Our client is seeking a senior Financial Crime specialist to support its newly established second-line Financial Crime function. The consultant will help strengthen the enterprise-wide approach to financial crime, providing oversight and assurance across areas including AML, bribery and corruption, fraud, terrorist financing, conduct risks, proliferation financing, tax evasion and cyber-enabled financial crime.

This is primarily an oversight, assurance and preventative controls role, rather than an investigations position. The consultant will assess areas of vulnerability, challenge existing controls, develop appropriate policies and preventative measures, and provide direction to the business. As the function is relatively new, RMA requires someone senior enough to help establish and mature the capability rather than simply operate an existing framework.

Key Activities

• Provide second-line oversight and assurance across the Financial Crime framework: AML, terrorist financing, proliferation financing, bribery and corruption, fraud, tax evasion and other financial crime domains.
• Assess business areas for exposure to financial crime risk.
• Develop and manage the risk-based Financial Crime Assurance Plan and Assurance Universe.
• Plan and execute thematic, targeted and risk-based assurance reviews.
• Develop and strengthen preventative controls.
• Review and provide direction on financial crime policies.
• Review the RMCP, Financial Crime policies, ABC Policies, standards and governance arrangements for alignment with applicable regulatory requirements.
• Challenge business stakeholders where controls or processes are inadequate.
• Review and test the adequacy and effectiveness of financial crime controls and provide assurance across areas including:
• Financial Crime Risk Assessments (AML, ABC , Fraud Risk Assessments);
• CDD, EDD, UBO and ongoing due diligence;
• PEP/PIP and sanctions screening;
• Transaction and high-risk claims monitoring;
• Fraud prevention controls and assessments.
• Regulatory reporting and record-keeping;
• Anti-bribery and corruption controls including third-party due diligence; gifts and hospitality and conflicts of interest; and
• Training and awareness
• Suspicious Reporting and other related financial crime reporting obligations.
• Identify control weaknesses, root causes and emerging financial crime risks, and provide constructive challenge and recommendations.
• Maintain appropriate assurance evidence and working papers and develop clear, evidence-based conclusions.
• Report material findings, trends and assurance outcomes to senior management, Executive and relevant Board governance structures.
• Track the remediation and management action plans.
• Help establish an integrated enterprise-wide view of Financial Crime risk.
• Engage with investigations and other assurance providers while maintaining second-line independence.

Your Background

Essential

• Senior-level Financial Crime experience within financial services.
• Degree or Post Grad in Compliance, Audit qualification or Risk qualification.
• Strong understanding of Financial Crime from a second-line oversight and assurance perspective.
• Experience with broader Financial Crime frameworks with a strong understanding of its regulatory and governance requirements.
• Knowledge of money laundering, terrorist financing, proliferation financing, bribery and corruption and fraud.
• Experience in conducting risk-based or thematic assurance reviews and reaching evidence-based conclusions.
• Experience in assessing and testing controls and understanding of testing methodologies.
• Ability to identify control weaknesses and recommend preventative measures.
• Strong stakeholder management and communication skills.
• Ability to provide direction and challenge business stakeholders.
• Experience within financial services, particularly insurance or banking.
• Strong understanding of regulated financial services environments.

Desirable : 

• Financial Crime experience within related regulators such as FIC, PA or FSCA.
• ACAMS/ ICA Financial Crime Certification/CFE.
• Certified Financial Services Auditor (CFSA)
• Experience establishing or maturing a Financial Crime Assurance capability.
• Experience developing assurance plans, testing methodologies, sampling and working papers.
• Experience reporting to Executive or Board-level governance structures.
• Combined assurance experience.