Internship FEC Intelligence & Investigations

at  ING

YOUR ROLE & WORK ENVIRONMENT

Financial Crime Compliance (FCC) Governance & Controls Belgium is the second line of defence function supporting ING Belgium, its underlying entities and the Anti-Money Laundering (AML) Compliance Manager in managing the FCC risks.
The Governance and Controls function includes oversight of 1st line of defence AML related processes & sourced activities, the monitoring of customers’ activities (aka Transaction Monitoring) as well as the investigation of atypical & complex cases regardless of the source of identification (Adverse Media Screening, Transaction Monitoring, Name Screening, …) and the handling of special requests (Police, Prosecutor, FSMA, FIU, …).
The mission of Governance and Control team aims to identify and report on emerging threats and risks stemming from known and evolving forms of Financial Economic Crime (FEC), such as money-laundering, terrorist financing, corruption, and transnational and organised crime.
The team is working together based on knowledge and expertise, as well as the skill set needed to best perform the job.

YOUR KEY RESPONSIBILITIES

The role of the FEC Intelligence & Investigations intern analyst is critical for the Bank’s defence against money laundering, terrorist financing and fraud. As an intern with a strong focus on investigation, you take part in the execution and further development of the anti-money laundering strategy of the Bank by reviewing client’s profile and transactions, reporting unusual transactions, analysing trends and providing input on emerging risk or risk typologies to strengthen the existing risk control framework.

You will be responsible for the following (non-exhaustive) overview of activities:

• Reviewing and responding to questions from (external) stakeholders
• Collecting essential client information, documentation and performing initial checks to understand the financial crime risks to clients in the triage process
• Helping with the initiation, reviews and reporting related to thematic reviews. Thematic reviews can be based on the identification of patterns or trends with regards to completed FEC reviews, via newly identified threats (e.g. FinTech, prepaid cards, cryptocurrencies, etc.), (re-)appearing typologies (e.g. money laundering via the art sector, securities business, sanctions circumvention via changes in vessel ownership or specific geographic regions, etc.) or on the basis of public disclosures/media reporting (e.g. Panama Papers, Russian Laundromat, 1MDB, Pandora Papers etc.) The purpose of thematic reviews is to assess whether ING Belgium is sufficiently in control with regards to its exposure to FEC risks, and where necessary to adjust its policies and controls. This with the ultimate goal to prevent illicit flows of funds entering the bank, or to duly report them to the authorities by means of high-quality reporting.
• Provide input to the creation and maintenance of the procedures and WPI of the team and sourced FCC activities;