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- Tasks: Support daily operations in Financial Crime Quality Assurance and ensure compliance with regulations.
- Company: Join the Bank of China, a leading international bank with over 90 years in the UK.
- Benefits: Enjoy a full-time permanent role with opportunities for personal and professional growth.
- Why this job: Make a real impact in financial crime prevention while working in a diverse and inclusive environment.
- Qualifications: Degree in Law, Banking, or Finance; compliance qualifications and banking experience required.
- Other info: Be part of a global team with a strong commitment to compliance and ethical standards.
The predicted salary is between 43200 - 72000 £ per year.
The Financial Crime and Compliance (FC&C) department is responsible for ensuring that all Financial Crime and Compliance risks within the Bank are identified, managed, or mitigated. It establishes and maintains the Bank's regulatory communications, compliance risk management, regulatory reporting, and compliance advisory. As a Senior Associate - Financial Crime Quality Assurance, you will support day-to-day functions and operations within the department regarding Quality Assurance (QA) for Financial Crime. You will ensure the Bank has robust controls around Anti-Money Laundering (AML), Terrorist Financing, Fraud, Sanctions, Anti-Bribery, and Corruption to remain compliant and meet the requirements of all appropriate regulations and legislation. This is a full-time permanent position.
Key Responsibilities
- Provide support in ensuring the day-to-day operation and activities and team tasks are undertaken accurately and in a timely manner.
- Provide guidance to business units and support departments on Customer Due Diligence (CDD) related matters.
- Demonstrate an awareness/understanding of AML and Financial Crime risk profiles in relation to the retail and wholesale business.
- Contribute to assessing risks to ensure the control framework is adequate and complete the annual updates.
- Assist in the design and implementation of new Financial Crime policies and procedures for the Bank.
- Assist in preparation of the annual MLRO Report and material for reporting to the Compliance Committee.
- Responsible for executing the QA reviews in line with the methodology and the QA annual work.
- Escalate issues where serious concerns are identified in an effective manner to ensure early notification and prompt action can be taken by Senior Management.
- Agree actions with relevant ‘owners’ and ensure these are followed through to completion, providing assistance to business where necessary.
- Write the QA draft report and provide relevant finding details and remedial action plans.
- Monitor remedial actions’ completion by stakeholders.
- Participate in the planning, preparation, and delivery of financial crime related training.
- Ensure daily referrals and queries submitted to the Financial Crime Team are addressed and responded to in an efficient, accurate, complete, and timely manner with adequate record keeping and maintaining the relevant trackers up to date.
Requirements
- Degree educated, preferably in Law, Banking, or Finance.
- Compliance related qualification (e.g. ICA Certification in Financial Crime or AML/CTF specific certification from ICA, CISI, CAMS).
- Demonstrated Banking experience.
- Financial Crime experience, including AML, Terrorist Financing, Sanctions, Bribery and Corruption, Tax Evasion, and Customer Due Diligence.
- Experience in record-keeping and production of MI.
- Experience in implementing Financial Crime regulatory requirements and guidance.
- Solid understanding of Retail and Corporate Banking products and related processes.
- Knowledge of FCA/PRA Handbook.
- Knowledge of JMLSG Guidance.
- Excellent report writing skills.
- Team player.
- Excellent communication skills.
Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing excellent financial service to the market and maintains its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalized overseas branches in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy equal opportunities to grow both personally and professionally.
Senior Associate - Financial Crime Quality Assurance employer: Bank of China
Contact Detail:
Bank of China Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Associate - Financial Crime Quality Assurance
✨Tip Number 1
Familiarise yourself with the latest regulations and guidelines related to Financial Crime, especially those from the FCA/PRA Handbook and JMLSG Guidance. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in this ever-evolving field.
✨Tip Number 2
Network with professionals in the Financial Crime sector, particularly those who have experience in Quality Assurance roles. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends and challenges in the field.
✨Tip Number 3
Prepare to discuss specific examples of how you've contributed to compliance and risk management in previous roles. Highlight your experience with AML, CDD, and other relevant areas to showcase your expertise and problem-solving skills.
✨Tip Number 4
Demonstrate your ability to work collaboratively by preparing examples of how you've successfully worked with cross-functional teams. Emphasising your teamwork skills will show that you're a good fit for the collaborative environment at StudySmarter.
We think you need these skills to ace Senior Associate - Financial Crime Quality Assurance
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in Financial Crime, Compliance, and Quality Assurance. Use specific examples that demonstrate your understanding of AML, CDD, and other key areas mentioned in the job description.
Craft a Strong Cover Letter: Write a cover letter that clearly outlines your motivation for applying to this role. Mention how your background aligns with the responsibilities of the Senior Associate position and express your enthusiasm for contributing to the Bank's compliance efforts.
Highlight Relevant Qualifications: Ensure you mention any compliance-related qualifications you hold, such as ICA Certification in Financial Crime or AML/CTF certifications. This will show that you have the necessary credentials for the role.
Showcase Communication Skills: Since excellent communication skills are essential for this role, provide examples in your application that demonstrate your ability to communicate effectively, whether through report writing or training delivery.
How to prepare for a job interview at Bank of China
✨Know Your Financial Crime Regulations
Make sure you have a solid understanding of the key regulations related to Financial Crime, such as AML, Terrorist Financing, and Sanctions. Be prepared to discuss how these regulations impact the bank's operations and your role in ensuring compliance.
✨Demonstrate Your QA Experience
Highlight your experience with Quality Assurance processes, especially in relation to Financial Crime. Be ready to provide examples of how you've executed QA reviews and contributed to the development of policies and procedures in previous roles.
✨Showcase Your Communication Skills
As a Senior Associate, you'll need to communicate effectively with various stakeholders. Prepare to discuss how you've successfully communicated complex compliance issues in the past and how you can facilitate training for team members.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills in real-world situations. Think about past experiences where you identified risks or escalated issues, and be ready to explain your thought process and actions taken.
