My client is a specialist International wholesale bank based in London. They are searching for a AML & Compliance Officer.
Desired Skills & Knowledge
Minimum 3 years’ experience in similar roles, with a UK bank or branch/subsidiary of a foreign bank.
Good knowledge of the UK banking regulatory environment, including FCA Handbook (SYSC, COBS, BCOBS, DISP, SMCR and Consumer Duty) and PRA Rule book.
Good understanding of risk frameworks
Experienced user- Excel, Word and PowerPoint
Good communication and report writing skills
Strong research and analytical skills, to organise and interpret data, to draw meaningful insights to support decision making.
An eye for detail in risk assessment and control testing and follow up of remedial actions
Ability to manage key stakeholder relationships
knowledge of trade finance and corporate lending would be an advantage


Key Responsibilities
Support MLRO and Head of Compliance who has responsibilities for oversight of the Bank’s AML and Compliance frameworks.


Compliance:
Assist with annual BWRA
Assist with appropriate framework policies
Ensure owners of policies and procedures review these documents in accordance with the agreed review cycle
conducting regulatory compliance reviews and supporting follow up action
Engage with regulatory consultation and discussion
Horizon Scanning – you will have ownership of this, advising the business of impact of regulatory developments or changes, support appropriate project work as directed, and ensure Bank policies and procedures are kept up to date.
Provide guidance and advice to the business, responding to AML and other regulatory queries on a timely basis
Consumer Duty – perform agreed testing, reporting to the Consumer Duty Champion. Support delivery of annual Consumer Duty board report
Support complaint handling process.
Maintain the FCA register ensuring that this is kept up to date.
Work with HR to support the Bank’s learning and development programme.
Collate and analyse data, to support completion of regulatory reports on a timely basis.
Support management of regulatory breach log, remediation, and reporting to senior management team.
Maintain Conflict of Interest log
Support regulatory and audit engagement, liaising with key stakeholders, as directed.
Support regulatory compliance projects, as directed.
Promote a strong culture of compliance across the business.


AML & CTF:
Support annual BWRA of AML & CTF risks
Support review of AML & CTF policies and procedures, with appropriate update
Testing of controls to prevent fraud and financial crime and sanction breaches and provide monthly /quarterly assurance reports to senior management that the business is compliant with the Bank’s AML & CTF policies and procedures
Manage escalation of sanction screening alerts and sanction lists
Sanction, PEP and Adverse Media screening – resolve escalation from the Frontline within agreed timeframes
Transaction monitoring – ensure these comply with the Bank’s policies and procedures, that the business document source of funds/wealth
Suspicious Activity Reports (SARs) are submitted on a timely basis to the appropriate authorities
Customer due diligence (CDD) – ensure, as part of approval and control testing, that CDD is conducted and documented in line with the Bank’s requirements, and at the appropriate level (EDD is completed for higher risk customers) at onboarding, trigger events and at KYC review.
Customer risk rating – that this is undertaken correctly at onboarding and refreshed at trigger events and at KYC review
Review and sign off Financial Crime risk assessment for onboarding of new customers, KYC review, corporate loans and trade finance transactions.
Provide guidance to the business on issues of AML & CTF and sanctions
Support preparation of annual MLRO report to the board