Financial Crime and Compliance (FC&C) department is responsible for ensuring that all Financial Crime and Compliance risks within the Bank are identified, managed or mitigated. It establishes and maintains the Bank’s regulatory communications, compliance risk management, regulatory reporting and compliance advisory. As a Senior Associate - Transaction Monitoring, you will support with day-to-day operations within the Financial Crime and Compliance department in respect to Transaction Monitoring. You will ensure the Bank has robust monitoring in place by identifying and investigating transactions or activity associated with money laundering or terrorist financing and potential matches against sanction lists. This is a full time permanent position.

REQUIREMENTS

• Degree educated preferably in Law, Banking or Finance
• Banking and/or Compliance related qualifications (e.g. ICA Certificate in AML)
• Experience in Banking industry
• Experience in record-keeping and production of MI
• Knowledge of financial products and services
• Knowledge of the FCA/PRA Handbook, AML and CTF, Sanctions, JMLSG Guidance, FATF and Wolfsberg is preferred
• Attention to details
• Good problem solving skills
• Team player
• Excellent communication skills
  Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing an excellent financial service to the market and maintain its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalised overseas branch in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy the equal opportunities to grow both personally and professionally

• Undertake daily transaction monitoring activity in a timely and accurate manner. Support the team to ensure monitoring alerts reviewed by business units are managed effectively
• Understand potential money laundering trends and red flags that may determine whether further investigations are required
• Liaise with business units, support departments and sub-branches, as required, in respect to the transaction monitoring activity they have undertaken
• Undertake sanction checking activity in timely and accurate manner, assessing whether payments should be accepted or rejected and providing clear reasoning behind decision making
• Escalate specific cases and direct matches as required by policies and procedures
• Upload HM Treasury and OFAC lists to the Bank’s systems and circulate all updates to business units, support departments and sub-branches
• Through monitoring activity, provide feedback on the performance of transaction monitoring and sanction-checking systems and associated rules, to enable any improvements to be considered
• Develop an awareness/understanding of AML and financial crime risk profiles in relation to the retail and wholesale business. Contribute to assessing risks to ensure the control framework is robust and complete the annual updates
• Support members of the team in project work and product launches, paying particular attention to Financial Crime related implications
• Assist in planning, preparation and delivery of AML and financial-crime awareness-related training to other team members and Bank staff as directed by Team Leader or Line Management
• Be aware of outputs from the regulator and planned changes to regulation and legislation that may affect the activities of the Transaction Monitoring team
• Keep up to date with and maintain a good level of knowledge and understanding of the relevant UK regulations with respect to Financial Crime and Anti-Bribery and Corruption
• Have comprehensive understanding of the Bank’s internal ‘Prevention of Money Laundering and Combating Terrorist Financing’, ‘Financial Crime’, ‘Customer Due Diligence’, and ‘Anti-Bribery and Corruption’ Policies and Procedures and keep up to date with any changes made
• Build and maintain awareness and understanding of the Bank’s business strategy, structure, and processes of the retail and wholesale business areas and associated supporting operations
• Maintain an awareness of UK regulations regarding general compliance matters including, FCA/PRA Handbook, MiFID, PSD, CCA, DPA and their implications upon the business activities of the Bank and in particular how they impact meeting Financial Crime regulatory requirements
• This role requires working in weekly shift patterns