KYC & Ongoing Monitoring Manager

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.