Financial Crime Risk Analyst — Hybrid, Global Impact

Reporting to one of the Bank’s Deputy Money Laundering Reporting Officers (DMLROs), you will be integral to monitoring, managing and mitigating the Financial Crime risks posed to the Bank. The work of the Financial Crime team is very varied and involves working on multiple pieces of work at any time. The role has exposure to each of the Bank’s four stages when managing financial crime risks.

• Setting policies and establishing risk tolerances.
• Helping to monitor and benchmark legal and best practice developments and update our policies accordingly to meet the Bank’s risk tolerances.
• Assessing the threats posed to the Bank.
• Assisting with the monitoring of fast moving geo-political and other developments around the world and evaluating how they may pose a threat to the Bank’s operations.
• Identifying the Bank’s vulnerability to the threats posed.
• Completing assessments of the Bank’s internal control defences against the money laundering, terrorist & proliferation financing and sanctions threats.
• Implementing controls on a risk sensitive basis.
• Completing risk assessments of the MBPR customers, counterparties and participants.
• The analyst will attend the Financial Crime Board and its subgroup to present assessments for review and challenge.
• Being responsible for daily monitoring tasks such as performing reviews and making decisions about transactions that are flagged as high risk and working with other teams to obtain further information where necessary.
• Providing financial crime advice to stakeholders across the Bank on how financial crime risks may crystallise and how these can be mitigated and managed.

Role Requirements

• Minimum Criteria
• Ability to handle sensitive and confidential information in a discreet manner.
• Strong attention to detail and high-quality standards.
• Excellent analytical skills and the ability to make sound risk-based judgements quickly.

• Essential Skills
• Experience in working in transaction monitoring and identifying/raising suspicious activity.
• A natural curiosity plus specific interest in global affairs and developments in financial crime.
• Confidence to express opinions and views and provide challenge to management.
• Strong workload management skills, with the ability to prioritise effectively the undertaking of day-to-day tasks and working on longer term analysis and projects.

• Desirable Criteria
• An understanding of international correspondent banking and knowledge of the UK’s Money Laundering Regulations and HMT sanctions regime.
• Qualifications or certification in Anti-Money Laundering (AML), fraud control, sanctions, or broader economic crime prevention.

Our Approach to Inclusion

The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve. At the Bank of England, we want all colleagues to feel valued and respected, so we’re working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public. We welcome applications from individuals who work flexibly, including job shares and part time working patterns.

For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.

Salary and Benefits

We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.

• Leeds: £37,520 – £46,400
• London: £41,200 – £51,500

Non-contributory career average pension giving a guaranteed retirement benefit of 1/80th of your annual salary for every year worked, with the option to adjust accrual rates through our flexible benefits programme each year. Discretionary performance award based on a current award pool. 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits. Private medical insurance and income protection.

National Security Vetting Process

Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.