The Commission is recruiting for Senior Analysts to join the Financial Crime Division due to team expansion.
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 candidates will have the opportunity to join the on-site visit team in a varied role and will ideally have a good working knowledge of the Handbook on Countering Financial Crime (AML/CFT/CPF) and experience with writing good quality reports.
Highlights of the role include:
- Assisting with maintaining and developing the Commission’s relationship with its licensees. This could include analysis of matters requiring the Commission’s approval, consent or comment (changes of control, directors, surrender of licences etc.)
- Planning and attending on-site visits; conducting research, analysing and identifying key issues in information and data and considering matters to raise. Reviewing files, assessing risks and accurate minute taking.
- Analysing licensees’ periodic returns and financial statements and any other information which might affect their continuing ability to meet the licensing criteria.
- Analysing the sector as a whole, producing trend documents, incorporating risk based analysis and presenting findings back to the industry sector as necessary.
- Leading on-site visits using in depth questioning to obtain specific information to ensure thorough analysis is carried out.
- Preparing and presenting visit findings, feedback to licensees and following up matters raised.
- Preparing and presenting licensee cases to the Risk Governance Panels.
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