AML and CDD Officer

3 weeks ago

Milton Keynes, Milton Keynes, United Kingdom Allica Bank Full time

About Allica Bank

Allica Bank stands as the UK's rapidly expanding institution, recognized as the leading financial technology (fintech) enterprise. Our mission is to empower established SMEs, a significant yet overlooked segment in the fintech landscape. These SMEs are crucial to local economies, contributing over a third of our economic activity, yet they have been largely ignored by both traditional banks and contemporary fintech solutions.

Department Overview

The Operations division in banking, akin to other sectors, is designed to manage all routine transactions of the organization. Within Allica, the Operations team holds extensive responsibilities, supporting customers across various product lines, including Commercial Mortgages, Asset Finance, Deposits, and Payment Accounts, along with associated card activities. Our primary focus is to ensure compliance with all pertinent regulatory standards and our internal policies at all times:

  • Streamlined digital account initiation and ongoing servicing.
  • Customer engagement through telecommunication, email, and in-app messaging.
  • Payment processing and reconciliation tasks.
  • Treasury management operations.
  • Customer due diligence via Know Your Customer and Know Your Business protocols.
  • Management of the lending pipeline.
  • Quality assurance and oversight.
  • Resolution of issues.
  • Efficient record maintenance and data management.
  • Support for all change initiatives.

Role Overview

The role involves executing all CDD activities to facilitate the onboarding and continuous review of both Retail and SME clients. The individual will ensure the operationalization of all necessary AML activities in collaboration with the 2nd Line Risk and Compliance teams and the MLRO, focusing on risk management and adherence to regulatory standards while prioritizing the interests of customers, employees, and key stakeholders. Responsibilities include daily 1st Line CDD activities, validating decision quality with external agencies, and conducting comprehensive reviews to make informed decisions on complex CDD cases that exceed system parameters. The role also entails checking relevant inward and outward payments, ensuring compliance with documented processes and maintaining high levels of customer service in accordance with Treating Customers Fairly principles and applicable regulatory guidelines.

Key Responsibilities

  • Establish and maintain a premier CDD record and review framework, ensuring accurate and organized documentation in line with established procedures.
  • Implement and uphold an AML record and review framework, ensuring meticulous documentation management.
  • Continuously review CDD processes to identify and flag key failure points.
  • Develop and implement a CDD reporting dashboard aligned with operational and reporting requirements.
  • Ensure that controls and checks are effectively managed to guarantee timely and accurate completion of all activities, including exception management and reconciliations, while escalating issues to the Head of Operations.
  • Act as a subject matter expert in CDD and AML, collaborating with project teams to ensure that relevant responsibilities are adequately addressed.

Qualifications & Experience

  • Expertise in CDD and AML practices, with a proven track record in KYC policy and control management.
  • Strong understanding of FCA, PRA regulations, and JMLSG guidelines.
  • Capable of managing and approving CDD and EDD cases within designated authority, with appropriate escalation to the MLRO.
  • Adept at reviewing CDD records for accuracy and compliance with AML regulations, including updates for existing clients.
  • Experience working with diverse entity types, including complex SPVs, charities, trusts, and SMEs with intricate business structures across multiple jurisdictions.
  • Skilled in establishing beneficial ownership within entities, conducting necessary checks such as PEP, sanctions, and adverse media, and maintaining PEP registers.
  • Proficient in liaising with internal departments and serving as a point of contact for clients to resolve inquiries, with experience in managing outsourced and multi-site operations.
  • Demonstrated ability to develop and implement strategies to identify and mitigate CDD and AML risks.
  • Experience in enhancing the customer experience related to CDD and AML processes.

Working at Allica Bank

At Allica Bank, we prioritize equipping our employees with the necessary tools and environment to thrive in their roles and support our customers effectively.

Our employees are central to our operations, and our benefits are tailored to meet their needs:

  • Comprehensive onboarding support and ongoing development opportunities.
  • Flexible working arrangements.
  • Regular social engagement activities.
  • 25 days of annual leave, with options to buy or sell days.
  • Pension contributions.
  • Discretionary bonus scheme.
  • Private health insurance (with options for family coverage).
  • Life insurance.
  • Income protection plans.
  • Family-friendly policies, including enhanced maternity and paternity leave.
  • Season ticket loans.

Inclusivity

We embrace diversity at Allica Bank, valuing the unique experiences, backgrounds, and lifestyles of our team members. Our commitment to openness and inclusivity strengthens our organization, and we encourage everyone to bring their authentic selves to work.

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