Financial Crime Prevention (FCP) Manager - 12 month FTC

Our Client, a major global Bank is looking for a Financial Crime Prevention Manager for their London office, based in the City.  Further details below:

Principal Purpose of the Job

• To support the Bank’s MLRO their duties in maintaining an effective and efficient financial crime prevention framework.

• Maintaining an effective sanctions compliance framework in line with the UK, US, EU and UN regulatory expectations.
• FCP Assurance and Advisory related tasks, which includes: High Risk Case reviews; EDD Reports; FCP Escalations for guidance and approval; risk amendments requests on system; Exceptions and Waivers review; Client off boarding; PEP Risk assessments; and update and manage relevant logs (e.g. Sanctions, PEPs, Exceptions/Waivers and etc.)
• Draft, review and update FCP related policies, procedures and manuals;
• Undertake comprehensive risk assessments which are part of the FCP monitoring plan;
• Undertake QA reviews which are part of the FCP monitoring plan;
• Actively manage the FCP advisory inbox, along with relevant Trackers and logs; and
• Assist the line manager and the peers in the team as and when required.

Main Responsibilities & Accountabilities

Report directly to the MLRO of the Bank, supporting in the oversight and management of the Bank’s efforts in preventing and detecting financial crime risks;

To provide financial crime prevention (FCP) advisory across the Bank with an emphasis on Sanctions, ABC, TF, Fraud prevention and CDD in accordance with relevant laws, regulations and internal policies;

Undertake thorough assessment of CDD files (especially High risk and EDD reports), and subsequently provide comments, rationale and obtain MLROs approval;

Undertake thorough assessment of financial crime risks as part of the customer due diligence process;

Proactively support the team with comprehensive risk assessments including EWRA, Country Risk, Product Risk, Client Risk, Third Party Risk, Bribery & Corruption Risk, Fraud Risk and etc.

Review Gifts and Hospitality requests, and provide adequate assessment;

Manage daily responsibilities of the Financial Crime advisory function, provide support, guidance and training to the relevant staff across the bank, and maintain an effective management reporting line;

Maintain an awareness of current Financial Crime regulations and legislation and ensure that changes are reflected in the following Bank’s policies, procedures and appendices: Anti-Money Laundering (AML), Customer Due Diligence (CDD), PEP, Sanctions, Fraud, off boarding, Anti-Bribery & Corruption, Trade Finance, Gifts & Hospitality, Sanctions, Country Risk Assessment, and Customer Risk Rating Methodology;

Undertake systems functionality and framework testing for CDD, Trade Finance, Fraud, Sanctions and etc.

Perform ongoing reviews as determined by the FCP monitoring plan;

Ensure completion of quarterly CDD and Trade Finance QA reviews;

Where applicable, undertake annual reviews and assessments which are part of the FCP monitoring plan;

Support delivery of the Bank-wide Financial Crime Risk Assessments;

Ensure ‘group-wide’ policies and procedures are implemented as and where applicable;

Assist Head Office with Sanctions Risk Assessments and other Sanctions related matters;

Support the Transaction Monitoring team with the clearing of STORMS alerts in case of high volumes or absences;

Attend KYC due diligence calls/meetings with counterparties and generate call reports; 

Re-open, suspend and reactivate clients on relevant systems;

Maintain personal and professional development and training in order to discharge responsibilities;

Design FCP related course materials and ensure staff within the Bank receive adequate training in: AML, CTF, Sanctions compliance, Fraud identification and detection, ABC, new starter’s financial crime induction (monthly) and other financial crime related matters.;

Review and approve Trade Finance escalations; 

Support and assist the MLRO with relevant reports, such as MLRO, MIP, EWRA, HO, FCA and other relevant reports; and

Ensure any other FCP related tasks assigned by the direct line manager are completed in a timely manner.

Skills and Experience Required:

Strong technical financial crime and regulatory and legislative knowledge, including Money Laundering, Terrorist Financing, Sanctions, Fraud, Bribery & Corruption, Trade Finance, Facilitation of Tax Evasion and Modern Slavery;

Strong Trade Finance, Sanctions, Fraud prevention and ABC advisory experience, preferably gained from acting as a SME in a bank/financial institution;

Strong Knowledge and previous experience in Trade Based Money Laundering is a must;

Practical knowledge and experience of the following: JMLSG, MLR 2017, POCA 2002, EUMLD, The Bribery Act 2010, International Sanctions;

Exceptional attention to detail and good application of the risk-based approach;

Experience of sanctions payment screening and transaction monitoring systems;

Experience in financial crime compliance or audit roles with demonstrable career development;

Track record of performing in a wholesale banking environment with exposure to high risk scenarios;

Good knowledge of the relevant FCA rules pertaining to sanctions and financial crime systems and controls and UK Money Laundering Regulations;

Strong second line advisory experience within the areas of financial crime compliance specifically in Trade Finance, Sanctions and Fraud prevention and detection;

Ability to undertake research and analysis and exercise sound judgement;

Ability to balance risk and practicality to determine appropriate action and solutions;

A proactive and effective problem solver with good communication skills;

Excellent stakeholder management experience with a focus on interaction with the Business and an ability to balance risk management considerations and commercial factors;

Ability to be proactive and think outside of the box in terms of introducing and enhancing control process, reporting, and FCP oversight;

Proven team player who can fit comfortably into new environments, work diligently at all levels with meticulous preparation, attention to detail and commitment, and a track record of delivering results;

Previous payment, banking, law enforcement, or regulatory experience;

Proven experience in entity types such as, Funds, SPVs, Trusts, Foundations, Charities and LLPs;

An understanding of complex ownership structures and experience of the breadth of Financial Crime

requirements for a range of corporate and FI entities both in the UK and overseas is essential.

Other Factors:

Bachelor's Degree or higher education (preferred).

Diploma or higher education in Financial Crime Prevention from ICA, ACAMs or equivalent is a must.

Certification and/or a diploma in Sanctions compliance is a must.

The job holder may be asked from time-to-time to provide assistance on wider compliance issues;

For further information, please contact: 

Enrico Castagnetti, Wintermann Search & Selection Limited

Mobile:       +44 (0)7711 267500

Email:         enrico@wintermann.co.uk

Unfortunately, due to the high volume of applications, we are unable to respond to all candidates.  If you are successful, a member of the team will contact you directly.  If you do not hear from us, please assume that your application has been unsuccessful.