Financial Crime Compliance

5 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 fraud related matters escalated to CPD – FCG. Working in partnership with all 3 LoDs teams to ensure that the Bank can undertake business whilst sufficiently mitigating any underlying fraud risks.


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

Primary remit: Undertake role of SME for fraud in the 2LoD, as defined by CPD – FCG policies, legislation and regulatory requirements. To continually risk assess and escalate accordingly when required. To work with relevant stakeholders across EMEA.

Secondary remit:. Provide advice, guidance, assistance, and training to EMEA staff in line with SME responsibilities.


Purpose of Job

  • To review the financial crime framework, systems and controls in relation to fraud and make recommendation for enhancements or changes.
  • To understand and have experience of Fraud Actimize and other fraud detection systems.
  • To contribute to fraud risk assessment at an enterprise-wide level.
  • Conduct deep-dive analysis on both actual and near miss fraud case to establish trends and identify changes to the Banks control environment.
  • To conduct financial crime fraud related investigations and assist in identifying where the products and services offered by SMBC BI are or may be used for criminal activities.
  • Ensuring senior management are sufficiently informed and in possession of accurate information by collating MI and drafting reports.
  • To work closely with stakeholders at all levels across the organisation in relation to the enhancement of anti-fraud controls and detection.


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 to identify instances of fraud and and where controls can be enhanced.
  • Providing advice and guidance to EMEA front office departments to mitigate the fraud / 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,
  • 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 where relevant.
  • In conjunction with CPD Training unit produce and deliver specialist training with regards to Fraud 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

  • Good understand of the fraud landscape in the UK and associated legislation.
  • Good understanding of the link with fraud and other areas of financial crime, including cyber related crime.
  • 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 fraud SME on behalf of CPD-FCG.
  • Knowledge of Proceeds of Crime Act 2002, Bribery Act 2010, and fraud legislation and the FCA requirements.
  • 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.
  • International Compliance Association (ICA), Certified Fraud Examiner (CFE) or other relevant industry recognised professional qualification in relevant financial crime field is preferred.

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