Financial Crime Analyst

Location: Hybrid working with 5 days per fortnight in our Head Office.

Employment type:Full-time, permanent position.

Salary: £25,000 - £35,000

Working hours: 35 hours per week, worked flexibly.

Reports to: Head of Compliance.

The Organisation

Leek Building Society is an award winning, highly admired, local building society that is owned and trusted by its members.

We're a great place to work, with an exceptional culture, but don't just take our word for it. We ranked in the top 10 of UK employers, and the top 100 of global employers in the Inspiring Workplaces Awards 2024, and we're on a mission to become even stronger.

We're also a socially responsible, inclusive employer, deeply committed to ensuring that everyone is supported to perform at their best.

You'll be joining the business at a fantastic time of growth, with a transformational investment in our systems, people and processes to put our customers at the heart of everything we do.

Job Purpose & Scope

To provide subject matter expertise in the identification, investigation and prevention of financial crime to the Society. With a strong analytical mindset, sound regulatory knowledge and excellent people skills, the Financial Crime Analyst plays a vital role in identifying financial crime risks, working closely with the business in providing guidance, training and undertaking themed reviews to enable stakeholders to put in place effective solutions.

Duties and Key Responsibilities

Risk Management Framework

• Carry out detailed checking to confirm compliance across the Society's processes, systems and controls.
• Review and update financial crime policies and documentation in line with the Society's Policy Schedule including the Financial Crime Risk Policy, Financial Crime Risk Assessment and Financial Crime Handbook.
• Provide second line challenge and oversight at relevant committees, working groups and regulatory change project groups, supporting the business in the identification and management of financial crime risks.

Financial Crime Monitoring

• Manage daily alerts from the transaction monitoring system, investigating and managing cases through to satisfactory conclusion.
• Conduct regular reviews of the transaction monitoring system rules and parameters to ensure the outputs remain effective, providing recommendations to manage evolving financial crime risks.
• Complete effective investigations on Suspicious Activity Reports (SARs) received, providing clearly articulated recommendations to the MLRO and making relevant third-party disclosures.
• Conduct financial crime monitoring and Customer Due Diligence activities in line with the Risk & Compliance Oversight Plan and Risk & Compliance Oversight Manual, including:

- Financial Sanctions

- Politically Exposed Person's (PEPs), Special Interest Persons (SIPs)

- High Risk Customers

- Fraud Investigations - both internal and external, including ongoing monitoring of the control environment

- Production Orders, Court Orders, DWP requests

• Maintain the Society's Gifts & Hospitality register and undertake regular reviews to identify any trends or concerns.
• Produce and develop management information relating to financial crime risk and report to relevant committees, including contributing to the Annual MLRO report and Annual CRO report.
• Be an involved member of the BSA Financial Crime Panel and develop relationships with industry peers to understand, prevent and manage financial crime risk.

Thematic Reviews

• Identify external and internal financial crime trends and utilise these to develop and implement a plan of themed reviews with outputs used to inform the business on the management of financial crime risks.
• Produce and present accurate and insightful thematic reports with detailed findings and relevant remedial actions.
• Proactive engagement with business areas providing a bespoke advisory and support service to address identified gaps and enhance risk management.

Training

• Provide financial crime expertise in developing training material and e-learning content, including the delivery of workshops, role-specific training and induction training.
• Attend relevant external training courses and seminars, using outputs to inform and enhance business understanding and promoting a strong compliance culture.

Regulatory Requirements

• Proactively identify emerging areas of financial crime regulatory change relevant to the Society and engage with the business areas to inform and educate to enable effective implementation
• Accurately complete all financial crime related regulatory returns, including REPCRIM, REP017 and BSA returns and submit these in line with the regulatory returns timetable.

To carry out any other duties as may reasonably be required

Person Specification

Qualifications & Knowledge

• Diploma in Financial Crime Prevention (ICA), or equivalent, is desirable
• CeMAP is desirable
• An understanding of financial crime regulations, including wider FCA Conduct of Business Standards for Savings and Mortgages, in particular:

- FCA & PRA Handbook

- Money Laundering Regulations, including Money Laundering Directive

- Financial Action Task Force (FATF)

- Proceeds of Crime Act

- Serious Organised Crime and Police Act

- Joint Money Laundering Steering Group (JMLSG)

- Bribery Act

- Authorised Push Payment Fraud

- Knowledge of sanctions regulations in place by OFAC, EU, UK, UN

- Modern Slavery Act

Experience

• Working understanding of financial services in a Building Society or Banking environment is essential
• Experience within a second line risk / compliance function is desirable
• Ability in interpreting regulation
• Practical experience of change delivery through projects is desirable
• Proven ability to facilitate training sessions

Skills & Abilities

• Strong analytical skills with ability to interpret and challenge data
• Proven excellent report writing skills are essential
• Sound knowledge of Word, PowerPoint, Outlook and Excel
• Confident communicator in articulating issues, challenging stakeholders and reaching suitable outcomes
• Able to build strong working relationships, work collaboratively and influence others

Other Requirements

• Self-motivated, flexible with the ability to meet tight deadlines
• Ability to work out of hours on occasions (e.g. attendance at external seminars)

What benefits are on offer:

• Competitive salary rates
• 35 hour working week (full-time)
• Contributory Stakeholder Pension Scheme
• Free health screening
• Minimum of 23 days paid holiday per annum plus bank and public holidays
• Parental Schemes
• Sick Pay guaranteed for 6 months for major illnesses
• Holiday purchase/sale scheme
• Life assurance of 4 times your annual salary
• Employee assistance programme
• Continuous development opportunities
• We're open to discussing working flexibly
• Onsite gym available to employees

If the above sounds like something you'd thrive at, we'd love to hear from you