Description:
The Life Financial Crime Advisory Manager is a management level role with day-to-day responsibility for executing activities to enable implementation of the group financial crime risk management framework within the UK Life business.
Financial crime responsibilities:
- Provide review and challenge of the consolidated Life EWRA and track progress against actions arising from the EWRA.
- Execute independent oversight over Life Client, IFA, and Other Third Party risk decisioning.
- Provide review and challenge of Life 1LoD Risk and Controls Self Assessment actions.
- Track and analyse the exemptions and breaches, waivers and dispensations to Group Financial Crime Standards pertaining to Life.
- Request local UK Life 2LOD local exemptions for , waivers and dispensations from Group Financial Crime Policies and Standards, develop mitigation plans, and maintain records.
- Manage escalations for local 2LoD from UK Life 1LoD for exemptions, waivers and dispensations for Group Financial Crime Policies and Standards.
- Produce UK Life MLRO reports and other Senior Management reporting for UK 2LoD in line with Group Financial Crime Governance and Management Information Framework.
- Support risk decisioning in Life as per M&G PLC's Financial Crime Risk Appetite and Risk Decisioning Matrix as UK 2LoD.
- Disseminate Group financial crime training to the Life business
- Track completion of financial crime mandatory and role-specific training for the local UK Life business.
- Prepare REP-CRIM and other regulatory reports for applicable Life legal entities in the UK.
- Provide advice and guidance to Life 1LoD teams on Group Financial Crime Policies and Standards and relevant UK regulations.
- Provide advice and guidance regarding the application processes for the registration of Life entities as Annex I financial institutions.
Additional responsibilities:
- Oversee adoption of the Group issue management framework for financial crime and the Governance, Risk, and Compliance (“GRC”) tool (MetricStream) and review and challenge the progress against actions on MetricStream.
- Implement actions for UK 2LoD arising from Assurance / Audit Findings relating to UK Life businesses.
- Other tasks and activities within the scope of your role or team as required from time to time.
Skill requirements:
- Established experience within financial crime and being able to demonstrate deep understanding of the financial crime risks inherent in the insurance sector. (Essential)
- Strong knowledge of UK financial crime laws and regulations, including AML, Sanctions, ABC and fraud prevention, preferably including in the context of above-mentioned sector. (Essential)
- Excellent communication skills, with the ability to coordinate with senior stakeholders and communicate and explain risk decisions.