Head of AML Transaction Monitoring

CFS-Zipp Limited, a leading E-Money Institution authorised by the Financial Conduct Authority, is seeking a dynamic and experienced Head of AML Transaction Monitoring to join our team. As the Head of AML Transaction Monitoring, you will play a pivotal role in safeguarding our business from financial crime risks, ensuring compliance with AML regulations, and maintaining the integrity of our electronic money service solutions.

Position Description

General Information:

Position Title

Head of AML Transaction Monitoring

Group or Team

Transaction Monitoring/Compliance



Primary Office Location

London, UK

Position Summary:

As the Head of AML Transaction Monitoring at CFS-Zipp Limited, the incumbent’s primary responsibility is to oversee the ongoing monitoring of financial transactions to identify and prevent money laundering, terrorist financing, and other illicit activities. This critical role plays a pivotal part in upholding the integrity and reputation of our company as a fully licensed E-Money Institution authorised by the Financial Conduct Authority.

Working closely with a team of talented analysts and team leaders, the incumbent will lead, mentor, and guide them to ensure they perform their duties effectively and efficiently. The incumbent’s expertise in AML and financial crime risks will be instrumental in developing and implementing robust transaction monitoring systems that align with the latest industry standards and regulatory requirements.

As the Head of AML Transaction Monitoring, the incumbent will collaborate with cross-functional teams, including Product, IT, and Compliance, to continually enhance and optimise the transaction monitoring rules and parameters. This data-driven approach will help refine the monitoring systems, reducing false positives and increasing the identification of suspicious activities, thereby enhancing the overall effectiveness of our financial crime prevention efforts.

Additionally, the incumbent will be responsible for creating and executing the strategy for AML Transaction Monitoring, which involves analysing trends, typologies, and patterns of suspicious activities to ensure that the team stays ahead of evolving risks. Regular reporting to senior executives, including the MLRO or Chief Risk Officer, will be crucial to keep them informed about the team’s progress, potential risks, and mitigation measures.

Key Attributes:

  1. Strategy and Leadership
  • Develop and execute the strategy for AML Transaction Monitoring, aligning it with the company’s overall risk management and compliance framework.
  • Lead and mentor a team of talented AML analysts and team leaders ensuring their continuous development and providing ongoing training.
  • Collaborate with the MLRO and first and second line of defence teams to meet regulatory requirements and internal policies.
  1. Transaction Monitoring System Enhancement
  • Work closely with the IT, Product and Compliance teams to improve and evolve the transaction monitoring systems continually.
  • Refine transaction monitoring rules to reduce false positives and enhance detection of suspicious activity.
  • Ensure the implementation of best-in-class ongoing monitoring systems.
  1. Risk Management and Compliance:
  • Conduct ongoing analysis to identify trends, themes, and typologies related to financial crime risks.
  • Manage the team’s efforts to mitigate financial crime risks and act as the first line of defence.
  • Evaluate and improve processes to ensure adherence to rigorous financial crime standards while enhancing efficiency.
  1. Reporting and Training:
  • Be the subject matter expert, providing ongoing training and knowledge-sharing within the AML Transaction Monitoring team.
  • Oversee individual and team KPIs and OKRs, reporting progress to senior management and the risk committee.
  • Prepare comprehensive management information reports for the Board and senior stakeholders.
  1. Collaboration and Communication:
  • Collaborate closely with a dedicated product team to align ongoing monitoring efforts with the company’s business goals.
  • Engage with various internal stakeholders to ensure that AML Transaction Monitoring aligns with business needs and requirements.
  • Act as a point of contact for queries and escalations related to AML Transaction Monitoring.

Relationships & Interactions:

●      Directly reporting to the Money Laundering Reporting Officer
●      Internal interactions:
              o   Compliance Department, IT Department, Operations                           Department, Banking Department
              o   Team leaders
●      External interactions:
              o   Technology providers
              o   Agents
              o   Banks and other Fintechs
              o   Prospects, Customers and Introducers

Qualifications & Experience:

  • At least 5 years of experience Previous experience in Financial Services
  • Demonstrable knowledge of AML (Anti-Money Laundering) policies, procedures, and practices, including those related to Sanctions, Anti-bribery, and Corruption.
  • Experience in applying a risk-based approach to address financial crime risks effectively.
  • Sound understanding of financial crime risks and controls, with the ability to identify and assess potential risks within transactional activities.
  • Strong analytical skills with the ability to analyse complex financial transactions and identify potential risks or anomalies.
  • Thorough knowledge of the flow of funds from merchants through acquirers, Payment Service Providers (PSPs), and onward distribution of funds.
  • Ability to clearly articulate complex payment flows and financial processes to senior members of the company, facilitating their understanding of financial crime risks.
  • Proven track record in finding innovative solutions to new problems, especially concerning financial crime prevention.
  • Adept at applying conceptual knowledge to establish new operating procedures that strengthen financial crime prevention measures.
  • Ability to apply commercial acumen when assessing business opportunities, understanding the intersection of financial crime risks and business objectives.

Core Capabilities:

  • Demonstrate systems thinking, considering the performance of the entire system.
  • Possess strong analytical, reasoning and problem-solving skills.
  • Ability to correctly interpret requirements presented verbally.
  • Excellent communication skills and a collaborative work style.
  • Ability to multitask, prioritise, and manage time effectively.
  • Show awareness of own strengths and areas for growth and develop and apply new skills.
  • Maintain own motivation when tasks become difficult.

Additional Information Pertaining to this Position:

  • Incumbent will be required to sign an employment agreement.
  • Incumbent will respect and comply with company and departmental policy and procedures.
  • Must have a Right to Work in the UK.
  • Willing to undertake Police and Background checks.

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