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Head of Financial Crime Remediation

Job Title: Head of Financial Crime Remediation
Contract Type: Permanent
Location: Sydney
Reference: 2832983
Contact Email:
Job Published: October 16, 2018 17:06

Job Description

Anti-Money Laundering (“AML”)/Countering the Financing of Terrorism (“CFT”) risk continues to be our clients key area of focus, managed this through appropriate Customer Due Diligence (CDD) undertaken at the stage of customer on-boarding and periodical review. The Head of Financial Crime Remediation role is part of a project, focused on reviewing and remediating the financial crime compliance across the bank. This role reports directly into the Director of Financial Crime.

Key Responsibilities: 
  • Lead overall Know your Customer (KYC) related - gap assessments and compliance monitoring including the assessment of which clients are in scope or should be off-boarded.
  • Lead review and gap assessment of existing customer data and related data controls
  • Prioritise new customers on-boarding working alongside Business and Financial Crime Compliance (FCC) Stakeholders
  • Implement process and controls for tactical remediation and onboarding of new customers during remediation process
  • Identify control or procedural gaps and work towards a resolution
  • Ensuring adequate reviews of customer files and validation that all policy requirements are met
  • Demonstrate the ability to adapt timely and adequately to the new AML/CFT policies and processes changes and lead the team to comply with the new standards
  • Develop and maintain Management Information (MI) reporting in accordance with business and FCC requirements
  • Provide support to Internal and External audit related queries
  • Coach less experienced employees especially with reference to the risk management procedures, technical guidance on the engagement, preparation of working paper file, collection of relevant documents as support etc.
  • Identify control / performance improvement opportunities
  • Continuously develop skills and knowledge in the areas of AML, sanctions, fraud investigation, anti-bribery & corruption and fraud risk assessment.
  • Manage the close interaction between the Business and Financial Crime Compliance teams to ensure seamless communication and consistency
Key Requirements:
  • Strong understanding of KYC / AML, particularly in Financial Institutions, Corporates and Asset Managers
  • Good knowledge and undertaking of the global/ local risk management procedures of and responsibility for ensuring its compliance in day-to-day operation of engagements
  • Experience in managing a team
  • Excellent eye for details and strong analytical mindset
  • Able to work independently
  • Ability to work under pressure in a team environment
  • Self-motivated, able to work independently when needed and to prioritise tasks
  • Minimum 8 years of experience in the CDD process focusing on AML/CFT with respect to new customer On-boarding and Periodical Review.

If you are interested please contact Liam Sweeney on 02 9775 5930.