Sanctions Officer, with a detailed level of sanctions knowledge, is required to manage the sanctions systems responsible for sanctions screening/filtering.
Particular focus will be applied to UK Sanctions regimes and the impact these have on systems, alerts and list management to ensure compliance with local sanctions regulations whilst keeping in line with group standards.
· You will support the Head of Sanctions to ensure the UK bank has the systems infrastructure to comply with Group Sanctions Policy and any specific additional UK legal and regulatory requirements regarding Sanctions & Embargoes
· Act as one of the lead contacts for Sanctions & Embargoes systems in strategic and tactical projects affecting the banks UK Branch
· Ensure a governance and oversight framework is sufficiently maintained to manage Sanctions & Embargoes systems
· Provide SME technical Sanctions & Embargoes advice to the UK and the offshore teams
· Ensure that local procedures required to implement relevant Group Sanctions & Embargoes Policies are maintained up to date and appropriate
· Support on team processes carried out under Group and Local Policies such as List Management, alert processing, controls and management information
· Providing Sanctions & Embargoes raining where appropriate to staff on a number of relevant laws, regulations
Skill, Experience & Competencies:
· This is a technical role with responsibilities for understanding to an advanced level key Sanctions & Embargoes filtering and screening systems, e.g. Fircosoft
· High-level knowledge of payment types and systems (SEPA, CHAPS, UK Faster payments etc.) and SWIFT types (MT and MX).
· Ability to thoroughly read SWIFT and MX messages.
· Detailed working knowledge of the sanctions regulatory environment (e.g. UK, EU, US, UN, French etc.) is required to identify sanctions risks and address these to meet policy and regulatory expectations.
· The ability to identify critical risks and be confident to ask questions during queries/alert investigations/reviews to support the banks control environment to manage the bank's sanctions risk. This will be key as part of the continuous programme to enhance processes.
· Time management, effective communication and teamwork are also critical elements
· Significant experience working in a financial crime advisory environment – including AML, Financial Sanctions within corporate investment banking background
· Strong track record in assessing Sanctions risk/cases and making (and documenting) informed decisions to mitigate Sanctions risk / escalate accordingly.
· A broad understanding of general AML risk issues in a corporate investment banking background
· Some experience and understanding of new technology in financial services (for example, Payment Service Providers, Cryptocurrencies etc.) and the sanctions and broader financial crime risks inherent in such products
· The ability to apply a holistic approach to identifying, investigating and mitigating financial crime risk, and the ability to consider a range of risk mitigants, to present a balanced opinion of key issues to line Management