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Head of Enhanced Due Diligence
2 weeks ago
**Barclays Overview**
Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, globalcorporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.
It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, colour, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression,marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.
Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.
**We are an equal opportunity employer and we are opposed to discrimination on any grounds.**
About Financial Crime Execution
The CIB Financial Crime Execution (CIB FCE) team manages all elements of the financial crime agenda within the Front Office. The team works across a global footprint and is responsible for driving the financial crime goals and objectives of the bank withinthe relevant business units, working on helping to mitigate the risks of products and services being abused for the purposes of money laundering, terrorism financing, or other financial crime.
The CIB FCE remit covers Investment Banking, Global Markets, UK Corporate Banking as well as International Corporate Banking within Investment Banking. The emphasis is on execution of the policies and standards put in place by the Financial Crime Complianceteam within the second line of defence. Responsibilities include the day to day management of the financial crime agenda as it impacts the client lifecycle (onboarding, review and exit decisions) as well as oversight on behalf of the responsible executiveof the day to day controls and execution of risk appetite, with particular focus on good governance of high risk sector clients and special customer types.
CIB FCE also ensure good oversight on driving continuous process improvement in the execution of risk control activities, which includes ensuring that relevant KRIs are met and working closely with colleagues in Financial Crime Compliance and in BX to managethe whole lifecycle of the customer's interaction with the bank.
About EDD Team
The EDD team is responsible for the Enhanced Due Diligence reviews of ICB & Corporate Banking clients focusing on Correspondent Banking, MSBs/Fintech, On-Line Gaming, Politically Exposed Persons (PEP), clients involved in processing Cash and other High RiskSectors.
The EDD team sits within the first line of defence but acts independently of the coverage teams. Responsibilities include undertaking EDD reviews for refresh and on-boarding of clients involved in the sectors detailed above using internal, external and publicsource tools to understand the AML/Terrorist Financing/Sanctions/ABC risk profile of the clients.
EDD Managers are required to understanding of the risks of their sectors along with geographic risks and risks in the products clients have access to. The team act as Subject Matter Experts providing Specialist knowledge and Technical understanding to the business.
The team produce EDD Reports summarising reviews, identifying gaps in regulatory policy and material risks to the Bank. These reports are fundamental to assist senior management in making decisions to on-board, retain or exit clients. These are presented toRelationship Directors for review and then presented to the appropriate review forum by the EDD Manager for a decision to be made on whether to on-board, refresh or exit the relationship. The forums consist of senior management across the bank from Coverage,FinCrime, Business Management, Legal and Compliance.
The team is primarily based in London with resources in Birmingham, Hong Kong, Singapore, New York and Dubai. Clients are based globally and EDD Managers are expected to travel to meet clients either on their own or with the Relationship Director.
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- Overall purpose of role
- The role holder will set the EDD agenda and direct the team, delivering EDD for high risk clients across ICB and Corporate Bank, ensuring consistency across the business globally. This is a high profile role: the role holder will operate at a senior level,and significant financial and reputation risks exist if unsound judgement is applied.
- The current focus of the EDD strategy is managing EDD for the Correspondent Banking, Fintech/MSB, On-Line Gaming and PEP sectors.
- Delivering EDD processes for new segments such as Cash & Precious Metals and eMarketplaces will be a key deliverable of the role holder.
- Managing both internal and external audit reviews and discussions with regulators and other oversight functions will be a key part of the role.
- Identifying and delivering change to either improve the risk management and/or efficiency of the EDD process will be a key on-going objective of the role.
Key Accountabilities
**Team Leadership and structure - **Build and manage a global team, supporting and challenging team members to ensure they have the ability to deliver quality and consistently to target, whilst providing a positive client and colleague experience. Lead theove
