that any regulatory risks are raised and managed accordingly. This is with a particular focus on oversight of transaction monitoring and alerts for payment processing.

Core duties 

- Act as the Compliance and Financial Crime SME in relation to onboarding of high risk customers

- Assist with the investigation and remediation of Transaction Monitoring alerts and escalations

- Ensure that the business considers the impact of Financial Crime rules and regulations, with a particular focus on the Payment Services Regulations, Money Laundering Regulations and PoCA 2002

- Providing advice to ensure internal processes and procedures are updated to reflect regulatory requirements

- Produce and maintain management information to enable effective oversight and committee reporting

- Assist with review of Suspicious Activity Reports

- Advise on policy or procedural changes required to incorporate the identified changes

- Liaise with members of the Compliance and Financial Crime team as required to ensure alignment with bank policies and procedures

Daily responsibilities and tasks

  • Support the management of fraud cases escalated by the first line
  • Monitoring of low/medium risk onboarded customers
  • Lead due diligence on new providers and outsources on behalf of the team, ensuring that risks are appropriately mitigated
  • Ensure that key Financial Crime regulatory issues are reported to the MLRO with options and recommendations analysed to facilitate reporting to senior management
  • Developing KPI’s and other relevant MI to ensure that senior management are appropriately advised to enable informed decision making
  • Ensuring that the Financial Crime procedure is embedded in the business and providing reporting to management on the status of complaints, implications for the business and lessons learnt
  • Ensure that standard and ad-hoc information and data reports required by regulators are completed in an accurate and timely manner
  • Keep a central record of all advice provided to the business
  • Maintenance of a clear audit trail of work undertaken
  • When required support compliance related business as usual activities
  • Contribute to the Financial Crime team responsibilities for the development of New Products or changes to existing products as allocated to you or as requested
  • Overseeing and completing all other necessary regulator reporting (UK and Dubai) and notifications including approved persons and change in control
  • Ensure procedures, systems and controls are up-to-date, effective and comply with the regulations identified in the Financial Crime Risk Universe

Skills Required 

  • Strong knowledge of banking and payments, with an understanding of financial crime controls
  • Excellent writing and presentation skills
  • Strong stakeholder management
  • Strong change and project management skills, including the ability to manage time well, prioritise effectively, and handle multiple deadlines 
  • At least 3 years within a Financial Crime function
  • Prior experience implementing new payment solutions
  • Prior experience with on boarding of GCC customers

Personal Profile

  • Professional interpersonal skills; ability to interact effectively with people at all organisational levels of the firm
  • Ability to handle confidential and sensitive information with the appropriate discretion
  • Ability to use independent judgement and discretion when making decisions
  • Sufficient knowledge of information technology and data management systems required
  • Ability to work unsupervised and influence change
  • Detail-oriented approach needed to recommend and implement strategic improvements on a range of data privacy and data protection issues
  • Knowledge of PC applications, including MS Office
LMA logo
More Jobs Like This
See more jobs