The Senior Associate – Financial Crime Operations is responsible for the prevention, detection and investigation of financial crime risks across the Bank.
The role supports the Bank's Financial Crime framework by undertaking investigations relating to Anti-Money Laundering (AML), Counter Terrorist Financing (CTF), sanctions compliance, fraud prevention, transaction monitoring, customer due diligence and name screening. The role contributes to ensuring compliance with applicable UK regulatory requirements, internal policies, and industry best practices while supporting the Bank's operational resilience and risk management objectives.
JOB RESPONSIBILITY
Transaction Monitoring
- Investigate transaction monitoring alerts generated by automated monitoring systems.
- Analyse customer transactional behaviour to identify unusual or suspicious activity.
- Determine whether alerts represent genuine financial crime concerns or false positives.
- Escalate suspicious matters to the MLRO through internal Suspicious Activity Reports (SARs).
- Ensure investigations are completed within agreed service levels.
Sanctions Screening
- Review customer and payment sanctions screening alerts.
- Investigate potential sanctions matches using internal systems and external intelligence.
- Escalate confirmed or potential sanctions concerns in accordance with Bank policy.
- Support sanctions list maintenance and screening effectiveness reviews.
- Investigate fraud alerts including APP fraud, mule account activity, impersonation and identity theft.
- Identify emerging fraud trends and recommend control improvements.
- Support fraud prevention initiatives across the Bank.
- Review complex onboarding cases and enhanced due diligence documentation.
- Assess high-risk customers and complex ownership structures.
- Verify Ultimate Beneficial Owners (UBOs), directors, trustees, authorised signatories and other related parties.
- Ensure customer records comply with AML and sanctions requirements.
- Conduct detailed investigations into potential money laundering, terrorist financing, sanctions breaches and fraud.
- Liaise with business units to obtain supporting evidence.
- Maintain comprehensive investigation records and audit trails.
- Produce clear investigation reports with appropriate recommendations.
- Support ongoing optimisation of transaction monitoring and sanctions screening systems.
- Participate in threshold, rule and scenario reviews.
- Identify opportunities to improve system effectiveness and reduce false positives.
- Assist in user acceptance testing (UAT) for financial crime system enhancements.
Regulatory Compliance
- Maintain awareness of FCA, JMLSG, OFSI, HM Treasury and other applicable regulatory requirements.
- Assist in implementing regulatory changes affecting Financial Crime Operations.
- Ensure compliance with internal policies, procedures and risk appetite.
Governance and Risk
- Contribute to periodic risk assessments and control reviews.
- Support internal and external audits.
- Identify process improvements to strengthen financial crime controls.
- Maintain accurate management information and operational metrics.
Quality Assurance
- Ensure investigations are completed to a consistently high standard.
- Support quality assurance reviews and implement feedback.
- Promote continuous improvement across Financial Crime Operations.
Stakeholder Management
- Liaise effectively with Compliance, Branches, Operations, Technology and other business units.
- Work collaboratively with external suppliers and service providers where required.
- Provide guidance to colleagues on financial crime matters.
Team Support
- Assist with coaching and mentoring junior team members.
- Support knowledge sharing and delivery of internal training.
- Act as a subject matter expert for assigned financial crime processes.
- Participate in departmental projects and change initiatives.
COMPETENCY
- Experience within Financial Crime Operations in a UK regulated financial institution.
- Strong knowledge of AML, CTF, sanctions and fraud prevention.
- Experience investigating transaction monitoring and sanctions alerts.
- Understanding of customer due diligence and enhanced due diligence.
- Knowledge of UK financial crime legislation and regulatory expectations.
- Excellent analytical and investigative skills.
- Strong report writing and communication skills.
- Experience of transaction monitoring and sanctions screening systems.
- Knowledge of payment screening and customer screening processes.
- Experience of core banking platforms such as Finacle.
- Experience supporting financial crime system tuning and optimisation.
KEY INTERACTIONS/NETWORKS
- Compliance
- MLRO
- Retail branches
- Branch Operations
- Retail Credit
- Payments
- Systems/IT
- Internal Audit
- External suppliers and screening providers
REPORTING RELATIONSHIP
Reports directly to the Manager – Financial Crime Operations.
PERSON SPECIFICATION
- Strong analytical and investigative mindset.
- Excellent attention to detail.
- Ability to exercise sound judgement and make risk-based decisions.
- Excellent verbal and written communication skills.
- Ability to manage competing priorities and meet deadlines.
- High level of integrity and professionalism.
- Self-motivated with a continuous improvement mindset.
- Proficient in Microsoft Office and financial crime systems.
CONTACTS
In all contacts, the post holder will be required to present a good image of the State Bank of India UK Ltd as well as maintaining constructive relationships.
NOTES
- The State Bank of India UK Ltd reserves the right to alter the content of this job description after consultation to reflect changes to the job or services provided, without altering the general character or level of responsibility.
- Reasonable adjustments will be considered as required by the Disability Discrimination Act.
- The duties described in this job description must be carried out in a manner which promotes equality of opportunity, dignity and due respect for all employees and service users and is consistent with the State Bank of India UK Ltd Equal Opportunities Policy.
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