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Financial Crime QA Officer

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Financial Crime QA Officer

  • Location:

    City of London

  • Sector:

    LMA UK Operations

  • Job type:

    Temporary & Contract

  • Salary:

    Negotiable

  • Contact:

    Kim Carmona

  • Contact email:

    kim.carmona@lmarecruitment.com

  • Job ref:

    366867_1642605559

  • Published:

    about 2 years ago

  • Expiry date:

    2022-01-26

  • Client:

    LMA

  • This new Quality Assurance AVP position has arisen within this international Bank, working within the first line of defence, in the three lines of defence model. The role is designed to improve the control within the Bank, by sample checking the work of the KYC team responsible for on-boarding new clients into the Bank, and conducting periodic due diligence on all existing clients, using a risk-based approach.
  • Quality assurance activities will also include Event Driven Reviews, Interim Reviews, and Updates across all businesses.
  • To provide both direct and thematic feedback to support continuous improvement.
  • The success of this role will result in reduced control incidents raised by compliance and an upskilling in the quality consistency, and standardisation of KYC Analysts and Checkers.
  • The function of this role is to retrospectively sample check the work completed by KYC Analysts responsible for processing KYC files to on-board new clients into the Bank or the review of existing relationships.
  • The role is similar to the KYC Checker role in that the QA officer will check the work completed by KYC Analysts and Checkers on a sample of KYC files. This will include the investigation, vetting and approval of documentation concerning the client's ownership structure and ultimate beneficial owner; will also include the identification, screening and investigation of any associated PEP's, assessing the rationale for their classification; will include checking the screening and classification of news articles and checking written rationales to support the decisions made.
  • This role will have a close working relationship primarily with RM's EMEA wide. The role will include validating RM related work for quality, consistency, and accuracy of client documentation to ensure that the KYC process is high quality end to end. The interaction with the RM will also include taking on feedback from the RMs and recommending mitigation where issues have been escalated or a feedback theme emerges.
  • Provide MI and feedback on quality of individual KYC Analysts and Checkers within the BAU functions, with recommendations for intervention where required.
  • The role will need to work closely with all areas of the Financial Crime Group (MLRO / Sanctions / Forensic), to make recommendations and to receive advice and guidance.
  • The role is required to support the QA Section Manager in defining and delivering training and development of less experienced QA Officer staff and new QA Officer starters.
  • The ideal candidate requires an excellent understanding of the regulatory framework associated with Financial Crime / Sanctions / AML and to keep abreast of the changes to this.
  • Previous experience (minimum 4 years working experience) within a CDD team in a financial institution, or
  • Externally recognised qualifications in relation to AML and customer due diligence are preferable. (e.g. ICA Certificates / ACAMS)