Senior AML Associate

UK-London
ID
2017-1576
Department
Compliance

Overview

Interactive Brokers UK (“IBUK”) is a rapidly growing direct-access electronic trade execution and clearing broker for active traders, institutional investors, financial advisors and introducing brokers. It is increasing its client base, introducing new products and connecting to new markets. The firm is authorized and regulated by the FCA.

IBUK is a subsidiary of the large international financial services group, Interactive Brokers Group, Inc., based in Greenwich, Connecticut USA (NASDAQ: IBKR). The Group employs over 1,000 people worldwide and provides electronic brokerage services to more than 365,000 customers in trading securities, commodities and foreign exchange in 23 currencies on 100+ market centers across 24 countries around the world. By building and operating highly automated systems in all aspects of its business the Group seeks to deliver these services at the lowest possible cost to its clients.

IBUK is seeking a Senior AML Associate to join our rapidly growing company. The key objective of the Senior AML Associate role is to ensure that IBUK is in compliance with the rules and regulations of regulatory agencies, that company policies and procedures are being followed and that appropriate controls and surveillance are taking place.    

 

The successful candidate will participate in the review of KYC/Client Onboarding. The candidate will face the company’s onboarding team as well as the sales and client services teams, and provide guidance and feedback to ensure expedient compliance account processing. The Senior AML Associate will also be expected to provide a proactive approach to solving compliance and legal issues. The role will ultimately answer to the MLRO. This position is based in our London office. The candidate should aspire to become the MLRO in approximately 3 years.

Responsibilities

  • Assist with any queries relating to KYC processes to ensure adherence to internal procedures and industry best practice;
  • Interact with our onboarding team, etc. to obtain KYC and other compliance information and documentation on a case by case basis;
  • Suggest and implement new efficiencies in the on-boarding process;
  • Perform rolling due diligence especially with regard to PEPs, and other high risk accounts and AML-related reviews;
  • Assist in the supervision and establishment of ML controls e.g. transactions, deposits, withdrawals etc.
  • Assist in drafting, updating and monitoring the company’s policies and procedures for relevant business areas;
  • Gather information and prepare responses to enquiries from the FCA and/or other EEA regulatory bodies or law enforcement agencies; draft SARS for the NCA;
  • Assist with transaction inquiries and any related reporting requirements;
  • Carry out any other ad-hoc tasks at the request of the Compliance Officer, etc such as preparing the MLRO Report; and
  • Draft and coordinate responses to the Financial Ombudsman Service.

Qualifications

  • A good working knowledge of POCA, JMLSG, Third Money Laundering Directive and the key FCA principles for businesses and/or financial services sector (brokerage, bank or securities industry). Experience of 5-7 years + preferred;
  • A Bachelor’s degree in law or a finance;
  • Ability to work flexible hours;
  • Solid knowledge of KYC processes and understanding of the requirements for risk-based approach to on-boarding;
  • Strong analytical skills to use data/metrics for risk monitoring as well as good oral and written communication skills; ands
  • Must have ability to work in a pressurized medium-size office environment.

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