Financial Crime & Fraud Manager

Bank of London; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A prominent financial institution in London is seeking a Financial Crime & Fraud Manager to oversee compliance and risk related to financial crime. The ideal candidate will have proven experience in financial services, strong relationship-building skills, and knowledge of regulatory frameworks. This full-time position requires professionalism and expertise in financial crime risk management.

Qualifications

• Proven experience in a similar role, ideally as a DMLRO within a financial services fintech bank.
• Strong experience in compliance-related risk assessment.
• Familiarity with FCA reporting requirements.

Responsibilities

• Build and strengthen relationships with the business using financial crime risk expertise.
• Maintain the UK financial crime policy framework and program.
• Support MLRO with root cause analysis of financial crime incidents.

Skills

Relationship building

Financial crime risk expertise

Compliance knowledge

Risk assessment

Job description

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Bank of London offers a safer business banking model by holding all deposits at the Bank of England, eliminating the risk of 'bank runs.' It provides services such as Deposit, Embedded Banking, as well as Commercial Banking tailored to businesses. Powered by proprietary technology, the bank collaborates with SAP Fioneer to deliver innovative solutions. With a focus on exceptional service and core values of ownership, curiosity, the bank strives for excellence in all it does. As part of the 2nd Line of Defence, the Financial Crime Risk Team sets the Bank's Financial Crime Risk Policies and Standards framework, is responsible for monitoring and oversight of compliance with policy requirements, providing subject matter expertise advice and guidance, and internal and external reporting obligations. In this important role, the Financial Crime & Fraud Manager will directly report to the Financial Crime Risk Director & MLRO (MLRO) and support with the maturing and embedding the UK Bank's financial crime risk framework, liaising with key stakeholders, and providing advice and challenge to the 1st line of defence teams. Oversight of the firm's financial crime compliance and risk management approach. Ensuring the business effectively mitigates the risks of products and services being abused for the purposes of money laundering, terrorism financing, or other financial crime.

Responsibilities

Your most important objective will be to build and strengthen relationships with the business using your financial crime risk expertise and your relationship building skills, to support and act in a trusted advisory capacity for the UK Bank. In addition, you will:

• Maintain and oversee the UK financial crime policy framework and program, ensuring alignment with UK regulations, including AML, CTF, Sanctions, KYC/CDD, and EDD.
• Ensure all applicable policies and procedures are in place, updated in line with legislative requirements and industry guidance and approved by senior Management/Board as necessary.
• Support the MLRO Incidents and Issue Management by assisting with root cause analysis of financial crime incidents and ensuring effective remediation plans are executed for the UK market. Ensure incidents are tracked and resolved within appropriate timelines.
• Deputise for the MLRO when necessary, ensuring strong oversight of financial crime operations across AML, Fraud, Sanctions, KYC/CDD, and EDD.
• Conduct ad hoc internal reviews in operational areas to identify operational weakness and inadequate controls, which might give rise to financial loss or other operational risks.
• Ensure prompt investigation or internal suspicious activity reports (SARs) and ensure the timely submission of external SARs.
• Support the MLRO as a liaison to the Financial Intelligence Unit (NCA)
• Maintain relationships with the Financial Conduct Authority (FCA) and other regulatory bodies as appropriate and promptly respond to any request for information.
• Collaborating with the Group 1LOD Financial Crime team and senior stakeholders to evaluate and mitigate compliance risks
• Support the design and delivery of training for compliance and operational teams on AML, CTF, and broader financial crime controls, ensuring staff are equipped to manage evolving risks and that UK rules and regulations are understood by those building controls and/or following procedures built to meet UK requirements and regulatory expectations
• Support the MLRO on the preparation of the Board Pack, all relevant financial crime issues, and escalation of essential or high-risk issues.
• Supporting product launches by ensuring regulatory requirements are identified and addressed
• Partnering with cross-functional teams to implement compliance requirements and manage regulatory obligations
• Support the Bank of London Head of Fraud on the review of the fraud controls related to APP Fraud and Failure to Prevent Fraud.

What you will bring

Be a results-oriented, self-driven individual with passion, enthusiasm, and the ability to influence at all levels.

Previous Experience:

• • Proven experience in a similar role, ideally as a DMLRO, second line Financial Crime position within a financial services fintech bank and payment institution.
  • Risk Assessment:
    • Proven experience in compliance-related risk assessment, such as Business-Wide Risk Assessment and Enterprise-Wide Risk Assessment.
  • Control Testing:
    • Strong experience in control testing projects or quality assurance controls.
• FCA Reporting:

Familiarity with Financial Conduct Authority (FCA) reporting requirements, ensuring timely and accurate submissions in line with regulatory expectations.

Location

• London (5 days a week)
• Travel to other locations may be required as necessary.

Diversity

Bank of London is an equal opportunity employer committed to inclusion, diversity and belonging. All qualified applicants are welcome and will receive consideration for employment without regard to race, colour, age, religion or religious expression, sex, sexual orientation, gender or gender identity and expression, transgender, national origin, or military veteran status.