Financial Crime Compliance Officer
Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.
The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a leading franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 36 offices worldwide, the Group has over 1,800 employees across Europe, Asia and America.
For more information visit www.marex.com
The Financial Crime Compliance (FCC) function forms part of the second line of defence in the Firm’s three lines of defence model.
A critical part of FCC’s responsibilities is establishing and maintaining a robust financial crime prevention framework that suitably address the Firm’s legal and regulatory obligations and wider expectations/best practices. FCC must also ensure that the financial crime prevention framework remains effective, and therefore also provides oversight and independent challenge of first line of defence financial crime risk management activities and associated financial crime systems/controls. A core activity to achieve this is FCC’s assurance monitoring programme, through which first line of defence compliance with internal policies, standards and related procedures is assessed.
The Financial Crime Compliance Officer will be primarily responsible for supporting the delivery of the assurance monitoring programme. This will require the identification of deficiencies in the first line of defence’s implementation of the financial crime prevention framework through performance of an annually agreed plan of assurance assignments (thematic and targeted). The issues identified, and the corresponding recommendations/agreed action plans to address deficiencies, are reported to relevant senior and executive management through formal reports. The agreed actions are monitored for completion within defined timeframes to ensure the appropriate and complete remediation of gaps is achieved; regular reporting on the progress to complete actions is similarly reported to senior and executive management.
• Scope and carry out reviews of financial crime and sanctions control environment through supporting delivery of the annual financial crime compliance assurance plan (“FCCAP”)
• Draft scoping and objectives memorandums for all allocated assignments which suitably identify the core objectives and control areas subject to the assurance review
• Perform mapping of key risks and legal or regulatory obligations against the processes and procedures under review
• Assess the design adequacy of the controls under review through mapping of keys risks and legal/regulatory obligations against the existing control environment.
• Test the operating effectiveness of the controls under review through designing appropriate testing programmes
• Identify opportunities to improve controls and related processes through applying a meticulous approach to the review and testing approach
• Provide robust yet professional challenge to the first line functions through applying a sceptical mindset when assessing the design and operating effectiveness of controls
• Present findings (interim and finalised) both verbally and in written form to relevant stakeholders both within the FCC team and the wider first line functions
• Prepare accurate and professionally articulated reports that describe and explain any issues identified, and the recommendations for improving associated control activities
• Agree appropriate actions with first line management teams, in line with FCC’s recommendations, to adequately address the issues identified and ensure the control environment facilitates management of financial crime and sanctions risks within risk appetite
• Ensure progress of the completion of assurance actions is effectively monitored, reported and escalated (where falling overdue, or insufficiently addressed)
• Ensure all work is robustly documented so that a full audit trail of the assurance review process is available, and that all working papers and other relevant documentation is saved centrally within the Team’s network folders for accessibility and recordkeeping purposes.
• Maintain positive and effective working relationships with the FCC team, the first line of defence functions, and other relevant stakeholders
• Support the delivery and ongoing development of management information and reporting relevant to FCC’s assurance programme
• Support the MLRO (and other Senior members of the FCC team) in developing the assurance programme, and contribute to the development of the assurance methodology and framework
• Support the FCC team with other responsibilities as considered necessary from time-to-time, which may include, amongst other things: (i) financial crime advisory activities; (ii) delivery of training to the first line functions; and (iii) development of management information and contribution to internal reports
• Ensure compliance with the company’s regulatory requirements.
• Adhere to the operational risk framework for the role ensuring that all regulatory or company determined parameters are complied with.
• Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values.
• At all times complying with the FCA’s Code of Conduct / Marex’s Code of Conduct.
• Ensure that you are fully aware of and adhere to internal policies that relate to you, your role or any other activities for which you have any level of responsibility.
• Report any breaches of policy to Compliance and/ or your supervisor as required.
• Escalate risk events immediately.
• Provide input to risk management processes, as required.
• A collaborative team player, approachable, self-efficient and influences a positive work environment
• Demonstrates curiosity
• Resilient in a challenging, fast-paced environment
• Ability to take a high level of responsibility in a fast pace and high-volume environment
• Excels at building relationships, networking and influencing others
• Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness
Skills and Experience:
• Good understanding of financial crime and financial services and products.
• Good PC operating skills,
• Excellent understanding of screening systems including extracting and analysing data
• MS Excel skills essential.
• Organizational and time-management skills.
• Decision-making skills.
• Understanding of performance metrics.
• Excellent verbal and written communication skills.
• Experience working in a regulated environment and knowledge of the risk and compliance requirements associated with this.
If you’re forging a career in this area and are looking for your next step, get in touch!
Marex is fully committed to being an inclusive employer and providing an inclusive and accessible recruitment process for all. We will provide reasonable adjustments to remove any disadvantage to you being considered for this role. We value the differences that a diverse workforce brings to the company. We welcome applications from candidates returning to the workforce. Also, Marex is committed to avoiding circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.
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