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Financial Crime Manager

Job Introduction

At 118 118 Money, we help people every day. Our innovative personal loans and revolutionary credit cards have been game changers in the UK financial services space, giving folks access to the affordable credit that we believe they deserve.

Based in Cardiff, this is an exciting and challenging position for a highly motivated, dynamic and energetic individual. You must enjoy working in a very fast-paced, highly flexible, dynamic environment

The ideal candidate will ensure all matters in respect of Financial Crime and CIFAS Fraud reporting for the loans business are maintained in a manner consistent with legislation and which is reflected in Company Policy and Procedures. They will ensure all new business opportunities are maximised through negotiation and interaction with customers, whilst ensuring loss levels are within risk appetite. This role will require a high level of influence on their colleagues and play a large part in diversifying the capability of the Financial Crime team.

This role will also handle any escalated cases for review, both for Loans and Cards fraud or dispute, based on business needs or in any situation that entails immediate case handling.

In addition, this candidate will undertake the investigations arising from Suspicious Activity Reports across the whole business and will liaise with the Money Laundering Reporting Officer to decide whether or not to report the cases to the National Crime Agency. This candidate will also work with the Compliance Monitoring Team to allow them to learn and understand the firm’s Anti-Money Laundering responsibilities and to build a working knowledge of the PEPs and sanctions checking we need to undertake.

Role Responsibility

  • Investigate potential fraudulent activity by analysing all available information, including bureau data, call recordings, contact details, bank account information and identity documents, to reach a decision on whether to lend.
  • Complete the review and assessment of each referred application within agreed SLAs
  • File relevant information on the CIFAS database in accordance with the CIFAS rules.
  • Ensure delivery of first class service and productivity supporting the Operations Manager with effective work allocation and efficient work management.
  • Act as a source of Financial Crime knowledge and participate in the preparation for audits/reviews.
  • You should be proactive, able to work on your own initiative, juggle competing demands and problem solve seeking first time resolution whilst effectively managing own workload.
  • Follow existing processes, whilst actively seeking out new ways of identifying fraud and vulnerability in our systems and implementing ways to mitigate these.
  • Ensuring that all potential victims of fraud are kept up to speed with investigations and are made aware of company conclusions ASAP.
  • Provide colleagues and customers with a professional and efficient service in an enthusiastic, professional and knowledgeable manner at all times.
  • Ability to constructively feedback development points to other business functions to drive customer satisfaction and resolution whilst adhering to regulatory and company guidelines.
  • Undertake regular staff 1-2-1 meetings to deliver feedback on performance in line with the QA monitoring.
  • Support the effective coaching, development and training of team members.
  • Set, monitor and mark the team’s annual bonus objectives.
  • Be the main escalation point for more complex cases which more junior staff members are unable to resolve.
  • Ensure all referred applications have relevant procedural checks as highlighted, both system and manual as necessary e.g. Credit Reference Bureau, CIFAS, employment confirmation etc. are utilized ensuring that all information and documentation is accurate.
  • Maintain an up-to-date knowledge of and ensure compliance with regulatory and legislative information related to Consumer Finance products and services (e.g. Money Laundering, Data Protection, Consumer Credit, Proceeds of Crime Act, Fraud Act etc.).
  • Communicate clearly in writing and verbally, including by phone, to customers, external agencies and senior management
  • Identify and investigate all suspicious activity, reporting and documenting to NCA and MLRO as appropriate, and in compliance with regulations and company procedures.
  • To investigate potential Sanctions and Politically Exposed Persons matches, liaising with the Compliance team in a timely manner.
  • Do trending analysis and reports, such as, but not limited to, queue volumes, performance trends, account audit reviews
  • Create and present proposals for Financial Crime Team’s Improvement based on in-depth analysis and review of data or reports
  • Submit and prepare requests related to the team's accesses and tools
  • Ensure end to end processes and/or SOPs are documented and kept up-to-date
  • Identify any process gap and present recommendation to immediate manager and TLs
  • Undertake any other reasonable tasks as requested by Management.

The Ideal Candidate

  • Previous exposure to and understanding of anti-financial crime systems & controls
  • Proven expertise of fraud prevention and financial crime investigation within a regulated consumer lending environment is required.
  • Proven ability to analyse data, recommending and implementing changes to enhance the customer experience.
  • Experience managing, mentoring or coaching colleagues
  • Demonstrates ownership and accountability for issues with a high attention to detail.
  • Strong communication, relationship building and stakeholder management skills.
  • Self-motivated, able to operate independently.
  • Dynamic, flexible and enthusiastic and a strong team player
  • Computer literacy including MS Office

 

Please be aware that should we pursue your application, all our Financial Services employees will be expected to complete background checks to assess suitability for employment, these include; a criminal record, identity, sanctions, adverse finance, fraud prevention and reference checks to comply with our regulatory requirements.

 

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