Financial Crime and Fraud Manager, Chetwood
Digitally native financial services
Job no longer available
Digitally native financial services
201-500 employees
Job no longer available
201-500 employees
Company mission
To challenge every aspect of how financial services firms operate today.
Role
Who you are
- Four years’ experience in Fraud & Financial crime-related Monitoring & Testing, ideally within Financial Services experience in working with SIRA , Cifas tools
- Detailed knowledge of the UK AML and combatting terrorist financing regime, including experience with Fraud, AML, and ABC policies and procedures
- Practical knowledge and experience of commonly deployed anti-money laundering systems (inc. PEPs and Sanctions screen tools)
- Able to learn from colleagues, develop unique ideas, be proactive, and improve the process, approach, or quality of work being produced
- Experience and understanding of banking, loans, Savings and Mortgages
- Experience working within a regulatory and control environment
- Experience working is the Second line of defence
- Have a good work ethic
What the job involves
- Financial Crime & Fraud Manager will play a pivotal role in fortifying our institution's defenses against money laundering, terrorist financing, fraud, and other financial crimes
- You will work closely with first line and senior leadership to implement robust policies, procedures, and controls that adhere to industry best practices and ensure our compliance with relevant laws and regulations
- Proactively engaging with First line key stakeholders to advise of systems, controls and risks pertaining to fraud (both internal and external)
- Owning the end-to-end oversight of the lifecycle of Fraud/AML transaction monitoring rules, including development, testing, optimisation and decommissioning of rules and strategic machine learning analyses
- Implement the delivery of the Fraud Framework across Chetwood Financial Limited in line with Policy and industry best practice requirements
- Dealing with escalations from the First line and providing practical advice on required actions
- Conducting periodic reviews of Fraud/ AML controls to review the effectiveness and coverage of the known risks and emerging threats affecting Chetwood Financial Limited
- Deliver the Monitoring and Testing plan on time by undertaking detailed thematic reviews and regular control testing in line with the plan and any ad-hoc requests by the MLRO
- Conduct fraud risk reviews with operational areas to identify weaknesses and ensure current fraud detection and prevention measures are robust and fit for purpose
- Complete an in-depth review of the controls implemented for Commercial mortgages, loans and Savings to ensure regulatory compliance
- Provide MI reports and information to senior management on internal fraud trends, risks and issues
- Tracking actions to completion, escalating any high-risk findings and overdue actions to the MLRO and within relevant governance
- Providing input to the design and execution of fraud monitoring and testing programs for Mortgages
- Review third-party vendors to ensure controls are in line with Chetwood's expectation
- Manage complex queries or issues arising from suspicious activity escalations from first-line ops teams. Ensure that suspicious activity reports are escalated to the MLRO and support the MLRO in maintaining a process for submission to the NCA when needed
Salary benchmarks
Our take
Consumer frustration with traditional banking is rising steadily. Chetwood is one of a crop of digital-led financial services companies looking to take a more customer-centric approach to banking.
Chetwood markets itself as a digitally native bank which creates targeted products that are designed to better serve individual customers' needs. The company was founded by a former HSBC and Bank of America executive, which has helped Chetwood to identify crucially underserved sectors of the banking market. In 2022, Chetwood acquired long-term partner Yobota, which has allowed it to expand its BaaS offerings considerably.
Digital banking is a fast-growing and incredibly competitive market, and Chetwood will have to compete with both legacy banks (which are becoming increasingly digitised) and new disruptors, such as Zopa and Tymit. However, the company has displayed impressive agility and ambition. For example, Chetwood released its challenger credit card Wave in 2022. With its flexible approach to late payments, Wave is likely to attract a considerable user base in the coming years.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (2 rounds)
Aug 2020
$13.2m
GROWTH EQUITY VC
Mar 2018
$66m
GROWTH EQUITY VC
Total funding: $79.2m
Company benefits
- Life insurance
- Pension
- Private medical insurance (incl. dental & vision)
- Free breakfast & drinks
- Monthly social events
Company HQ
Wrexham, UK
Leadership
Andy Mielczarek
(CEO)Previously worked as the Head of Customer Service at HSBC, and was CFO of Marks and Spencer Financial Services. Also worked as First VP of Commercial Finance for Bank of America.
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