Financial Crime Prevention Manager
Purpose of the Job
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.
Area of Responsibility
To possess a thorough up-to-date understanding of the relevant FSA rules, anti- money laundering legislation, Proceeds of Crime Act, and all applicable statutes to the Bank’s businesses, and ensure the Bank conducts its activities in accordance with regulatory requirements.
To actively participate in day to day operations of 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.
To help develop and implement relevant and appropriate on-going monitoring programmes that demonstrate compliance 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 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.
Coordinate monthly fraud governance committee meeting and ensure proper recording of its minutes.
Maintain and communicate the Bank’s Fraud Governance Framework and ensure that the Bank has appropriate Fraud Risk controls in place.
Help to develop the internal knowledge and understanding to mitigate the risk faced by the Bank from the challenges posed by the ever increasing financial crime and fraud activities.
Raising awareness by assisting the businesses to implement appropriate controls and training to prevent the Bank from becoming subject to crime.
Communicate fraud alerts in timely manner to all relevant individuals (internal and external), to prevent further fraudulent activities.
Job Requirements/ Specification
As required by Job
No of Years
Area of work
As appropriate for the role
Compliance & Fraud Prevention
Intellectual and analytical skills of a high order
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 execute projects and collaborate with other departments
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.
Communicate fraud alerts in a timely manner to all relevant parties
Ability to make a real contribution in a rapidly changing environment and thrive on change and the need to learn rapidly.
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.
The strength of character, credibility and personal presence and the communication skills to operate confidently and effectively at senior levels both internally and externally.