Senior AML Associate – Escalations Risk Manager and Policy Advisor
Interactive Brokers
London, United Kingdom
2d ago

Responsibilities

IBUK is seeking a Senior AML Associate to join our rapidly growing company. Interactive Brokers (U.K.) Ltd. ( IBUK ) is an online broker offering trading access for experienced traders to products traded on many markets and exchanges throughout the world.

IBUK is part of a global group of financial services companies based in the U.S. publicly traded under the symbol IBKR. This is a great opportunity for an experienced AML professional to join a dynamic and expanding Compliance department, at a Group which has invested significant resources in its AML programme over the past few years.

The successful candidate will join IBKR at a time when the Group is supporting the development of synergies and coordination across its new European operating entities.

IBKR is a stimulating environment characterised by a wide and varied global client base - from individuals to complex institutions - and a broad product offering.

The main responsibilities of the Senior AML Associate will be to :

  • Ensure that IBUK is in compliance with the AML rules and regulations, that company policies and procedures are being followed and that appropriate controls are being applied in a timely manner;
  • Manage the AML escalations received from other departments, including Sales and New Accounts, with a focus on adverse media and red flags concerning new account applications;
  • Act as European coordinator, working closely with AML and Compliance teams across four IB European operating entities;
  • Assist the IBUK Head of Financial Crime implement and maintain AML Policies and Procedures, and to provide a proactive approach to solving compliance issues including providing advice on complex structures that may fall outside of standard onboarding procedures.
  • The role will answer to the IBUK Head of Financial Crime and is based in our London office;
  • Act as a primary AML point of contact for different departments, review and assess escalations raised in relation to new account applications presenting adverse media, AML red flags, and other regulatory complexities.
  • Make risk decisions or escalate further with recommendations;
  • Manage responses to questions, issues and escalations on all aspects of the KYC programme;
  • Provide advice to New Accounts staff to address difficult applications, and independently make or recommend risk-based decisions;
  • Coordinate the AML / Compliance escalation workflow for all European entities, enabling different AML / Compliance departments to maintain an efficient review process.
  • Focal point to achieve a common approach in Europe for various risk typologies;
  • Maintain, update and continue to enhance the IBUK AML Policies and Procedures, whilst coordinating with other European offices to optimise consistency on a shared, global, automated platform;
  • Make recommendations on filing required or voluntary SARs, exiting or retaining relationships, and adjusting risk assessments or risk mitigation strategies;
  • Produce and maintain quality MI related to the firm’s customer base and the AML Programme;
  • Manage the initial and ongoing due diligence for intermediaries and maintain the AML relationships with correspondent banks and clearing firms, responding to their due diligence requests on IBKR;
  • Carry out improvement projects identify AML risks, prepare specifications, engage with internal stakeholders, and implement efficiencies and remediation efforts;
  • Monitor, and report to management on, the performance of the outsourced AML arrangements;
  • Provide training and mentoring to junior AML staff;
  • Carry out any other ad-hoc tasks or additional AML responsibilities at the request of the Head of Financial Crime.
  • Qualification & Skills

  • Bachelor’s degree in law is preferred, or demonstrable ability to interpret and apply complex regulations;
  • Good knowledge of open source intelligence gathering, payment systems, and money laundering red flags, particularly in brokerage, capital markets, or banking;
  • Good knowledge of POCA, JMLSG, EU Money Laundering Directives, Sanctions regulations, and the key FCA principles for businesses;
  • Strong analytical skills, able to manipulate data, produce MI, and write reports;
  • Excellent oral and written communication skills;
  • Practical experience of applying a risk-based approach to initial and periodic due diligence;
  • Ability to work flexible hours;
  • Must have ability to work and thrive in a fast-paced medium-size office environment.
  • Company Overview

    Interactive Brokers ("IBKR"), a subsidiary of publicly-traded Interactive Brokers Group, Inc., based in Greenwich, Connecticut (NASDAQ : IBKR) is a low-cost provider of trade execution and clearing services for active traders, institutional investors, financial advisors and introducing brokers.

    IBKR’s premier technology provides electronic access to stocks, options, futures, forex, bonds, and funds worldwide from a single IBKR Integrated Investment account.

    IBKR is one of the largest online brokers by trade volume and is consistently ranked at the top of its field.

    Our employees are part of a dynamic, multinational, fast-paced, results-oriented team working to provide our customers with state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and sophisticated risk management tools.

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