Financial Crime Risk (“FCR”) Director, First Line of Defence

Description

You will embed Financial Crime risk management within the PPUK first line of defence and ensure compliance with all applicable legal, regulatory, and Policy / Procedural obligations including UK Money Laundering Regulations, Sanctions compliance, Fraud and FCA Consumer Duty requirements.

As a senior member of PPUK, your experience, passion for addressing financial crime for the individual customers and at scale as well as playing our part for the wider payments industry will be key in meeting the needs of the business. You will work with other lines of defence FCR functions and wider Group Financial Crime (GFC) departments and leaders.

In your role, you will work very closely with the PPUK UK Money Laundering Officer in the second line of defence as well as the Global Financial Crime (GFC) organisation.

• Strategic Oversight of the Operational Financial Crime Framework:
  Lead the implementation and continuous improvement of the UK Financial Crime Programme, ensuring alignment with applicable policies and procedures, and adherence to UK legal and regulatory requirements.

• Lead the design and execution of the UK first line of defence Fraud Risk Management strategy: across the customer lifecycle, including the prevention and detection of Authorised Push Payment (APP) fraud, account takeover and internal threats, leveraging data driven controls, analytics and cross functional collaboration to protect the PPUK business and customers.

• Ongoing collaboration with Pay Pal Product, GFC and wider UK and Group stakeholder teams to manage financial crime risk and change management for PPUK needs.

• Attending financial crime and other relevant risk committees, forums and PPUK Board where appropriate to report on key risks, trends and any remediation efforts.

• Attend relevant industry forums to ensure PPUK both learns from and has an industry voice in relation to financial crime, with a particular focus on Fraud.

• Develop Financial Crime Procedures from policy and requirements defined by the MLRO (2
  
  LOD) and ensure that these are implemented effectively including Financial Intelligence Unit (FIU), Transaction Monitoring (TM), Payments etc.

Own and manage day-to-day PPUK Financial Crime Service Level Agreements, acting as the PPUK Financial Crime “UK Entity Service Owner (ESO)” which includes:

• Responsibility for FLOD monitoring and assurance activities to evaluate the effectiveness of financial crime controls and response to emerging threats, reducing exposure to financial crime.

• Monitor and manage Service Level agreements (SLAs) with outsourced group entities to ensure adherence to agreed performance and risk management standards.

• Regularly assess how FLOD financial crime controls impact customer outcomes, identifying and addressing gaps in customer fairness, transparency, and support.

• Ensure the collection of and use of FLOD MI to monitor control performance and elevate issues via PPUK governance committees as appropriate.

• Partnering with local, regional and global teams to conduct detailed analysis of system configurations for transaction monitoring and filtering.

• Provide input on investigative procedures and processes, including making recommendations as to specific outcomes including refunds to customers.

• Help to refine investigative decision-making criteria that optimize for both effectiveness and efficiency.

• Root cause analysis for financial crime incidents or control failures and oversee the implementation of corrective actions, including improvements to outsourced processes.

• Develop strategies to execute against UK Policy and Procedure requirements.

• Ensures relevant training is given to UK and Group operational teams to reinforce culture of compliance.

• Conducts FLOD Financial Crime risk assessments for new products and advise on control requirements.

• 10+ years of professional and leadership experience, at least 7 of which are in Fraud or the broader Financial Crime area with UK the financial services industry.
• Exceptional written and oral communication skills with prior experience delivering or presenting to regulators/external stakeholders.
• Proven ability to execute in a…