Senior Manager Economic Crime Risk

Commonwealth Bank; Sydney; On-site; AUD 140,000 - 190,000; Full time

Job summary

Commonwealth Bank is seeking an experienced Economic Crime Advisor to join the Economic Crime Risk (ECR) team in Sydney. You will contribute to the management of AML/CTF, sanctions, anti-bribery and corruption, and related financial crime controls through policy guidance, frameworks, and complex escalations.

You will report to the Executive Manager Economic Crime Risk, Economic Crime Services, and work with stakeholders to design process improvements, provide expert advisory, and escalate

Qualifications

• Significant experience in compliance advisory, AML/CTF or Fraud and Scam processes including Transaction Monitoring and Customer Onboarding and Customer Due Diligence.
• Thorough understanding of the financial crime regulatory framework with practical knowledge of AML / CTF requirements.

Responsibilities

• Execute economic crime risk strategy and support AML/CTF law reform initiatives.
• Proactively identify, manage and mitigate economic crime risks across the business.
• Provide quality advisory on KYC, Transaction Monitoring, Investigations and CDD processes.
• Participate in risk assessments and forums as required.
• Assist with action plans to address identified issues relating to economic crime.
• Develop controls and training for compliance with the economic crime policy framework.
• Review and assess effectiveness of existing controls.
• Collaborate with ECR teams and other stakeholders to provide support and guidance.
• Forge relationships within the Economic Crime Risk community and internal stakeholders.

Skills

Compliance advisory

AML/CTF

Fraud and scam

Transaction Monitoring

Customer Due Diligence

Stakeholder management

Change management

Decision making

Education

Tertiary qualification in business/finance/law or ACAMS

Job description

• High visibility opportunity and direct engagement with Senior leader exposure

The Economic Crime Risk (ECR) team is accountable for the management and oversight of the Group’s economic crime risk framework.

You will be part of the wider Economic Crime Risk team which is driving the Group’s approach to managing AML / CTF, Sanctions, Anti-Bribery and Corruption and Anti-Tax Evasion Facilitation, Fraud and Scam risks and obligations through the provision of policies, frameworks, regulatory engagement, advice, assurance and complex escalations.

Do work that matters

Reporting to the Executive Manager Economic Crime Risk, Economic Crime Services, you will work closely with various stakeholders and colleagues to support the Group in the effective and efficient management of financial crime.

You will work closely with stakeholders in Economic Crime Services and Risk colleagues to provide economic crime related advice on process re-design, and change initiatives and be an escalation point on matters relating to financial crime compliance.

You will be required to forge strong relationships with members of the financial crime community both internally and externally as well as other stakeholder groups to drive outcomes.

On any given day, you will

• Contribute to the execution of economic crime risk strategy and the implementation of new processes to support AML/CTF Law Reform.
• Support internal stakeholders across the Group to proactively identify, manage and mitigate the economic crime risks of the business.
• Providing quality advice to support process uplift for key economic crime controls across KYC, Transaction Monitoring and Investigations, and Customer Due Diligence processes.
• Participate in relevant risk assessments / reviews and forums as required.
• Assist the business to develop and execute appropriate action plans to address identified issues relating to economic crime.
• Assist the business to develop controls (including procedures and training) to enable compliance with the Group’s economic crime policy framework.
• Review and assess effectiveness of existing controls.
• Work collaboratively with other ECR teams and provide relevant support and advice as required.
• Forge strong relationships with members of the Economic Crime Risk community, as well as other internal stakeholders.

We’re interested in hearing from people who have

• Significant experience in compliance advisory, AML/CTF or Fraud and Scam processes including Transaction Monitoring and Customer Onboarding and Customer Due Diligence, ideally within Banking and Financial Services.
• Thorough understanding of the financial crime regulatory framework with practical knowledge of AML / CTF requirements.
• Sound knowledge of Transaction Monitoring and Investigation processes and Customer Onboarding journeys.
• Excellent stakeholder management skills with proven ability to influence large senior stakeholder groups to support investment decisions
• Demonstrated strong judgement and decision-making capabilities
• Experience proactively uplifting capability, driving change and leading continuous improvement initiatives through to successful implementation
• Tertiary qualification in business/finance/law or a relevant industry certification/accreditation (i.e. ACAMS) is desirable

You’ll have a highly valued and visible role. With exposure to complex matters and a variety of stakeholders across the business. From here, the opportunities are endless.

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