£25000 - £30000 per annum
4 months ago
Our client, an international bank based in the West End of London are looking to recruit a Compliance Officer to join their expanding Compliance Department. The role involves assisting on a daily basis, the bank's Head of Compliance Risk Management and MLRO in ensuring that the Bank implements and adheres to the relevant rules and regulations that the bank is bound to comply with. You will assist in developing the compliance culture in the Bank and promoting good compliance practices in all aspects of your work.
Main responsibilities will include;
- Assist with the preparation of AMLOC papers and collating information from TTM and COBR and RM's. To accumulate data to complete KRI information for AMLOC.
- Maintain the Bank's Suspicious activity reports files and maintain a summary record of reports internal and external.
- Assist with HRMC the management of the Compliance monitoring programme; producing reports and making recommendations; identifying compliance risks associated with the business activities of the bank and proposing mitigation. Follow up on resolution of Compliance issues that may arise from monitoring and any remediation required with clear recommendations and timelines.
- Assist the Head of Compliance and Risk Management with the maintenance of the Bank's SMR records policies and all relevant documents. This includes administering staff declarations, certifications and any other relevant signed documentation to meet the bank's obligations under the SMR
- Assist in representing compliance in the new product approval process at UK and global levels.
- Review material and client communications for compliance with Banking Conduct of Business (BCOB), Mortgage Conduct of Business (MCOB), Payment Service Directive (PSD) and other regulatory requirements and the bank's policies and standards for communications and marketing material.
- Review one-off and unusual transactions to protect the Bank against money laundering and to mitigate other legal, regulatory and reputational risks and report to the MLRO or his deputy
- Ensure that any sensitive issue is escalated to the appropriate channels with your sound analysis and recommendations.
- Design and perform compliance monitoring/surveillance duties when required in accordance with the compliance monitoring plan for the Corporate Banking, Trade Finance and Treasury business units.
- Provide training to the Bank staff on compliance, regulatory and reputational risks related to products and client services and other subjects relevant to compliance.
- Assisting with on and off-site compliance monitoring reviews of the Bank and various business units including detailed file reviews of the Mortgage and Corporate client's to assess the profile, risk classification and performance.
- Assisting the Money Laundering Reporting Officer and Deputy MLRO on the bank's AML activities including the reporting of suspicious transactions.
- Ensuring all Compliance policies and procedures are reviewed and reporting any overdue reviews in the relevancy to MRC & AMLOC reports. To maintain a schedule of policies and procedures for review.
- Maintaining the breaches and errors register, Gift Register, complaints register, legal order register, production order register, Suspicious Activity Report register
- Submission of Suspicious Activity Reports to the National Crime Agency (NCA)
- Pro-actively identifying and escalating to the Head of Compliance/MLRO regulatory risks and issues;
- Build and maintain professional relationships with business functions to ensure effective co-operation, communication, and seek opportunity to promote higher regulatory standards and awareness;
- Assisting with the development and implementation of an enhanced monitoring programme for high risk clients and engaging regularly with various business units within the bank to discuss issues pertaining to reputation risk, transactions and account profile.
- Maintenance of the of the reports/review and summary of regulatory updates, guidance and FCA policy statements and consultation papers and report the same to MRC monthly
- Undertaking other relevant duties as specified by the Head of Compliance/MLRO;
This is a fantastic opportunity for a graduate who has 6-18 months compliance experience, to join an international bank and become an significant member of the bank/compliance department.