FCC Retail Financial Crime Compliance Specialist (function class 17)

FCC Retail Compliance Officer

Role & work environment

Financial Crime Compliance Retail Belgium (FCC Retail) team within the compliance department is the second line of defence function supporting the retail segment in Belgium for the purpose of managing Financial Crime Compliance (FCC) risks.

The team of Retail Banking FCC specialists (advisors) is dedicated to support the retail business in complying with FCC policies and regulations in line with the Compliance Risk Management Charter by performing horizon scans, maintaining the policy framework, supporting & challenging risk assessments, delivering advices, assuring training & awareness, tracking issues and escalating where and when needed. At the same time it looks for global alignment and uniformity in approach in order to contribute to efficient KYC-processes and a flawless client experience. The team is working together based on knowledge and expertise, as well as the skill set needed to best perform the job.

You report  hierarchically to the Head of the FCC Retail Team, who reports to the Head of Financial Crime Compliance, being the Anti-Money Laundering (AML) Compliance Manager of ING Belgium.

Key responsibilities

The position is a key channel for advice, training, translating (external) developments to the retail Banking environment as well as communicating and sharing of best practices. As an expert in the FCC domain your main focus lies on Anti-Money Laundering (AML), Economic and Financial Sanctions including Export Controls and Proliferation Financing which translates to the following (non-exhaustive) overview of activities, which you will execute autonomously:

• Maintaining expertise and in depth subject knowledge and understanding of good practice and procedures in the FCC domain (continuous development) in Retail banking;
• Point of escalation and coordination for Retail Belgium, specifically:
  • Analysis, challenging and advice on customer due diligence escalations triggered by:
    • new client Onboarding;
    • client reviews (periodic, event driven) including transaction analysis;
    • Offboarding;
    • Waivers.
  • Analysis, decisioning and follow through on FCC alert escalations triggered by:
    • Pre transactions screening;
    • Name screening (PEP);
    • Negative News Screening.
  • Advice on flagged corporate lending and trade finance transactions.
• Support the business, FCC Belgium and Corporate FCC function in maintaining the retail FCC control framework by translating regulations and requirements to practical implementable policies, guidelines, instructions or solutions;
• Advising on risk appetite setting and translation thereof in compliance related processes;
• Pro-actively oversee and advice (partner) with our Belgian and global retail  businesses on the embedding of the FCC controls within the retail domain by analysing and formulating advices on the compliance risks of products, processes or projects or delivering support and challenge when needed any risk assessment or mitigation (e.g. participating SIRA). Work from the basis of what’s possible within the confines of law and regulations and at the same time enabling the business in achieving sustainable growth. Proceed to instructions or escalation if advices are not considered;
• Assure in close cooperation with the retail business that all identified FCC risks are correctly registered in I-Risk and follow-up the correct closure of the mitigating actions. Pro-actively inform compliance management on the evolution of the FCC compliance risk management in your domain;
• In close collaboration with colleagues of other compliance teams, promote/enhance the knowledge and awareness with regards to FCC within the organisation by a.o. liaising with 1st line of defence (senior) management and contribute to the drafting and/or implementation of the annual compliance  training plan;
• Represent the FCC Retail team in programs, internal and external workgroups by coordinating, providing input, defending his/ her position, challenging the discussions and communicating the output to the members of the team;
• Identify key areas for improvement and provide support and guidance to implement good practice;
• Drive the implementation of automated process, robotics or data analytics techniques in order to maintain the efficiency of the FCC retail compliance related processes and tools;
• Support the head of FCC Retail in providing clear and convincing compliance risk management reporting  in all its forms, in reviewing internal and assessing external reports;
• Align the activities and seek for uniformity in approach of the Retail MLRO/FCC community with the global functions;
• Be a support and coach for his/ her colleagues and helps them in their challenge an decision making.

Key Competences

A colleague with a talent for taking it on and making it happen, enthusiasm for helping others to be successful and a knack for always being a step ahead. In other words, you strive to bring fresh ideas to life and embrace challenges in a fast changing and complex environment. You are a naturally collaborative person who listens and invests in others to achieve common goals. You love to challenge the status quo and are eager to propose creative solutions to problems.

As a FCC Retail Compliance Officer you will also need:

• A master degree in Law, Economics or equivalent in experience;
• More than 6 years’ work experience in a control (compliance, financial control, audit, …) in a retail banking world or equivalent;
• Very good knowledge on the industry trends and ever changing FCC compliance regulations & procedures;
• Advanced specialised course in FCC or proven experience in a top-tier bank whose control framework has been thoroughly scrutinised is a plus;
• Strong in written and spoken English; French and/or Dutch are beneficial;
• Good analytical skills, interest for data (analysis) and the way to process them, as well as a keen eye for detail;
• Very good knowledge of Excel, Powerpoint, knowledge of other software application is a plus;
• Able to use different communication styles fitting with the need of the (internal) customer, both verbally and written;
• Being able to quickly integrate new concepts, procedures, modifications in the organisation or methodologies;
• Good skill set in the areas of personal effectiveness (i.e. autonomy, team spirit, courage and self-confidence, problem solving & result oriented by delivering as promised, “hands-on”, good written and oral communication, capable to work in changing circumstances, customer focus and investigative & learning ability).

Reference function: Compliance Officer IV