Sanctions Screening Operations
- BBBH766707 Sep 18, 2020 Competitive
Sanctions Screening Operations Analyst
A very interesting contract position has just arisen at a Multinational Banking Company, they are looking for a Compliance professional with AML experience to join them on an 11 month contract.
- The Operations division of the business is at the very centre of all of the Bank's procedures. We develop prototype concepts into robust, reliable solutions, constantly evolving our existing product range to help the Bank maintain a competitive lead with our global clients. We are also in demand as internal consultants to the business, helping to manage the Bank's assets through effective risk management and control systems.
- The Sanctions Screening Operations Team forms part of the Operations function and performs Level 1 & 2 sanctions alert investigations for the Bank. The incumbent will mainly be responsible for conducting SWIFT sanctions screening within the Operations function to include investigating and releasing potential sanctions alerts, making enquiries to various business teams within the Bank and / or escalating potential true matches to the Financial Crime team for Level 3 investigations or guidance. The incumbent will also be interacting with key stakeholders such as Global Markets and other Operations teams within the bank. The role's remit will be ensuring that the Bank performs payments sanctions screening in line with requirements set by the Bank's Financial Crime function.
- Ensure that the rules and standards relating to sanctions set by the Financial Crime department for the Bank are met at all times.
- Adhere to appropriate standards, procedures and service levels for the Sanctions Screening Operations Team.
- Manage and process screening alerts passed by reviewers, performing 4-eye check, escalating potential matches to the Head of the Payments Sanctions Screening or beyond where appropriate.
- Identify sanctions risks using Fircosoft screening software tool.
- Ensure that the Group Email Inbox is managed daily to ensure that all correspondence is responded to in a timely manner.
- Work closely and collaboratively with the Financial Crime Team by building and maintaining good relationships.
- Escalate any aged items where more senior intervention may be required. - Continuously appraise the control framework to ensure compliance with relevant and associated regulations.
- Take time to understand the Sanctions Policy set by the Financial Crime function.
- Develop a strong understanding of the business operating model for Sanctions Screening.
- Assist the Head of Sanctions Screening in providing ongoing training to stakeholders and more junior team members where necessary.
- Maintain procedures and daily checklists to ensure that they are reflective of all appropriate key controls.
- Highlight any system or process issues to the Head of Sanctions Screening Team.
- Assist in the compilation of required performance and risk metrics.
- Work with the Head of Sanctions Screening Operations and Operations Control Team to close out any control action items emanating from risk incidents or audit findings.
- Work with the rest of the team in the timely delivery of system upgrades and associated testing.
- Complete and attest to having completed all training requirements.
- Observe all required deadlines for completing bank-wide tasks i.e. Appraisals/periodic attestations etc.
- Additional ad hoc duties or tasks as required/delegated by Management.
Qualifications and Experience
- Degree qualified or equivalent.
- Knowledge of global AML and sanctions rules and regulations
- Experience of using Fircosoft is desirable
- Relevant business knowledge
- Understanding of FCA rules and regulations or equivalent
- Understanding of risk and control
- Banking experience and understanding of trade lifecycle
- Knowledge of emerging markets
- Sound IT skills
Morgan McKinley is acting as an Employment Agency and references to pay rates are indicative.
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