AML Compliance Testing Officer
The Financial Crime Compliance Testing team exists to assist in the management and oversight of Financial Crime Compliance risk in the following ways:
• To complete Financial Crime Compliance Reviews using a strong, independent and consistent global process
• To pro-actively identify areas of Financial Crime compliance risk and escalate these to senior management for resolution
• To ensure that effective and timely corrective action plans are in place to address any areas of Financial Crime compliance risk that are identified
The goal of the Financial Crime Compliance Testing Team in EMEA is to perform planned reviews against Financial Crime (Anti-Money Laundering, Anti Bribery and Corruption and Sanctions) regulatory requirements and pertinent Citigroup processes.
The Financial Crime Compliance Testing Officer (The Officer) will be expected to review regulatory requirements to determine appropriate test programme coverage, execute and coordinate reviews of specific areas of Financial Crime regulatory compliance on a region-wide basis in coordination with other Financial Crime Compliance Testing staff, operating as a virtual team.
Key responsibilities of the Financial Crime Compliance Testing Officer (The Officer) will include but are not limited to:
• Leading or contributing to Financial Crime reviews covering various businesses and processes across all sectors that may either be in country or remote location; reviews will be conducted based on both those planned for the year (thematic, horizontal, targeted, ad-hoc) or on account of regulatory and/or business/industry issues:
o As lead, responsible for planning the review including engaging with the key stakeholders of the review; determination of scope and methodology; drafting of review programme; leading walkthroughs and identification of processes, systems and controls;
o As lead, responsible for the execution of the review in accordance with the plan and agreement of the reportable issues with key stakeholders; lead will also be expected to review the work papers of contributors;
o As contributor, ensure the execution of the review programme as designed and in accordance with the plan; where appropriate, be able to design compensating tests when plan is not possible to execute;
o Lead or contribute to the drafting and finalisation of the final report.
o Lead or contribute to the project management of the review to ensure timely start and completion of the reviews and that the Share Point is updated for all the reviews within the Group. This includes ensuring that deliverables from the businesses/product compliance are requested and/or received timely; potential delays are identified and resolved as soon as practicable. Where appropriate, escalate timely within the team or with the reviewee/relevant Financial Crime Compliance officer.
• Collecting and reporting Financial Crime reviews results to identify trends and areas of emerging risks; and to communicate analysis to internal stakeholders to ensure consistency in approach to testing and addressing Financial Crime emerging risks.
• Working on individual projects assigned from time to time within the Financial Crime Compliance Testing remit.
• The Officer will be a member of the regional Financial Crime Compliance Testing Team and will be expected to provide a strong advisory role in the unit’s activities, strategy and development.
• Assisting in day to day management of the Financial Crime Compliance Testing Team.
The successful candidate will play an important role in the Financial Crime testing activities of the unit providing opportunities to develop a more in-depth view of the businesses being tested from a regulatory and compliance perspective.
Furthermore, the officer will get an opportunity to work with other pillars/facets of controls while working on special project co-ordination initiatives.
The role provides a great opportunity to work in close collaboration with colleagues in different jurisdictions and at a global level and provides exposure to senior management.
Knowledge / Experience:
• Related industry experience with a background in Compliance, Risk or Audit, preferably gained in an international financial institution.
• Financial Crime Compliance experience is essential.
• Background and understanding of relevant AML laws and regulations, A B and C guidance and Sanctions regimes, and applicability to various business lines such as Cards, Mortgage, Retail, Commercial products , capital markets products, institutional and retail brokerage, and private banking.
• In-depth understanding of audit methodology, risk and control analysis.
• Prior exposure to markets and banking products, processes, procedures and regulations a benefit.
• A good knowledge of multiple control testing environments beneficial.
• Experience working with the handling and communication of complex concepts.
• Strong ability to manage and facilitate work projects both on the ground and with remote units
• Proven ability to work under pressure.
College/university education preferred, but an exceptional working track record will be deemed equally important.
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