The Commission is recruiting for an Assistant Director to join the Financial Crime Division.
The Financial Crime Division is responsible for the financial crime supervision of all firms and individuals licensed or registered by the Commission that are subject to the Bailiwick’s financial crime regime. This includes the financial crime supervision of a diverse variety of businesses, including banks, trust and company service providers, investment firms, insurers, insurance managers and insurance intermediaries, virtual asset service providers, as well as estate agents, law firms and those providing accountancy services. Using a risk based approach in its supervision, the Division focuses more of their time on those firms that present a higher residual risk of money laundering, terrorist financing and proliferation financing to the Bailiwick. Team members engage proactively with firms which pose the greatest financial crime risk by carrying out an on-site financial crime risk assessment to assess that firm’s financial crime risks and how well these are handled. In addition to on-site supervision, the Division’s off-site supervision focusses on policy, thematic reviews and data analytics. All firms subject to financial crime supervision submit data to the Commission on a regular basis, this is then analysed by FCD off-site team members to identify those areas which may present the greatest areas of risk. This data also helps to determine the frequency of financial crime onsite inspections to firms.
The successful candidate will have been working in a financial services or similar environment, have knowledge of and experience in using the Handbook on Countering Financial Crime (AML/CFT/CPF), be able to produce good quality reports, and have experience in or the potential to move into a line management position.
Highlights of the role include:
- Assisting the Director and Deputy Directors in respect of the operation of the Division on an ongoing basis, assessing procedures and systems utilised within the Division. Overseeing the activities of the functional team for which they are responsible, including the allocation of work to the relevant team’s staff.
- Demonstrating flexibility in managing changing priorities on a daily basis, reviewing and assessing the work of divisional staff, monitoring workloads of the Division and ensuring a high quality and quantity of work is produced by the Division.
- Planning and co-ordinating, along with the other on-site supervision Assistant Director, and with regards to divisional resourcing in conjunction with the two offsite supervision Assistant Directors, the Division’s financial crime risk driven on-site inspections in line with the Balance Scorecard target and through liaison with the Investment, Fiduciary and Pension Division and the Banking and Insurance Division.
- Leading or taking part in ad-hoc on-site inspections when required.
- Reviewing scopes for inspection and post-inspection reports and proposed risk mitigation programmes to ensure actions are proportionate and outcomes focussed.
- Identifying themes from inspections and headlining them to the industry where required.
- Being involved in the consideration of problem cases within the Division’s remit which may require some form of regulatory action, including formal enforcement measures, and referral and cooperation with the Enforcement Division.
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