Financial Crime Compliance Investigations

2 days ago

London, UK, United Kingdom Sumitomo Mitsui Banking Corporation – SMBC Group Full time

Background


As a regulated entity the Bank has both a regulatory and statutory obligation to ensure it implements systems and controls necessary to mitigate the risks of the firm being used in connection with money laundering and / or the financing of terrorism or fraud.


The role sits within the Banks 2nd line of defence and as such is responsible for supporting both Front Office and back-office departments by conducting detailed reviews of financial crime matters escalated to CPD – FCG. Working in partnership with 1st line teams to ensure that the Bank can undertake business whilst sufficiently mitigating any underlying financial crime risks.


Main interfaces/relationships: Head/ Deputy Head FCC, Manager of Financial Crime Investigations, Front Office / OAD staff within EMEA. Additionally, EMEA MLROs & RCCO on ad hoc basis.

Primary remit: 2nd line activities, as defined by CPD – FCG policies, in relation to financial crime investigations / reviews / referrals. To continually risk assess and escalate accordingly when required.

Secondary remit: Undertake role of SME for at least one area of financial crime as directed by Head of FCC. Provide advice, guidance, assistance and training to EMEA staff in line with SME responsibilities.


Purpose of Job

  • To conduct financial crime investigations and assist in identifying where the products and services offered by SMBC BI are or may be used for criminal activities.
  • Conduct reviews of individuals, corporate entities, business sectors, individual countries, products etc. to identify from a financial crime perspective any key risks the Banks may face.
  • Ensuring senior management are sufficiently informed and in possession of accurate information by collating MI and drafting reports.
  • To work closely with colleagues dealing with sanctions escalations and referrals and establish when a joint investigation is required.
  • To escalate referrals to the team manager of Financial Crime Investigations for advice and review.


Accountabilities & Responsibilities

  • Responding to enquiries from the business in a timely manner.
  • Work a part of team or individually analysing documentation, automated alerts, transactional data and conducting open-source research / screening. Identifying instances of fraud, trade based and other forms of laundering, PEP's, Anti-Bribery / corruption, Counter Terrorist Financing and potential sanction matters.
  • Providing advice and guidance to EMEA front office departments to mitigate financial crime risk associated with regards to current customers and proposed trades / transactions,
  • Provide support to, and conduct own investigations, including research in relation to internal staff investigations, money laundering, fraud, bribery & corruption and other financial crime which impacts the Bank across the EMEA region.
  • Detailing and summarising complex financial evidence into reports and statements tailored to target audiences.
  • Produce and provide analysis of the various reports from other Compliance areas, both qualitative and quantitative, of customers under active investigation.
  • Identify developing themes, assist in building control frameworks which proactively prevent or detect financial crime. Keep fully apprised of proposed changes to legislation,
  • Collate MI and draft reports in preparation for internal committees.
  • Draft Suspicious Activity Reports (SARs) for submission to the Nominated Officer/MLRO/NCA.
  • To provide support to Head of FCC, MLRO, RCCO, and General Counsel on an ad hoc basis in relation to Special Case Work projects for the EMEA region.
  • In conjunction with CPD Training unit produce and deliver specialist training with regards to Financial Crime across EMEA.
  • In addition to the normal responsibilities over the department in the EMEA offices, the role holder is responsible for day-to-day provision of services to SMBC London Branch based on the Agreement for the Provision of Services between SMBC London Branch and SMBC BI.


Knowledge, Skills, Experience & Qualifications

  • Understanding and practical ability to apply the management of financial crime risks within the UK Banking environment.
  • Inquisitive, motivated and highly trustworthy with an ability to work with the minimum of direct supervision, experienced in dealing with highly confidential material.
  • Ability to independently conduct complicated investigations assessing and verifying a multiple strand of data and documentation.
  • Ability to acknowledge that there is often a need to be a member of more than one team. Tactful, diplomatic, customer focused individual.
  • Strong written and verbal communicator, able to articulate and prepare detailed rationale.
  • Good understanding of the products and services offered by SMBC BI .
  • Strong understanding AML / Fraud Transaction Monitoring Systems.
  • Ability to act as Financial Crime SME on behalf of CPD-FCG.
  • Knowledge of Proceeds of Crime Act 2002, Bribery Act 2010, Fraud Act 2006.
  • Knowledge of the wider financial crime landscape – UK and global.
  • Well organised with excellent ability to prioritise conflicting work whilst retaining an excellent attention to detail.
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