AML & Financial Crime Assistant Vice President

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

We are looking for an AML & Financial Crime Assistant Vice President to join our team. In this role you will:

• Act within the first line of defence, in the three lines of defence model. The role is designed to  protect the Bank by identifying Financial Crime and Sanctions risks associated with the onboarding of new clients into the Bank, and conducting periodic due diligence on all existing clients, using a risk based approach.
• Ensure that the client information registered in the KYC systems are consistent and have been correctly completed. This includes any customers classifications required for regulatory purposes. The role will also ensure that the correct regulatory notices and customer communication have been stored and where necessary have been correctly acknowledged by the customer.
• Escalate and formally report any client, or client activity which appears to expose the Bank to any Sanction or Financial Crime risks to the second line for advice / guidance.

The anticipated salary range for this role is £44,000-£66,000, with the final offer determined based on the candidate’s skills, experience, role scope, location, and relevant market factors. In addition to base salary, the role may be eligible for a discretionary incentive award and a competitive benefits package, including core benefits such as pension provision.

Background

• The function of this role is to process client KYC files, in relation to the onboarding of new clients into the Bank, and the amendment update and Periodic Review of the existing client population.
•  This includes but is not limited to the investigation and documentation of the client’s ownership structure and ultimate beneficial owner. The identification and investigation of any associated PEP’s providing detailed rationale of their materiality and classification for approval by the MLRO. The examination and classification of negative news articles and the rationale for the classifications, including the ongoing monitoring of serious negative news articles. The checking and where necessary escalation of any sanctions related exposure, the purpose and nature of the engagement and the clients underlying business profile. The role will also be required to check and liaise with the Relationship Managers in regard to their KYB answers and the quality, consistency, accuracy and suitability of client documentation. The role will also need to review the risk calculations and consider its suitability, or whether a written representation should be made to the MLRO for a RAM override to more accurately reflect the client’s perceived risk. Should the risk be deemed as high, the holder of the role will need to check the RM’s enhanced due diligence assessment.
• In addition the holder will be required to check and approve all the relevant  Mifid classifications, required regulatory letters, Fatca / CRS classifications, and products selected.

• The role will need to liaise with the CPD Financial Crime Group (MLRO / Sanctions / Forensic), as a point of escalation, or to receive advice and guidance.
•  The role will also need to liaise closely with other OAD operational teams about the status of new account openings for time critical deals, or for further product related information

• Provide MI in relation to the files under their control and their ACCORD status to the FCMO KYC Supervisors.

Facts / Scale

• This role has no direct reports from a management / snapshot perspective.
• This role may have contact with FCMO teams EMEA wide for information sharing and cooperation re client data, where GIC processes are in place.
•  The role will have daily interaction with representatives of the Front Office, providing help and advice in relation to KYC requirements and the documentation to be sourced.
• There will be daily interaction with the Financial Crime Group of CPD, especially the MLRO, where files are escalated for approval in relation to PEP / Negative News assessments, or where FCMO are seeking general guidance and advice. If Sanctions or other Financial Crime aspects are identified, escalations and collaboration will be made with the CPD FCG Sanctions and Forensic teams.

Position Description

• Analyse FO submissions for new client onboarding or client periodic reviews, ensuring adherence to the CPD AML / CTF Standards, regulatory guidance and internal policies.  Where necessary ensuring timely escalation to the relevant second line for further advice and guidance.
• Where required participate in the on the job training of new staff to the team, ensuring that they obtain a full understanding of the systems used as part of their role and the policies and procedures to be followed. 
• Participate as directed in the remediation of files identified as requiring additional work by the Compliance Monitoring reviews, ensuring that the remediation is fully completed within the allowed timescale and any issues are escalated as soon as identified.
• Attend meetings with the Front Office teams as required, providing help and guidance in relation to KYC matters and where necessary working within the Front Office teams for short periods to assist RM’s in the use of the systems or the completion of their tasks within the Periodic review process.
• Proactively contribute to improved Departmental performance, by identifying weaknesses / inefficiency in systems, workflow and processes, suggesting enhancements and quantify the efficiency gains, be that from a financial perspective, or from a customer experience / security aspect.
• To participate in any ongoing projects as directed and required. This includes system development testing and implementation.
• Prepare MI as directed to be used for reporting purposes 
• Ensure that change in process is reflected in the sections procedures.

Qualifications

• The role requires a good understanding of the regulatory framework associated with Financial Crime / Sanctions / AML and to keep abreast of the changes to this.
• Previous experience of working within a CDD team in a financial institution would be a benefit
• Externally recognised qualifications in relation to AML and Customer Due Diligence are desirable, but not a prerequisite (e.g.  ICA Certificates / ACAMS)
• The role requires excellent communication skills both written and verbal and the ability to communicate complex issues and regulatory requirements to all levels of the organisation.
• Ability to collaborate and work within a team, supporting others to ensure the overall team objectives are achieved.

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!