Financial Crime Assurance Lead - Retail Banking - Internal Audit - Ass

OVERALL JOB PURPOSE

The team's purpose is to provide reliable, valued assurance to the Group Head of Compliance over compliance in relation to the application of particular internal rules & policies, external regulations, and where applicable, local laws and restrictions pertaining to Regulatory Compliance and Financial Crime.

The core responsibility of a Assurance Test Lead within BCA is to plan, execute and manage assurance reviews to delivery in accordance with the BCA 2013 Assurance Plan Refresh. 

KEY ACCOUNTABILITIES

ASSURANCE REVIEWS

FOR ASSIGNED ASSURANCE REVIEWS (MAINLY FINANCIAL CRIME AND INCLUDING COMPLIANCE/CONDUCT RISK) TO:

- Plan and scope Financial Crime assurance reviews  ( independent' assessments of the effectiveness & efficiency of Sanctions, AML and ABC Compliance-owned and operated controls) including preparation of the scoping document, in conjunction with the relevant SME, Group Policy Owner or delegate.
- Understand the processes, risk and controls within scope.
- Prepare and review key documentation covering scoping, process understanding, risk & control identification, control evaluation and observations/report.
- Manage the assurance review to ensure that relevant data feeds, risks and controls have been identified, appropriate test strategies and sample sizes have been adopted in line with method and the compliance of processes and the screening tool in meeting relevant policy requirements have been assessed.
- Lead discussions regarding observations arising from the assurance reviews, consulting with the Head of Compliance Assurance where necessary.
- Write high quality observations and assurance review reports
- Support Compliance management in identifying resolutions for control issues identified and/or non-compliance to policy, to address root causes.
- Provide oversight that Business Management address observations through to resolution.
- Manage the assurance review on a day to day basis, working to ensure that assurance reviews progress as planned, as regards scope, budget and schedule.
- Build relationships with Business Management on each assurance review and develop ongoing relationships with key stakeholders in aligned risk discipline.
- Liaise closely with BIA stakeholders to share findings and support their future audit initiatives.

IN ADDITION:

- Continue to update awareness of risk issues and changes across Regulatory Compliance and Financial Crime disciplines and use this knowledge to amend assurance review approach where necessary.
- Provide complete, accurate and timely information to stakeholders for Risk reporting.
- Produce standard risk/control Matrix for testing relevant Group Policy compliance, in conjunction with relevant SME within Compliance
- Manage relevant SOX testing to completion.
- Manage process to amalgamate and generate periodic principal risk returns.
- Proactively take on additional tasks and ad-hoc projects under the supervision of the Head of Compliance Assurance.

MANAGEMENT & LEADERSHIP

- Provide constructive feedback and evaluation to team members for assurance reviews.
- Conduct formal performance assessment/development of the Compliance Assurance Team Managers as directed by the Head of Compliance Assurance.
- Act as mentor and coach to less experienced team members.

KNOWLEDGE MANAGEMENT

- Improve technical knowledge and subject matter expertise (ie relevant IT applications, Regulatory Compliance/Financial Crime) through self-learning or training.
- Support others in developing themselves and adopting the relevant tools and testing methodologies.
- Knowledge sharing with Compliance colleagues and peers in the business.

PERSON SPECIFICATION

QUALITY, HIGH STANDARDS AND CONTROLS

- Consistently apply assurance testing methodology, developing approaches which are innovative, focused on key risks and controls and have efficient test strategies.
- Develop a strong knowledge of their aligned risk discipline. Shares this knowledge with others.
- Have a good understanding of pertinent regulations and key business systems within aligned risk discipline.
- Use their knowledge to assess the evolving risks on each assurance review.  Continually maintain awareness of advancements in relevant best practices, regulations, subject matter areas, risk management techniques and assurance testing approaches.
- Raise observations that are insightful, accurate, address the root cause and add value to the business, ensuring that assurance scopes reflect wider implications.

COMMUNICATION/INFLUENCE

- Ability to articulate complex issues, without jargon, clearly and concisely. Ensuring that work papers are concise, accurate, reflect work performed and allow for re-performance, where applicable, as well as support conclusions.
- Produce observations and assurance review reports which are concise and consider the perspective of business stakeholders and address the root cause. Coach others to do the same.
- Contribute insightful information to Risk Information.
- Communicate in an open, candid and complete manner to key stakeholders, making a positive impression on others.
- Listen effectively and actively probe for new and diverse ideas, encouraging others to share their opinion.

RELATIONSHIP/PARTNERSHIP APPROACH

- Raise and discuss contentious observations with business leaders and challenging management, adapting their style as necessary.
- Have effective relationships with Business Management, communicating regularly, creating an atmosphere where ideas and information are easily exchanged.
- Support Business Management in developing appropriate action plans to address observations raised.

DRIVE FOR RESULTS

- Manage assurance reviews which are efficient including the most effective use of resources and systems.
- Budget, forecast and deliver assurance reviews on time and on budget.
- Delegate effectively, empowering others to make decisions commensurate with their experience and expertise.
- Prioritise effectively to deliver on time.
- Be quick to learn and seek opportunities to share this knowledge with colleagues. Escalate issues quickly where necessary.
- Embrace change, support departmental initiatives and lead through example to devise and implement solutions.

TEAM BUILDING/TEAM PLAYER

- Continually raise the level of their performance.
- Praise exceptional performance in others.
- Embrace the Equality & Diversity agenda and support the Compliance specific activities.
- Mentor, coach and train individuals within their team.
- Provide timely, constructive feedback to team members including formal PD reviews.
- Seek feedback from peers and subordinates expanding on strengths and acting quickly to address anything which negatively impacts effectiveness.
- Seek to break down barriers between the Compliance Assurance team and the business acting in partnership with others to achieve collective team goals.

ESSENTIAL

- Internal Audit or External Assurance experience
- Deep experience in Financial Crime and Conduct Experience and risk/control activities or internal/external audit background.
- Relevant professional or academic qualification (Audit, Risk Management or Compliance related qualification).
- Financial services industry with general understanding of the UK governance, financial crime, regulatory framework, of recent developments and expected changes.
- Good understanding of banking activities and products.
- Strong analytical and numerical skills.
- Flexibility to travel and conduct, by exception, Non-Financial Crime/Conduct Risk assurance work (up to 50% may be required - domestic & overseas)
- Comply with Bank Values

PREFERRED

- Experience in compliance supervision and management
- Some technical assurance experience with knowledge of IT processes and controls and screening applications as well as SQL Query Management.
- Direct practical line experience in governance, financial crime, or compliance/conduct risk function.
- Specialist knowledge of governance, financial crime, corporate secretariat, law or regulation.
- Appreciation of the differing levels of financial crime, regulatory and legal risk across different markets and products.