Head of BaaS - Financial Crime Intelligence (Fully Remote) Head of BaaS - Financial Crime Intelligence (Fully  …

As Head of BaaS Due Diligence, you will be responsible for completing the risk assessment on all new BaaS Partners and for ongoing oversight in line with Policy, Standards and procedures. In doing so you will be responsibile for identifying, understanding and mitigating the financial crime and reputational risks involved in entering new BaaS.

Under ClearBank’s Banking as a Service (BaaS) BaaS model, a firm is able to offer to its customers a deposit account, protected by the Financial Services Compensation Scheme (‘FSCS’). The deposit account is provided by ClearBank under its deposit taking licence. The fulfilment of obligations related to the bank account, particularly regulatory, is done by the BaaS partner under an outsourcing agreement between the BaaS partner and ClearBank.

ClearBank expects its BaaS partners to operate and maintain an effective FCC framework and will assess this at onboarding and part of its ongoing oversight activities.

The BaaS Due Dilligence team is part of the overall Financial Crime Intelligence (FCI) function responsible for identifying, understanding and mitigating the financial crime and reputational risks involved in entering new business relationships and maintaining / expanding existing relationships. The FCI team has specific responsibilities covering Due Diligence, Transaction Monitoring, Customer / Payment Screening and Fraud. These responsibilities apply to new and existing customers.

About You

As Head of BaaS Due Diligence, you will be responsible for completing the risk assessment on all  new BaaS Partners and for ongoing oversight in line with Policy, Standards and procedures. In doing so you will be responsibile for identifying, understanding and mitigating the financial crime and reputational risks involved in entering new BaaS. You will continually ensure the customer risk profile and FCC Framework falls within ClearBank®s risk appetite and escalate issues or regulatory breaches through relevant governance forums. As a senior member of the team you will be required to provide technical advice / support in addition to providing ongoing professional development for your team.

You will need to take a flexible approach in your responsibilities. As such you will be required to undertake additional duties as commensurate with your experience    

Core Skills and Experience:

• Ownership and maintenance of BaaS procedures ensuring compliance with all internal policies, Standards, industry guidance and regulation
• Act as an escalation point providing technical guidance to RM’s / Onboarding colleagues
• To collate and review Management Information
• Complete Due Diligence to assess and manage the risks from new BaaS relationships ensuring compliance with Financial Crime’s Policies, standards and procedures.
• Undertake Monitoring and oversight of existing BaaS Partners in accordance with standards and procedures.
• Support in the delivery of relevant aspects of the AML & Sanctions Enhancement Programme
• Support in the development and delivery of quarterly technical training to colleagues
• Provide Subject Matter Expertise on change programmes or new product development
• Support the development and implementation of new systems and controls
• Escalation of all material financial crime risks for further consideration and / or action
• Build and maintain relationships with stakeholders across the business to meet role objectives and deliver key activities
• Maintain knowledge of all relevant financial crime legislation, regulatory changes and industry best practice.
• Promote the importance of financial crime issues and act as a point of guidance for stakeholders
• Build the knowledge and capability of individuals within the team by providing structured development managed via a Financial Crime accreditation programme.

Financial Services/Banking Experience:

• Significant knowledge of financial crime control frameworks and regulatory standards.
• Strong knowledge of sectors such as money remittance, electronic money, APIs, Cryptocurrency firms, and merchant acquirers.
• Significant knowledge of UK and EU AML/CTF legislation (international AML/CTF knowledge is advantageous)
• Significant knowledge of money laundering typologies across a range of products and services in financial services.
• Significant experience dealing with complex business models, PEPs, sanctions, red flags, and suspicious activity investigation ideally within Correspondent banking relationships.

Key Skills and expertise

• Self-starter, able to work independently when needed, and to prioritise tasks.
• Ability to communicate and negotiate with key stakeholders
• Strong attention to detail and good judgement.
• Work to tight deadlines under pressure whilst maintaining high level of quality and competency
• A recognised AML / Sanctions / Fraud qualification is desirable but not essential.

We are looking for motivated team players who are delivery focused and can suggest solutions as to how things can be done better, as we’re always looking to improve and do things differently. It is important that you have this mind-set too. 

About what we offer

• A supportive, challenging and agile environment
• You’ll also get to work in one of the most exciting Banks in the market right now

The legal bit

Please only apply for this role if you are eligible to work in the UK.

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Perks, benefits and rewards

Personal Development

• Great learning and promotion opportunities

Holiday

• 32 holidays a year (including bank holidays)

Health

• Private medical and dental cover

Pensions

• 6% employer contribution through the ClearBank scheme

Family

• Enhanced maternity, paternity and adoption leave

Community

• 2 days off each year to do something bigger than ClearBank

Diversity and Inclusion

Diversity & Inclusion are key to our mission. At ClearBank we recognise and respect that each individuals unique perspectives are what allows us to build the bank we all enjoy working in. We believe that the difference between people creates value. We focus on inclusion to create a safe and welcoming workplace culture which encourages and enables people to achieve their best, innovate and most importantly speak up to make us better.