Posted 4 days ago
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**Financial Crime Analyst (12-month Fixed Term Contract)** at the Bank of England requires managing and mitigating financial crime risks. Tasks include setting policies, assessing threats, identifying vulnerabilities, and implementing risk-sensitive controls. Key responsibilities involve transaction monitoring, providing financial crime advice, and expressing opinions to management. Ideal candidates should have experience in transaction monitoring, analytical skills, and curiosity about global affairs. A background in anti-money laundering, fraud control, or similar fields is desirable but not essential. This role is subject to national security vetting.
- Compensation
- £37,520 – £51,500 GBP
- City
- London
- Country
- United Kingdom
Currency: £ (GBP)
Full Job Description
Location: United Kingdom
The MBPR Deputy Governorship:
The Bank of Englands core mission is promote the good fo the people of the United Kingdom by maintaining monetary and financial stability. To deliver this mission, MBPR carries out diverse operations including: managing the Banks sterling and foreign currency balance sheets; managing national foreign currency reserves for HM Treasury; gathering market intelligence; offering banking services to HM Government and other central banks; operating Real Time Gross Settlement systems; and acting as the UKs resolution authority.
Job Description
Reporting to one of the Banks Deputy Money Laundering Reporting Officers (DMLROs), you will be integral to monitoring, managing and mitigating the Financial Crime risks posed to the Bank. The work of the Financial Crime team is very varied and involves working on multiple pieces of work at any time. The role has exposure to each of the Banks four stages when managing financial crime risks:
1. Setting policies and establishing risk tolerances
- Helping to monitor and benchmark legal and best practice developments and update our policies accordingly to meet the Banks risk tolerances.
2. Assessing the threats posed to the Bank
- Assisting with the monitoring of fast moving geo-political and other developments around the world and evaluating how they may pose a threat to the Banks operations.
3. Identifying the Banks vulnerability to the threats posed
- Completing assessments of the Banks internal control defences against the money laundering, terrorist & proliferation financing and sanctions threats.
4. Implementing controls on a risk sensitive basis
- Completing risk assessments of the MBPR customers, counterparties and participants. These will range from central banks to commercial institutions. The analyst will attend the Financial Crime Board and its subgroup to present assessments for review and challenge.
- Be responsible for daily monitoring tasks such as performing reviews and making decisions about transactions that are flagged as high risk and working with other teams to obtain further information where necessary.
- Providing financial crime advice to stakeholders across the Bank on how financial crime risks may crystalise and how these can be mitigated and managed.
Role Requirements
Minimum Criteria
- Ability to handle sensitive and confidential information in a discreet manner.
- Strong attention to detail and high-quality standards.
- Excellent analytical skills and the ability to make sound risk-based judgements quickly
Essential skills
- Experience in working in transaction monitoring and identifying/raising suspicious activity.
- A natural curiosity plus specific interest in global affairs and developments in financial crime.
- Confidence to express opinions and views and provide challenge to management.
- Strong workload management skills, with the ability to prioritise effectively the undertaking of day-to-day tasks and working on longer term analysis and projects.
Desirable Criteria
- An understanding of international correspondent banking and knowledge of the UKs Money Laundering Regulations and HMT sanctions regime.
- A qualifications or certification in Anti-Money Laundering (AML), fraud control, sanctions, or broader economic crime prevention.
- Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
- A discretionary performance award based on a current award pool.
- An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
- 26 days annual leave with option to buy up to 12 additional days through flexible benefits.
- Private medical insurance and income protection.
The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.
