AML Compliance Specialist

1 month ago

London, Greater London, United Kingdom Ballinger Group Full time
AML & Compliance Specialist

We are seeking a highly skilled AML & Compliance Specialist to join our team at Ballinger Group in London. As a key member of our compliance team, you will play a vital role in ensuring our firm remains fully compliant with client onboarding regulatory requirements and the compliance lifecycle.

About the Role

The successful candidate will be responsible for:

  • Gathering and analysing customer information to complete the KYC (Know Your Customer) process.
  • Verifying the identity of clients using prescribed documentation and processes.
  • Collecting necessary documents from new clients and ensuring all data is accurate.
  • Approving or rejecting applications based on the company's compliance policies.
  • Keeping up to date with regulatory changes and requirements related to KYC procedures.
  • Communicating with clients to obtain missing documentation or data.
  • Updating and maintaining client records in the company's database.
  • Conducting risk assessments on new clients.
  • Assisting with internal audits and regulatory inquiries.
  • Providing regular reports to management about the onboarding process.
  • Collaborating with other departments like sales and customer service to ensure efficient onboarding.
Enhanced Due Diligence (EDD)
  • Conducting in-depth reviews of high-risk customers and transactions.
  • Gathering additional customer information to establish their source of wealth and funds.
  • Analysing customers' transaction patterns and behaviour for any suspicious activities.
  • Liaising with customers to obtain necessary EDD information and documentation.
  • Preparing and presenting detailed EDD reports to senior management.
  • Collaborating with compliance and legal teams to ensure EDD procedures are up to date with regulatory changes.
  • Conducting ongoing monitoring of high-risk customers and reporting any changes in risk levels.
  • Escalating potentially suspicious activities to the appropriate internal teams for further investigation.
  • Utilizing financial intelligence and customer data to inform EDD processes.
  • Ensuring the confidentiality and security of customer information gathered during the EDD process.
Transaction Monitoring (TM)
  • Monitoring the departmental queues for alerts on a regular basis throughout the working day ensuring management are aware of outstanding alerts at end of day.
  • Being familiar with the departmental systems/processes and their implementation.
  • Reviewing transaction monitoring alerts in line with prescribed procedures:
    • Investigating the individual alerts to determine if there is a potential suspicious transaction involved.
    • Following the recommended standard investigation steps.
    • In addition, assessing if there is anything else unusual about a transaction, particularly based on experience of previous transactions.
    • Assessing the transaction in the context of previous transactions and the client's business/purpose of the account – if necessary reviewing the client file.
    • Assessing the relevance of the geographies of the remitter and beneficiaries of the transaction.
    • Where there are grounds for suspicion or a requirement for guidance in relation to an alert, escalating in line with the procedures.
  • Creating and maintaining accurate and concise records of all investigations undertaken including details on the rationale for any decisions made.
  • Seeking to build an understanding of the profile of customers highlighted through the transaction monitoring alert process.
  • Assisting with the preparation of departmental Management information reports.
  • Providing input to the maintenance of the departmental procedures.
  • Providing advice and support to the business units on the identification of areas of risk as a result of transaction monitoring trends.
  • Any other associated duties required from time to time to meet the departmental responsibilities and goals.
Requirements

To excel in this role, you should have:

  • Fluent in English.
  • Experience working in AML/Compliance roles in the financial services industry, preferably within the investment services sector.
  • An analytical mindset with exceptional problem-solving skills and keen attention to detail.
  • Strong multitasking and prioritization capabilities.
  • A constant willingness to improve and learn, staying proactive in staying up-to date with industry trends.
  • Knowledge of complex corporate structures and funds would be considered an asset.
  • Familiarity with financial regulations affecting financial services firms and Malta Financial Services Authority rules would also be an advantage.
Benefits

We offer a competitive salary package, which includes comprehensive benefits such as:

  • Health insurance coverage for you and your dependents.
  • Death in Service Cover.
  • Performance-related bonuses and incentives.
  • Professional development opportunities to support your growth.
  • A collaborative and inclusive work environment that values your contributions.

If you are passionate about AML/Regulatory Compliance and making a positive impact in the financial services industry, we invite you to join us at Ballinger Group as our AML & Compliance Specialist. Together, we will continue to drive growth and success while delivering outstanding results for our clients worldwide.

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