October 18, 2024

abrdn

FULL TIME

Head of KYC Operations/ 1st Line of Defence Anti-Financial Crime Execution and Oversight Lead

Job Description

At abrdn, our purpose is to enable our clients to be better investors.

Clients worldwide trust us to find future-fit investment opportunities to deliver the outcomes they want. Our technology and insight help empower them to make better decisions, while the powerful partnerships we build help to enhance the expertise that we offer. And by enabling clients to invest responsibly, it helps us to build a better world.

About the department

Putting our clients at the centre of everything we do applies to all our practices. We need to ensure that we have a smooth client onboarding, as well as a robust on-going governance, particularly when it comes to client due diligence and management of risk.

With a focus on strengthening oversight and control of these activities, as well as transforming our end-to-end approach for Clients, a Client Risk and Governance team has been created, reporting to the Chief Client Officer within Client Group.

About the role

The Head of KYC Operations will get the opportunity to be the Anti- Financial Crime (AFC) subject matter expert within abdrn’s Investments Business, you will get to run the day-to-day operations and management of its global KYC Operations, Screening and Transaction Monitoring teams, including AFC systems, controls, processes, work flow management and reporting.

This role will help to protect the reputation and integrity of the organisation through the execution, implementation, embedding and maintenance of robust and repeatable AFC processes, systems and controls within the Investments Business. Experience within asset management or asset servicing previously will be required in this role.

Key Responsibilities

Leadership

Manage (either directly or via dotted reporting lines) the global KYC Operations and Screening & Transaction Monitoring teams within the 1st line of defence, with teams based in UK, Americas, APAC and Luxembourg reporting into this role.
Responsibility for capacity planning models, resourcing, workload/case allocation, prioritisation and team development tasks.

Technical AML Knowledge:

Support the Head of Client AML and Governance in the execution of its AFC oversight and execution related activities. Ensuring that business practices and activities meet the minimum requirements set out in the abrdn AFC policies and standards and are appropriately applied via 1st line of defence Business specific procedures.
Overall responsibility for keeping the 1st line of defence procedures updated and relevant, including updating as the abrdn business model and/or standards evolve or change to meet local law and regulations;
Review and provide Business specific feedback on draft AFC policy and standards revisions, including leading Business specific gap and impact analysis of revisions to Group AFC Polices and Standards, and to advise, inform and consult with relevant Investment Business senior management on the impact of such revisions;

Operations:

Oversee and manage the Businesses’ successful completion of CDD/EDD/ODD/KYA (asset DD) activities for clients, assets and related parties (as appropriate), including initial and ongoing due diligence activities, escalations, client and product restrictions, exits and record retention;

Control Enhancement and Technology:

Identify, implement and assist with the development as necessary, of appropriate technology solutions to assist in the effective and efficient implementation of AFC Policies and Standards;

Governance and Reporting:

Collate, produce and review Investment Business specific regular or ad-hoc AFC reports and related information for relevant committees, boards, audit reviews and regulatory returns as appropriate;

Strategy:

Provide 1st line of defence Client Group input to internal stakeholders regarding market entry considerations, Self-Assessment Questionnaires, business impact assessments as required.

About the candidate requirements

An anti-financial crime professional with proven experience gained within the asset management or asset servicing sector; strong understanding and experience of the Investment activities within a buyside environment.
Extensive experience of conducting implementing and embedding AFC policies and standards within a 1st line of defence business environment including the implementation of technology, systems and tools.
Experience of managing multiple & complex projects and people in a complex operating environment across multiple jurisdictions, including refresh and remediation projects.
Extensive management experience, including the development and leadership of remote teams preferable.
Experience of financial crime regulatory requirements and knowledge of the Joint Money Laundering Steering Group (JMLSG), the Money Laundering Regulations (MLR) and EU Regulations.

We’re committed to providing an inclusive workplace where all forms of difference are valued and which is free from any form of unfair or unlawful treatment. We define diversity in its broadest sense – this includes but is not limited to our diversity of educational and professional backgrounds, experience, cognitive and neurodiversity, age, gender, gender identity, sexual orientation, disability, religion or belief and ethnicity and geographical provenance. We support a culture that values meritocracy, fairness and transparency and welcomes enquiries from everyone.

If you need assistance or an adjustment due to a disability please let us know as part of your application and we will assist.