Financial Crime Middle Office QA/Remediation Director

  • Sector: LMA UK Compliance & Financial Crime
  • Contact: Nikolai Balzer
  • Client: LMA
  • Location: City of London
  • Salary: £100000 - £115000 per annum + Full benefits + Bonus
  • Expiry Date: 30 January 2023
  • Job Ref: BBBH411535_1674485954
  • Contact Email:

Fantastic opportunity to join a dynamic Global Bank as part of their Financial Crime Middle Office (FCMO) Team!

Purpose of Role

  • To manage a team of Quality Assurance Officers across EMEA contributing to the first line of defence, in the three lines of defence model. The role is designed to improve the quality and control within the Bank, by sample checking the work of the KYC team responsible for onboarding new clients into the Bank, and conducting periodic due diligence on all existing clients, using a risk-based approach.
  • To provide operational and strategic advice, guidance, and training across EMEA on the quality of KYC onboarding, periodic review, EDR, interim review, and updates across the bank.
  • To manage strategic projects across EMEA involving the remediation of FCMO files, this role will include project plan design and socialisation, resourcing, setting and adhering to deadlines, MI reporting / governance structure design and chairing stakeholder meetings. This role may also be asked to manage or participate in other FCMO related projects, where they will be acting as a KYC subject matter expert.


  • The function of this role is to manage the Quality Assurance Team within the Financial Crime Middle Office. The role is ultimately responsible for the team's performance, ensuring quality control over end-to-end FCMO KYC activities in line with internal policies / procedures and regulatory expectations.
  • As part of the One FCMO initiative, the role will require close liaison with FCMO peers across EMEA, to share best practice and information on Projects, trends and changing regulations. This is to foster opinion and consensus on future procedure development. This role will drive change and represent FCMO in discussions with various divisions and the EMEA MLRO's seeking their agreement to any proposed changes.
  • The role will be required to flex the quality assurance sample size and priorities considering FCMO, CPD and FO priorities and feedback.
  • Summarise and interpret MI and feedback on quality of individual KYC analysts and checkers within the BAU functions, with recommendations for intervention and training where required.
  • The role will ensure that EMEA wide procedure documentation is fit for purpose and aligned with CPD policies
  • The quality assurance role is a value-add role to increase file quality. Overtime the quality assurance activities will require continuous refinement to meet quality targets and the shifting priorities of FCMO.
  • This role will partner and foster a close working relationship with all Front Office's teams, to assist with their KYC queries, providing help and guidance in relation to requirements and system use.
  • The role will provide input to the KYC improvements initiatives to achieve greater effectiveness, including both processes and systems.
  • The role is required to review 2nd line / 3rd line QA results and Audit recommendations, ensuring that issues or trends noted are acted upon and where necessary staff training is planned, and remedial actions completed.
  • The role will need to develop the management skills of their direct reports and develop a succession plan.
  • The role must ensure that new regulatory developments are incorporated to QA activities in a timely manner.
  • The role will manage any remediation work or projects that FCMO need to complete across the EMEA area, and will request the necessary resources to complete these tasks.

Facts / Scale

  • This role will monitor, review and be responsible for the day-to-day performance of the eight QA Officers, which could be located across the EMEA offices.
  • This role will also manage any strategic or remediation projects required within Operations, ensuring completion within the agreed deadlines and that the resulting files are at the expected quality level.
  • Where projects are assigned, the role will manage this end to end including all stakeholder briefings and engagement and securing the necessary resources for completion.
  • The stakeholders involved in Projects may include The Banks' senior management including at the CEO level, and Senior management and Compliance staff within Head Office where regulatory issues and concerns are noted.
  • The role must ensure that the QA team is fully trained, and that all staff have the appropriate experience to complete the Quality Assurance role in line with CPD standards, regulatory guidance, and all local policies.
  • This role will be required to complete the Snapshot performance reviews of the QA Officers. For those working outside of the Managers home office this will be in conjunction with their local manager.
  • This role will have regular contact with the EMEA FCMO teams for information sharing, procedure review and to monitor / resolve issues concerning KYC approach, and shared customers / data.
  • The role will have regular interaction with representatives of the Front Offices EMEA wide, having oversight of the KYC activities. It will involve an advisory role to help and educate RMs, and also to listen to, and act on, Front Office feedback.
  • The role will escalate to FCMO / Operations Administration Department management any serious specific KYC issues or systematic issues with recommended mitigation actions.
  • There will be daily interaction with the Financial Crime Group of CPD, especially the MLRO, to establish and maintain an optimum approach to quality assurance such as confirmation of procedures, reviewing sample size (incidents may drive changes to sample size by location or Front office team).
  • In an average month, the QA team will review approximately 200 client files (may fluctuate depending on sample size and number of issues found). The role will monitor team performance and ensure targets are met.

Accountabilities & Responsibilities

  • Ensure the team is working efficiently and meeting Quality Assurance targets.
  • Ensure assigned projects are well managed and meet all objectives set.
  • Motivate, train, and guide all staff within the team, ensuring that they obtain a full understanding of the systems used as part of their role and the policies and procedures to be followed.
  • Review issues identified by QA Officers, ensuring lessons are learned and communicated via study meetings, procedure reviews / guidance updates.
  • Provide training to the wider FCMO team on common themes and issues noted as part of the QA role.
  • Monitor remediation actions identified by the QA team and CPD.
  • Represent the FCMO as a subject matter expert at meetings with the Front Office teams, providing help and guidance in relation to KYC matters as requested.
  • Provide operational feedback and opinion on suggested changes to the Bank CDD Standards, liaising and with CPD, to achieve clarity on the requirements and agreement on procedural handling.
  • Proactively contribute to improved FCMO performance, by identifying weaknesses / inefficiency in systems, workflow, and processes, suggesting enhancements that quantify the efficiency gains, be that from a financial perspective or from a customer experience / security aspect.
  • Set and manage appropriate QA sampling levels
  • Provide MI to highlight Departmental performance, by identifying weaknesses / inefficiency in systems, workflow, and processes, suggesting enhancements and quantify the efficiency gains, be that from a financial perspective, or from a customer experience / security aspect.
  • To participate and or manage any ongoing projects as directed and required. This includes system development testing, implementation, and providing remote support to other EMEA FCMO team.

Knowledge, Skills, Experience & Qualifications

  • The role requires an excellent understanding of the regulatory framework associated with all aspects of Financial Crime and to keep abreast of the changes to this.
  • Previous supervisory / management experience within a CDD team in a financial institution is essential.
  • Externally recognised qualifications in relation to AML and customer due diligence are preferable (ICA / ACAMS)
  • The role requires excellent communication skills both written and verbal and the ability to communicate complex issues and regulatory requirements to all levels of the organisation.
  • Ability to collaborate and work within project teams, or lead project teams, supporting others to ensure the overall team objectives are achieved.
  • Previous Project Management experience is preferable
  • The role requires the ability to identify, monitor and escalate KYC issues and to make sound judgements re any findings, based on previous working experience, industry and regulatory guidance.