Financial Crime Associate
Posted on Aug 1, 2019 by CV-Library
Every year we help 620,000 people to resolve their debt problems and rebuild their lives. We employ over 1,500 colleagues and in our 26-year history we've helped millions of people on their journey to becoming debt free.
Right now, we're working to deliver an ambitious four-year strategy which will see us helping more people, responding to changing client needs, and working closely with our partners to reduce the harm of problem debt.
What you will be doing
This is a crucial role in determining the success of our growth plans. Within this role you would work with the charity's Financial Crime Officer reporting to our Head of Regulatory Finance.
Conduct due diligence searches/investigations to confirm positive identities of our clients and or third parties who fail initial checks using multiple third party and multiple internal databases due to charity wide responsibilities.
All client and third parties that are highlighted as PEP's (Politically Exposed Persons) are to be reviewed with third party verification to external databases and registers, where a client is found to be a genuine PEP, EDD (as opposed to CDD) will need to be completed and continual monitoring for the life of the plan / business relationship is required.
All client and third parties that are highlighted as potential Sanctions (either politically (terrorism) or financially) are to be reviewed with third party verification to external databases and registers. Where a client is found to be a genuine Sanction, notify the MLRO & Financial Crime Officer providing detailed analysis of findings and follow the legal and regulatory guidance to ensure any next steps are completed correctly.
Work closely with departments to ensure that adequate AML checks are conducted in accordance with the responsibilities under Anti-Money Laundering Regulations and the Terrorism Act.
Work closely with departments in ensuring controls around source of funds checks are adhered to in line with UK & EU regulations.
Assist the Financial Crime Officer in the collation and provision of monthly and ad hoc statistical reporting.
Data gathering and analysis in preparation for 6 monthly AML risk assessments for approval in accordance with the legal template guidance.
Experience and knowledge
Knowledge and understanding of Money Laundering Regulations (and implementing legislation), and other relevant regulations governing AML, SARS and conflicts of interest, namely governed through:
The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 linked to the Fourth Money Laundering Directive 2017 and further regulation updates.
The Proceeds of Crime Act 2002 (as amended by the Crime and Courts Act 2013 and the Serious Crime Act 2015)
The Money Laundering Regulations 2007;
The Terrorism Act 2000 (as amended by the Anti-Terrorism, Crime and Security Act 2001, the Terrorism Act 2006 and the Terrorism Act 2000 and Proceeds of Crime Act 2002 (Amendment) Regulations 2007)
Proven analytical, planning, problem solving and decision-making skills
Knowledge of FCA regulatory requirements including CONC, CASS, SYSC, SUP as well as SIP in relation to IVA and working in a regulated environment
Understand the roles and responsibilities within the charity and its subsidiaries operational departments, including internal systems and processes
Skills and abilities
Be self-motivated, driven, enthusiastic and proactive
An individual able to work long periods by themselves as well and able to be an effective and committed team player who works collaboratively with others across the charity group
Excellent organisational skills and a high attention to detail ensuring data integrity and strict confidentiality.
Ability to manage several work streams while maintaining tight regulatory deadlines.
Very strong oral and written communication skills with experience of internal and external (third party) reporting. Offering constructive problem resolution.
High level of IT literacy and the ability to pick up multiple complex IT systems (internal and external) quickly.
Ability to work effectively with all levels of personnel with tact and diplomacy.
We value our colleagues
We don't just care for our clients and those people who contact us for help. We also value our colleagues, and this role comes complete with a generous benefit package which includes:
24 days annual leave (this increases by one day per year up to a maximum of 29), plus bank holidays
The ability to buy and sell annual leave
Travel season ticket loans
Group personal pension scheme
Westfield Health cash plan
Employee assistance programme
Long service awards