At a Glance
- Tasks: Lead the design and management of financial crime systems while overseeing a team of analysts.
- Company: Join Bank of London, a pioneering bank focused on safety and innovation in business banking.
- Benefits: Enjoy a dynamic work environment with opportunities for growth and development.
- Why this job: Be part of a mission-driven team that values compassion, ownership, and curiosity in tackling financial crime.
- Qualifications: Experience in financial crime operations and knowledge of AML regulations are essential.
- Other info: Diversity is celebrated here; all qualified applicants are encouraged to apply.
The predicted salary is between 43200 - 72000 £ per year.
Job Description
Bank of London offers a safer business banking model by holding all deposits at the Bank of England, eliminating the risk of 'bank runs.' It provides services such as Deposit-as-a-Service (DaaS), EmbeddedBanking, real-time Clearing, Payments, and Settlement, as well as CommercialBanking tailored to businesses. Powered by proprietary technology, the bank collaborates with SAP Fioneer to deliver innovative solutions. With a focus on exceptional service and core values of compassion, ownership, and curiosity,the bank strives for excellence in all it does.
We are seeking a motivated and curious individual who aspires to excellence. This person should be technology-driven, aiming to bring innovation and automation to the bank's Financial Crime processes within our Risk Framework. We value those who challenge conventions, possess a forward-thinking mindset, and can self-direct to deliver complex outcomes with agility, speed, accuracy, and excellence.
As the KYC & Ongoing Monitoring Manager, you will play a crucial role in designing, implementing, and managing robust financial crime systems and controls. Your efforts will ensure our bank remains resilient and customer-centric, delivering exceptional value to our clients while maintaining compliance with regulatory standards.
- Managing a growing team of Financial Crime analysts and associates to undertake the Client Due Diligence and ongoing assurance processes.
- Develop and maintain comprehensive KYC procedures, continuously identifying opportunities to streamline processes and improve operational efficiency
- Oversee and manage the end-to-end client onboarding journey, ensuring a seamless, compliant, and efficient process aligned with regulatory standards and internal policies
- Oversight of conducting continuous monitoring reviews of our clients to ensure compliance with regulatory obligations.
- Building out the Banks assurance framework for Embedded Banking, ensuring the appropriate controls are in place to ensure compliance.
- Assessing and monitoring the integrity of our client's financial crime risk and controls framework.
- Working closely with the ‘Second Line’ and the bank's MLRO, raising internal SARs and supporting efforts to ensure the team are kept up-to-date with training and knowledge development
- Communicating regularly with clients to track the development and remediation of findings from assurance reviews.
- Supporting clients to stay compliant with emerging regulatory changes.
- Establishing a scalable, efficient, and consistent framework for ongoing reviews
- Planning and prioritising the review schedule and managing the necessary capacity to deliver it.
- Approval of First Line Financial Crime Assessments for submission to Senior Management
- Development of MI to support governance, audit and 2LOD.
- Act as an escalation point of contact for all queries regarding financial crime, dealing with and raising issues to senior management and 2LOD in a timely manner including iSARs.
- Carry out any other operational tasks deemed necessary by management.
Responsibilities
- Extensive experience in managing ‘First Line’ Financial crime Operations teams and Demonstrated experience in building team.
- In-depth knowledge of AML, CTF, and fraud regulations, as well as industry best practices for robust financial crime control implementation.
- Background in CDD and ongoing assurance of complex client types and structures, including MSBs, PSPs and Financial Institutions.
- Insight into Embedded Banking and an understanding of how to conduct appropriate assurance in both a Reliance and Non-Reliance model.
- Proven experience in the UK regulated financial services sector, preferably within a fintech, challenger bank, or correspondent banking.
- Comprehension of the ‘3 lines of defence’ model and understanding of the role of ‘First Line’ Financial Crime Operations
- Strong stakeholder management skills to effectively collaborate across the business and represent the Bank of London externally, articulating our financial crime requirements with clarity.
- Skilled in navigating challenging conversations and managing client expectations.
- A principled and growth mindset, capable of thoroughly analysing regulations and applying insights to align the client’s financial crime framework with our own.
- High proficiency in document drafting and communication.
Location
London
Travel to other locations may be required on occasion.
Diversity
Bank of London is an equal opportunity employer committed to inclusion, diversity and belonging. All qualified applicants are welcome and will receive consideration for employment without regard to race, colour, age, disability, religion or religious expression, sex, sexual orientation, gender or gender identity and expression, transgender, national origin, or military veteran status.
KYC & Ongoing Monitoring Manager employer: Bank of London
Contact Detail:
Bank of London Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land KYC & Ongoing Monitoring Manager
✨Tip Number 1
Familiarise yourself with the latest AML, CTF, and fraud regulations. Understanding these regulations will not only help you in interviews but also demonstrate your commitment to compliance and operational excellence.
✨Tip Number 2
Showcase your experience in managing financial crime operations teams. Be prepared to discuss specific examples of how you've built and led teams, as this is a key aspect of the KYC & Ongoing Monitoring Manager role.
✨Tip Number 3
Highlight your stakeholder management skills. The ability to collaborate effectively across various departments and represent the bank externally is crucial, so think of instances where you've successfully navigated challenging conversations.
✨Tip Number 4
Demonstrate your understanding of Embedded Banking and the assurance models associated with it. Being able to articulate how you would approach compliance in both Reliance and Non-Reliance models will set you apart from other candidates.
We think you need these skills to ace KYC & Ongoing Monitoring Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in financial crime operations, particularly in KYC and AML. Use specific examples that demonstrate your ability to manage teams and implement robust controls.
Craft a Compelling Cover Letter: In your cover letter, express your motivation for applying to the Bank of London. Emphasise your curiosity and technology-driven mindset, and how these align with the bank's core values of compassion, ownership, and curiosity.
Highlight Relevant Skills: Clearly outline your skills in stakeholder management, document drafting, and communication. Provide examples of how you've navigated challenging conversations and managed client expectations in previous roles.
Showcase Your Knowledge: Demonstrate your understanding of AML, CTF, and fraud regulations in your application. Mention any experience you have with Embedded Banking and how you can contribute to the bank's assurance framework.
How to prepare for a job interview at Bank of London
✨Understand the Financial Crime Landscape
Familiarise yourself with the latest AML, CTF, and fraud regulations. Being well-versed in these areas will demonstrate your expertise and commitment to compliance during the interview.
✨Showcase Your Leadership Skills
As a KYC & Ongoing Monitoring Manager, you'll be managing a team. Prepare examples of how you've successfully built and led teams in the past, focusing on your ability to motivate and develop others.
✨Demonstrate Your Problem-Solving Abilities
Be ready to discuss specific challenges you've faced in financial crime operations and how you overcame them. Highlight your analytical skills and your approach to streamlining processes for efficiency.
✨Communicate Clearly and Confidently
Effective communication is key in this role. Practice articulating complex financial crime concepts in a clear manner, as you'll need to convey these ideas to both clients and senior management.