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- Tasks: Conduct SAR investigations and monitor transactions to ensure compliance with financial regulations.
- Company: Join a leading bank committed to maintaining the highest standards of financial integrity.
- Benefits: Enjoy competitive pay, flexible working options, and opportunities for professional growth.
- Why this job: Make a real impact in fighting financial crime while developing your skills in a dynamic environment.
- Qualifications: Ideal for those with a keen interest in finance, compliance, and regulatory frameworks.
- Other info: Be part of a supportive team that values innovation and collaboration.
The predicted salary is between 43200 - 72000 £ per year.
Purpose of the role is to perform SAR investigations, perform transaction monitoring and second line review of Financial Crime controls including KYC, AML, Sanctions, ABC, Fraud and Market Abuse across different functions of the Bank; payments escalations and compliance oversights.
Job Responsibility:
- Suspicious Activity Reporting (SAR) investigations within prescribed timelines.
- Ensure timely, efficient reporting of SAR to the MLRO.
- Preparing quality SAR reports and disclose it to National Crime Agency after getting sign off from MLRO.
- Adherence to SAR timelines as described in POCA 2002.
- Ensure compliance with Money Laundering Regulations/ JMLSG guidelines and other AML/KYC related laws and regulations.
- Monitoring of System generated reports and identify out of patterns transactions and escalate accordingly.
- Perform compliance oversight reviews across Business and support functions and tracking and follow up for implementation of oversight recommendations / action points.
- Reporting of MI pertaining to open actions to Legal & Compliance Committee.
- Assist with review of Compliance Policies and Procedures and where required review of other department owned policies.
- Ad hoc projects and assignments related to Compliance and Financial Crime, Internal Audit and FCA action plan as allocated by the Deputy Manager/Head of Legal & Compliance.
Senior Associate - SAR employer: UK Bank
Contact Detail:
UK Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Associate - SAR
✨Tip Number 1
Familiarise yourself with the latest regulations and guidelines related to SAR, AML, and KYC. Understanding the legal framework will not only help you in interviews but also demonstrate your commitment to compliance.
✨Tip Number 2
Network with professionals in the financial crime sector. Attend industry events or join relevant online forums to connect with others who work in SAR investigations. This can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Stay updated on current trends and emerging threats in financial crime. Being knowledgeable about recent cases or changes in the industry can set you apart during discussions with interviewers.
✨Tip Number 4
Prepare for situational questions that may arise during interviews. Think of examples from your past experiences where you successfully handled compliance issues or conducted thorough investigations, as these will showcase your skills effectively.
We think you need these skills to ace Senior Associate - SAR
Some tips for your application 🫡
Understand the Role: Take time to thoroughly read the job description for the Senior Associate - SAR position. Familiarise yourself with the key responsibilities, such as SAR investigations and compliance oversight, to tailor your application accordingly.
Highlight Relevant Experience: In your CV and cover letter, emphasise any previous experience you have in financial crime compliance, KYC, AML, or related fields. Use specific examples to demonstrate your skills in transaction monitoring and reporting.
Showcase Your Knowledge: Mention your understanding of relevant regulations like POCA 2002 and Money Laundering Regulations. This will show that you are well-versed in the legal framework surrounding the role and can contribute effectively from day one.
Craft a Strong Cover Letter: Write a compelling cover letter that not only outlines your qualifications but also expresses your enthusiasm for the role. Make sure to connect your personal values with the company's mission in compliance and financial crime prevention.
How to prepare for a job interview at UK Bank
✨Understand the Regulatory Framework
Familiarise yourself with the key regulations such as POCA 2002, Money Laundering Regulations, and JMLSG guidelines. Being able to discuss these in detail will show your knowledge and commitment to compliance.
✨Prepare for SAR Scenarios
Be ready to discuss specific scenarios related to Suspicious Activity Reporting. Think of examples where you identified suspicious transactions or contributed to investigations, as this will demonstrate your practical experience.
✨Showcase Your Analytical Skills
Highlight your ability to analyse transaction patterns and identify anomalies. Prepare to discuss tools or methodologies you've used in the past to monitor transactions effectively.
✨Emphasise Team Collaboration
Since the role involves working across different functions, be prepared to talk about your experience in collaborating with various teams. Share examples of how you’ve successfully worked with others to implement compliance measures.
