Financial Crime Officer

BMS Group; City Of London; On-site; GBP 45,000 - 60,000; Full time

Job summary

A global insurance broker is seeking a Financial Crime Officer to enhance their Financial Crime Compliance team. This role involves managing compliance processes, conducting risk assessments, and providing advisory support on legal obligations. The ideal candidate will have over 2 years of experience in financial crime compliance and excellent communication skills. This position is full-time and based in London.

Qualifications

• 2+ years experience in financial crime compliance, preferably in the (re)insurance industry.
• Knowledge and experience of application of UK, EU, US and UN sanctions.
• Ability to manage own workload and prioritise tasks.

Responsibilities

• Assist the Head of Financial Crime with the Annual Enterprise-Wide Risk Assessment.
• Manage the annual review of all financial crime related policies.
• Act as first point of contact for financial crime enquiries.

Skills

Financial crime compliance

Analytical and problem-solving

Interpersonal and presentation skills

Communication skills

Job description

Position Title: Financial Crime Officer

Reports to: Head of Financial Crime

Location: London

Tenure: Permanent / Full Time

About BMS

BMS is a dynamic, independent global broker established in 1980, delivering specialist insurance, reinsurance, and capital markets advisory services. Our purpose is to help people, businesses and communities flourish and prosper in a world of risk.

We are a global brand with offices located across the US, Canada, Latin America, Australia, Europe and Asia with both a strong local focus and understanding of market needs. Being independent gives our brokers the freedom to deliver the best solutions and combined with our collaborative team approach, single platform worldwide and renowned personal service, we are the independent broker of choice.

Summary of Position

This newly created Group financial crime role presents an opportunity for an individual wanting to develop their career and make a positive impact in BMS’ Financial Crime Compliance team.

Sitting in the 2nd line of defence, which has a global outreach, the Financial Crime Officer (FCO) will assist the Head of Financial Crime in embedding and where applicable operating BMS’ Financial Crime Framework across all BMS Pillars and Enabling Functions with particular emphasis on Sanctions, Anti-Bribery and Corruption, Anti-Money laundering/Counter-Terrorist Financing and Fraud prevention.

Responsibilities across Pillars and Enabling Functions

• Assisting the Head of Financial Crime with the Annual Enterprise-Wide Risk Assessment, ensuring the mapping of exposures and controls across BMS group, evaluating those controls, making recommendations and ensuring remediation is completed in a timely and effective way
• Managing the annual review of all financial crime related policies, procedures, minimum standards and guidance, promoting these for approval to the Financial Crime Committee where appropriate;
• Acting as first point of contact for financial crime enquiries and escalations from Pillars and Enabling Functions.
• Maintenance of BMS third party management framework and monitoring of payments including review and approval of new relationships and individual payments as required;
• Ensuring the timely delivery of accurate financial crime MI and committee reports to ensure senior management in Pillar, Enabling Functions and Committees have visibility of key risks & metrics and that financial crime matters are appropriately escalated and resolved.
• Liaising with local compliance resource as applicable, review gifts and hospitality activity and maintenance of gifts and hospitality controls;
• Undertaking local (UK) horizon scanning and receiving reports of change internationally to ensure BMS’ framework remains compliant with applicable laws and regulations;
• Review and delivery of financial crime training
• Providing advisory support regarding interpretation of legal and regulatory obligations, and industry guidance/best practice;
• Support and deputise for the Head of Financial Crime as necessary.

Personal Skills

• 2+ years experience in financial crime compliance, preferably in the (re)insurance industry;
• Knowledge and experience of application of UK, EU, US and UN sanctions;
• Demonstrate a high level of analytical and problem-solving capability and ability to resolve issues;
• Be proactive in identifying improvements to enhance the financial crime framework and ways of working;
• Ability to manage own workload, prioritising tasks appropriately and ensuring that agreed delivery dates are achieved;
• Work under own initiative;
• Excellent interpersonal and presentation skills with the ability to communicate and influence stakeholders at all levels;
• Excellent verbal and written communication skills.