International Bank based in the Docklands, are looking to recruit a new Risk & Controls Manager to join their expanding London office. The Risk & Controls Manager is responsible for providing support to the Chief Commercial Officer (CCO) to manage the Financial Crime and Compliance risks within the Wholesale Currency Services business and acting as a broader 1st line risk champion.

Main Responsibilities of the position will include;

• In conjunction with Senior Managers within WCS, lead the onboarding of any new to bank Counterparties including securing CDD and KYC information (applying simplified, standard and enhanced due diligence), performing screening and risk rating and presenting the counterparty for sign off to the Chief Commercial Officer.
• In conjunction with Senior Manager withing WCS manage and maintain the periodic review schedule, undertaking periodic reviews and trigger reviews as appropriate including securing CDD and KYC information, performing screening and risks ratings for sign off to the Chief Commercial Officer.
• Undertake Correspondent Relationship risk assessments on any Corresponding Banking Relationships, performing customer sites visits to undertake a full Financial Crime risk assessment of the Correspondent Relationship.
• Undertake enhanced desktop reviews on higher risk counterparties
• Maintain robust records of all Correspondent Relationship site visits on the Customer KYC file including: Name of the customer; Date and location of the visit; Rationale for jurisdictions/locations not visited; Name and title of attendees & Written summary of the visit (topics discussed, interviews held with senior management and compliance, documentation reviewed etc.)
• The record of the site visit and information obtained must be reviewed and assessed by the CCO to determine the rationale to commence a new or maintain an existing Correspondent Relationship. Where it is not possible for a face-to-face meeting to take place, prepare a waiver request from the AML/CTF Policy to the MLRO.
• Perform a financial crime review for any new to bank or periodic review high risk counterparties through an onsite visit or remotely on-line and remotely. Maintain a record of the visit on the KYC file and a written summary similar to that for Correspondent Banking Relationships
• Maintain and report on the WCS Periodic Schedule ensuring there are no overdue reviews
• Provide advice and guidance to any WCS colleague reporting on SAR reporting assuring the quality of the SAR prior to submission to the MLRO
• Maintain Counterparty CDD/KYC Files ensuring these are regulator ready and clearly differentiate between those where BFC has Correspondent Trading Relationships (CTRs) and Corresponding Banking Relationships (CBRs)
• Support the provision of CDD/KYC information to all Counterparties (CTRs and CBRs) to enable the counterparty to complete its review of BFC.
• In conjunction with the CCO, ensure the timely completion of all Compliance and Regulatory training.
• Conduct transaction monitoring of the WCS Counterparty activity and report any concerns/suspicious activity to the CCO for further reporting to the MLRO
• Document and maintain (at least annually) WCS specific CDD/KYC procedures to support onboarding and periodic reviews, ensuring this are accessible to all WCS colleagues
• Maintain knowledge of the Banks Financial Crime Policies and Standards
• Document and maintain (at least annually) WCS specific procedures for the daily Transaction Monitoring Reports for key controls relating to large denomination and FX rates
• Take an active role in identifying areas for improvement in systems, processes and procedures in the area of Compliance and Financial Crime Risks, then leading in initiatives to implement changes
• Assisting in identifying and assessing potential compliance risk and issues.
• Providing recommendations and advice on compliance rules, guidance and applicable financial services legislation. Seeking advice from the CCO when required.
• Develop and implement a training programme specific to the business needs, and ensure all employees attend the relevant training on Financial Crime, Compliance and the Business Code of Conduct
• Establish appropriate compliance checks and controls through a risk-based monitoring programme based on the Company standards.
• Coordinate the identification, measurement and mitigation of risks that affect the business.

To be considered for this position, ideal candidates must have the following experience and skills;

• Degree or equivalent
• Compliance and/or financial crime related diploma, for example those from the International Compliance Association
• Minimum 5 years' experience within the compliance field preferably in a financial crime related role
• Correspondent Banking
• Knowledge of Banknote and FX business with awareness of risks and mitigants and related Transaction Monitoring is considered important for this role.
• High standard of accuracy and attention to detail
• Strong analytical skills
• Excellent communicator
• Strict work ethics
• Strong written skills
• Cybercrime fraud investigation and mitigation skills