At a Glance
- Tasks: Support the Compliance team with KYC adoptions and reviews for corporate clients.
- Company: IFX Payments is a leading global provider of foreign exchange and payment solutions.
- Benefits: Enjoy 25 days annual leave, healthcare plans, discounts, and career development opportunities.
- Other info: Hybrid work model: 3 days in London office, 2 days remote.
- Why this job: Join a high-performance team that values growth, collaboration, and making an impact.
- Qualifications: 1 year of relevant experience; AML certification preferred; strong analytical and communication skills required.
The predicted salary is between 28800 - 43200 £ per year.
Compliance Associate
Department: Compliance
Employment Type: Permanent - Full Time
Location: London
Reporting To: Anthony Besford-Land
Description
Overview of the role
The Compliance Operations Associate plays a crucial role in maintaining the integrity and efficiency of our financial operations. This position is responsible for a range of activities that ensure compliance with regulatory standards and internal policies, particularly in the areas of account management, payment processing, and risk mitigation. The ideal candidate will have a keen eye for detail, strong problem‑solving skills, and the ability to handle sensitive information with discretion.
Key Responsibilities
Account Closures:
- Manage the process of closing accounts, ensuring compliance with legal and regulatory requirements.
- Collaborate with internal teams to identify and address any issues that may arise during the account closure process.
Payment Returns:
- Handle returned payments efficiently, investigating and resolving issues that lead to payment discrepancies.
- Communicate with clients and financial institutions to facilitate the resolution of returned payments.
Responding to RFIs (Requests for Information):
- Timely and accurately respond to RFIs from regulatory bodies, financial institutions, and internal stakeholders.
- Maintain detailed records of all correspondences and responses.
Adding and Confirming Beneficiaries:
- Conduct due diligence on new beneficiaries, ensuring compliance with anti‑money laundering (AML) and know your customer (KYC) regulations.
- Update and maintain beneficiary information in the system.
Dealing with SWIFT Emails and Recalls:
- Manage communications related to SWIFT transactions, including the handling of recalls and related inquiries.
- Ensure swift and accurate responses to all SWIFT‑related communications.
Risk Assessment and Mitigation:
- Participate in the assessment of operational risks and the development of mitigation strategies.
- Implement and monitor controls to prevent financial fraud and compliance breaches.
Reporting and Documentation:
- Prepare regular reports on compliance activities and incidents.
- Ensure all operations are documented in accordance with internal policies and regulatory standards.
Skills, Knowledge and Expertise
- Experience: Minimum of 2 years in a compliance or operational role within the financial services industry.
- Knowledge of Regulatory Standards: Familiarity with AML, KYC, and other relevant financial regulations.
- Analytical Skills: Ability to analyze complex information and identify compliance risks.
- Communication Skills: Excellent written and verbal communication skills, with the ability to interact effectively with various stakeholders.
- Attention to Detail: Meticulous attention to detail and accuracy in all aspects of work.
- Problem‑Solving: Strong problem‑solving skills and the ability to handle challenging situations.
- Technology Proficiency: Proficiency in compliance software and MS Office Suite.
Benefits
We believe great people do their best work when they feel supported, rewarded, and empowered to grow. That’s why we offer a benefits package designed to support your career, wellbeing, finances, and life outside of work.
-
- 25 days’ annual leave, plus bank holidays
- An extra day off for your birthday
- Holiday loyalty scheme rewarding long-term service
- Work abroad scheme for added flexibility
-
- Competitive pension scheme via salary exchange
- Annual discretionary bonus scheme (eligible after probation)
- Financial education, planning & coaching platform
- Interest‑free Season Ticket Loan for London travel
- Salary exchange nursery fee scheme
-
- Life Insurance
- Healthcare platform including
- Cashback on dental, optical & physio
- Virtual GP access
- Mental health and stress support helplines
- Additional wellbeing resources
-
- Enhanced parental leave
- Cycle to work scheme
- Flexible benefits that support everyday life
-
- Career development and progression tools
- Opportunities to grow within a fast‑scaling international business
From sporting events and pub nights to seasonal celebrations and socials, we make time to connect and celebrate together.
Diversity & Inclusion
We believe that diversity and inclusion are essential to our success. We are committed to fostering a culture where everyone feels valued and respected, regardless of their background, identity or experiences. By embracing diverse perspectives and promoting equity, we aim to create an environment where all employees can perform and reach their full potential.
What’s next?
- We will review your application and come back to you as soon as possible.
- You must be eligible to work in the UK to be considered for this position.
- Full background checks will be carried out on all successful candidates.
#J-18808-Ljbffr
Compliance Associate in City of London employer: IFX Payments
Ifx-Payments is an exceptional employer located in the vibrant city of London, offering a dynamic work culture that fosters innovation and collaboration. As a Senior Frontend Engineer, you will have access to cutting-edge technology and the opportunity for professional growth within a fast-growing fintech environment. With a strong emphasis on employee development and a commitment to customer outcomes, Ifx-Payments provides a rewarding and meaningful career path for those looking to make an impact.
StudySmarter Expert Advice🤫
We think this is how you could land Compliance Associate in City of London
✨Tip Number 1
Familiarise yourself with the latest regulations and compliance standards relevant to the financial sector, especially those related to KYC and AML. This knowledge will not only help you in interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the compliance field, particularly those who work at IFX Payments or similar companies. Engaging with them on platforms like LinkedIn can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Prepare for situational interview questions by thinking of examples from your past experiences where you successfully handled compliance issues or conducted due diligence. This will showcase your analytical skills and ability to work under pressure.
✨Tip Number 4
Stay updated on current events and trends in the financial industry, particularly those that may impact compliance practices. Being knowledgeable about recent developments can set you apart as a candidate who is proactive and informed.
We think you need these skills to ace Compliance Associate in City of London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights relevant experience in compliance, particularly any roles involving KYC and AML. Use specific examples to demonstrate your skills in conducting due diligence and risk assessments.
Craft a Strong Cover Letter:In your cover letter, express your enthusiasm for the Compliance Associate role at IFX Payments. Mention how your background aligns with their mission and values, and provide examples of how you've successfully navigated compliance challenges in the past.
Highlight Relevant Qualifications:If you have an AML Certificate or Diploma with ICA/ACAMS, be sure to mention this prominently in your application. This qualification is advantageous for the role and can set you apart from other candidates.
Showcase Your Analytical Skills:Since the role requires strong analytical skills, include examples in your application that demonstrate your ability to assess risks and make informed decisions. Highlight any experience you have with PEP, sanctions, and adverse media checks.
How to prepare for a job interview at IFX Payments
✨Understand KYC and AML Regulations
Familiarise yourself with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, as these are crucial for the Compliance Associate role. Be prepared to discuss how you have applied these principles in previous roles or how you would approach them in this position.
✨Showcase Analytical Skills
Highlight your analytical skills during the interview. Provide examples of how you've conducted risk assessments or due diligence reviews in the past. This will demonstrate your ability to handle the responsibilities of the role effectively.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving abilities in compliance situations. Practice articulating your thought process and decision-making steps when faced with potential compliance issues.
✨Emphasise Teamwork and Communication
Since the role involves working closely with various teams, emphasise your teamwork and communication skills. Share experiences where you successfully collaborated with colleagues or clients to achieve compliance objectives.
