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- Tasks: Support the International AML team on key regulatory projects and policy analysis.
- Company: Join Westpac, Australia's first bank, in a dynamic London office.
- Benefits: Competitive PAYE day rate, diverse culture, and flexible work environment.
- Why this job: Make a real impact on global financial crime compliance and policy development.
- Qualifications: 5+ years in financial crime compliance with strong AML/CTF knowledge.
- Other info: Be part of a friendly, innovative team focused on creating better futures.
The predicted salary is between 48000 - 72000 ÂŁ per year.
This role will be to support the International AML team for Westpac on a key regulatory project. The amended Australian Anti-Money Laundering & Counter Terrorism Financing Act (“AML/CTF Act”) represents a strategic shift in the approach to the regulatory landscape for the Australian regulated sector. The AML/CTF Act has materially expanded the scope of extra-territorially applicable obligations, as well as an opportunity for us to adopt a more consistent AML/CTF risk management approach globally. This position will lead the regulatory and comparative analysis of global and country requirements to support our international locations uplifting to the target state across London, New York, Frankfurt, and Singapore.
Depending on the operating model determined by Country Financial Crime Compliance, this will be met through either:
- Country Addenda model: Reviewing local regulatory obligations within our international locations to identify more stringent, different or less-stringent requirements and setting these out in Country Addenda to the global documents.
- Country AML/CTF Policy model: Reviewing the global AML/CTF Policies and Standards, to incorporate new global requirements into local country AML/CTF Policies & Standards.
Key Responsibilities
- Partnering with Country Financial Crime leaders to agree the operating model best suited to their location.
- Country Addenda model:
- Review and compare the new global AML/CTF Policies and Standards against local AML/CTF obligations set out in local laws, regulations or binding guidance.
- Identify requirements under local regulatory landscape which mandates more-stringent requirements.
- Identify requirements under the local regulatory landscape, and with input from local country 2LOD/1LOD teams to identify any different requirements.
- Identify requirements where a less-stringent country variation is needed, to address local conflicts of law or requirements the country is unable to comply with due to material commercial impacts or nuances of the local market.
- Consult on the proposed variations with the applicable stakeholder teams within second and first lines of defence.
- Capture the scope of country-variations required in the Country Addenda template in a globally consistent manner.
- Facilitate applicable review and approval of the Country Addenda in line with the global Policy requirements.
- Review and compare the new global AML/CTF Policies and Standards against local country AML/CTF Policies.
- Identify global AML/CTF Policy requirements which are more stringent than the existing country AML/CTF Policies and Standards requirements.
- Identify existing country AML/CTF Policy requirements which are more stringent than the global AML/CTF Policies & Standards, which are not supported by obligations in local AML/CTF legislation, regulation or binding guidance.
- Consult on the proposed changes with the applicable stakeholder teams within second and first lines of defence.
- Draft applicable changes to the country AML/CTF Policies and Standards.
- Facilitate applicable review and approval of the updated country AML/CTF Policies & Standards in line with the global and local Policy requirements.
What does success look like?
- Delivery of Country Addenda and/or updated country AML/CTF Policies and Standards.
- Demonstration of required behaviours and Westpac values.
- Positive feedback from stakeholders on clarity, collaboration, and adoption of new requirements.
What do I need?
- Minimum 5+ years’ experience in financial crime compliance, operational risk, governance, assurance, or related roles within banking, consultancy, legal.
- Proven experience in AML/CTF Policy impact assessment, drafting and consultation.
- Strong working knowledge of AML/CTF obligations, regulatory requirements and industry practice within international markets.
- Superior written communication skills and demonstrated experience in leading the production of professional corporate reports.
When you join, you’ll become part of the broader Westpac family – where we aim to be a friendly, switched-on team working for a single purpose – Creating Better Futures Together – it’s what we do, who we are and why we come to work every day. As an equal opportunity employer, we’re proud to have created a culture where people can be their best, in an environment that values diversity and flexibility. Within the Westpac, you will be part of the Institutional Banking division, where our vision is to be a high performing and innovative institutional bank, committed to enabling the growth of our global clients, our economy, and delivering sustainable shareholder returns.
Start Here. Just click on the APPLY button.
Senior Policy Analyst, Country Financial Crime Risk (6 month Contract) employer: Westpac Institutional Bank
Contact Detail:
Westpac Institutional Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Policy Analyst, Country Financial Crime Risk (6 month Contract)
✨Tip Number 1
Network like a pro! Reach out to folks in the financial crime compliance space, especially those at Westpac or similar firms. A friendly chat can open doors and give you insights that a job description just can't.
✨Tip Number 2
Prepare for interviews by brushing up on your AML/CTF knowledge. Be ready to discuss how you can contribute to their regulatory projects. Show them you’re not just another candidate, but someone who’s genuinely interested in making a difference.
✨Tip Number 3
Don’t underestimate the power of follow-ups! After an interview, drop a quick thank-you note. It shows your enthusiasm and keeps you fresh in their minds. Plus, it’s a great way to reiterate your interest in the role.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen. Plus, we love seeing candidates who take the initiative to engage directly with us. Let’s get you on board!
We think you need these skills to ace Senior Policy Analyst, Country Financial Crime Risk (6 month Contract)
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter to highlight your experience in financial crime compliance and AML/CTF policies. We want to see how your skills align with the specific requirements of the role, so don’t hold back!
Showcase Your Writing Skills: Since this role requires superior written communication skills, include examples of reports or documents you've produced in the past. We love seeing clear, concise writing that demonstrates your ability to convey complex information effectively.
Be Clear and Concise: When filling out your application, keep your responses straightforward and to the point. We appreciate clarity, so avoid jargon and focus on what makes you a great fit for the Senior Policy Analyst position.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it’s super easy – just click that APPLY button!
How to prepare for a job interview at Westpac Institutional Bank
✨Know Your AML/CTF Stuff
Make sure you brush up on the latest Australian Anti-Money Laundering & Counter Terrorism Financing Act. Understand its implications and how it affects international operations, especially in London, New York, Frankfurt, and Singapore. Being able to discuss specific regulatory changes will show your expertise.
✨Showcase Your Experience
With a minimum of 5+ years in financial crime compliance, be ready to share concrete examples from your past roles. Highlight your experience in AML/CTF policy impact assessments and how you've successfully navigated complex regulatory landscapes. This will demonstrate your capability to handle the responsibilities of the role.
✨Communicate Clearly
Superior written and verbal communication skills are key for this position. Prepare to articulate your thoughts clearly and concisely during the interview. You might even want to practice drafting a brief report or summary on a relevant topic to showcase your writing skills.
✨Engage with Stakeholders
Since the role involves consulting with various teams, think about how you can demonstrate your collaborative approach. Be prepared to discuss how you've worked with different stakeholders in the past and how you plan to foster positive relationships at Westpac.