Assistant Financial Crime Prevention Manager
- Contribute in the development and implementation of flexible and robust systems, procedures and controls within the businesses to meet compliance objectives / regulatory requirements and help businesses to continually improve their performance in these areas.
- To possess a thorough up-to-date understanding of the relevant FSA rules, anti- money laundering legislation, Proceeds of Crime Act & fraud act 2006, and all applicable statutes to the Bank's businesses, and ensure the Bank conducts its activities in accordance with regulatory requirements.
- To function effectively within the Financial Crime Unit and manage it's functioning through well defined and embedded policies and robust processes.
- To provide ongoing training to all the staff on Managing Financial Crime
- To advise the business units of regulatory changes that might affect them respect to Money Laundering Regulations and Financial Crime Prevention.
- Preparation of monthly reconciliation summary of control accounts and intersystem reconciliation.
- To help develop and implement relevant and appropriate on-going monitoring programmes that demonstrate anti fraud framework with key regulatory requirements.
- To remain up to date with regulatory and legislative developments and ensure the implications for the Bank is assessed and where necessary ensure changes are disseminated and implemented.
- To ensure staff understand their individual and corporate responsibilities regarding the detection and prevention of financial crime in the Bank.
- Provide full cooperation with law enforcement authorities under the Proceeds of Crime Act 2002, Serious Organised Crime and Police Act 2005, Fraud Act 2006 and other applicable legislation.
- To promptly deal with or escalate fraudulent activities to the Head of Compliance and ensure both corrective and preventive actions have been implemented by the business unit.
- To act as a central point of contact for all fraud and financial crime related activities.
- To help ensure that relevant and reliable management information on the AML and Fraud Governance issues is delivered to senior management on a timely basis in order to enable effective action to be taken where necessary.
- To facilitate effective and constructive sharing of knowledge and experience of financial crime prevention issues and to effectively engage with other parts of the Group.
- To ensure the effective implementation of Fraud procedures and to ensure that the Bank has in place appropriate controls, policies and procedures.
- Central point of contact for all production orders and any other related crown court orders.
- Central point of contact for all SARs disclosures and communication with relevant authorities including SOCA.
- Assist MLRO to alert SOCA as necessary on relevant reporting.
- Central point of contact for CIFAS and all other financial institutions in relation to fraud.
- Attend monthly fraud governance committee meeting.
Main Accountabilities and approximate time split
- Maintain and communicate the Bank's Fraud Governance Framework and ensure that the Bank has appropriate Fraud Risk controls in place 20%
- SOCA/SARs 15%
- Financial Crime and Fraud 30%
- Fraud Governance/meeting 5%
- Production Orders 30%
- Intellectual and analytical skills of a high order.
- A graduate and / or have a professional qualification.
- The strength of character, credibility and personal presence and the communication skills to operate confidently and effectively at senior levels both internally and externally.
- The flexibility to appreciate the commercial objectives of the business, coupled with an ability to challenge, independently and constructively, senior management, peers or other staff where appropriate, to insist upon adherence to the highest standards of business practice and to the requirements of relevant authorities. Tact and sensitivity as well as strength and authority are important.
- Ability to use initiative and work with minimum supervision but ensuring, at the same time, that the line reports are kept fully informed at all times.
- Ability to consider issues from a range of angles and propose creative solutions that assist the business in achieving its goals in a safe, compliant and controlled manner.
- Ability to communicate effectively, orally and in writing, with senior internal and external audiences - to educate, persuade, negotiate, gain decisions, enforce.
- Ability to influence senior management.
- Ability to make a real contribution in a rapidly changing environment and thrive on change and the need to learn rapidly.
- Communicate fraud alerts in a timely manner to all relevant parties.
Knowledge and ExpertiseEssential
- Wide-ranging financial crime experience.
- Good understanding of current and anticipated UK requirements and supervisory expectations.
- Good computer literacy and knowledge of Microsoft word/excel
Experience and qualifications specific to the role :Essential
- As required by role