Description
Main function of the job
- To assist with preparation and review of PEP On-boarding and Annual Review forms
Subject Matter Expert with respect to:
- Global AML Policy including PEPs
- The appropriate UK legislation with respect to AML and PEPs activity
There is a high degree of responsibility attached to this role as the role holder will be responsible for making recommendations to Senior PCB Management and Senior Financial Crime Management with respect to maintaining or otherwise PEP and other High Risk customers within the PCB customer portfolio
Responsibilities include:
Investigations (90%)
- Managing the associated risk of Politically Exposed Persons (PEPs) on a day to day basis without compromising the requirements of Global and PCB AML Policies.
- Preparation of reports to Stakeholders giving guidance to Frontline Monitoring with respect to the requirements of these reports
- Stakeholder management with respect to other business areas, particularly Premier, Mortgages and the Central AML function. Note also that Business Banking PEPs currently still remain within remit
- Oversight of the central PEP register for PC&M
- It is likely that the job holder will be asked to give guidance with respect to other High Risk customers within the PC&M portfolio
- To undertake reviews and make recommendations for exit where adverse information on a customer exists - specifically in the case of High Risk Customer Reviews
- To assist with PEPs output from the current screening software - OEDQ.
- Using Bank systems & external information sources to look for instances where products are being used for money laundering.
- To prepare bespoke reports
Other 10%
- To support the management team within PB&M Financial Crime team including the ability to get involved in discrete policy work.
- Preparation of MI
- Interacting with internal and external contacts on behalf of the team
- Ad hoc project and enquiry work
- An understanding of transactional banking including interpretation of financial data.
- An understanding of the Bank's Anti Money Laundering & Sanctions Policies
- Understanding of UK regulatory environment/policies/constituent parts
- Understanding of the structure & business units
- General knowledge of PC&M products, markets and delivery channels
- Robust understanding of risk management and its value to the organisation