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Sanctions Officer - 12 month FTC
Location: home/ hybrid- one day per week in London office
About the team
As part of the broader Central Compliance function, the Central Sanctions team delivers screening services and sanctions advice to the Howden UK and Global Specialty Insurance division, UK Reinsurance division and the UK Retail division.
About the function
The UK Broking Central Compliance function comprises three teams; the Regulatory Interaction and Change team, the Monitoring team and the Sanctions team.
Working alongside the divisional Compliance teams in UK Broking, the Central Compliance function provides services across the Specialty, UK Retail and UK Reinsurance divisions of Howden.
Role purpose
Supports the Central Sanctions team to maintain a consistent sanctions and screening framework that supports and enables Howden UK Broking to meet applicable sanctions and screening requirements.
- Assess the risks of Howden entities undertaking activity or transactions with individuals or parties who are subject to sanctions or where screening indicates that they pose a financial crime, money laundering, bribery and corruption, or reputational risk.
- The role is primarily focussed on reviewing and approving potential sanctions and financial crime matches, handling escalations and providing appropriate advice to the business.
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Key Responsibilities
- Review and approval of financial crime and sanctions matters escalated to the Central Sanctions team.
- Manage own caseload of escalation, potential matches and referrals.
- Support with the delivery of the training and understanding programme in respect of sanctions and screening related requirements across all broking divisions in Howden UK.
- Screen books of clients and counterparties from acquisitions for sanctions and financial crime risks.
- Support outsourced services providers such as WNS to enhance delivery of service to the business.
- Supporting with the on-going assessment of screening system capability, suitability and output.
- Monitoring of adherence to screening expectations by the business.
- Monitoring and liaison with business where potential sanctions matches are not being cleared in a timely manner.
- Assisting with the collation and production of Management Information in respect of sanctions and screening.
Required Skills & Experience
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Required Experience
- Experience of managing compliance with the UK financial sanctions regime within a second line compliance function in a UK-based General Insurance broker.
- Experience of using ComplyAdvantage desirable.
- Experience with providing real time support and working in a fast-paced office environment.
Regulatory Knowledge
- Good knowledge of OFSI, OFAC, UN, EU and FCA requirements in respect of sanctions.
- General awareness of FCA requirements relevant to GI brokers.
- Broad knowledge and understanding of insurance, principles, products and services.
Technical & Analytical
- Strong attention to detail
- Good MS Word, Excel and PowerPoint literacy
Behavioural Competencies
- Stakeholder management and influencing skills in securing buy-in to recommendations and business benefits.
- Sound judgement and decision-making
- Strong written and verbal communication skills
- Good organisational skills
- Collaborate and communicate within the team to deliver the overall service
- Able to work independently
Qualifications
- Highly desirable:
- CII and / or London Market qualifications
- ICA Diploma in Managing Sanctions Risk or similar
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