Financial Crime Analyst

About the job Please note we cannot provide visa support or sponsorship for this role. Applicants must have the legal right to work in the UK without requiring sponsorship now or in the future. First Rate is the UK’s largest supplier of foreign currency and a top 5 currency wholesaler globally. We are one of the foremost foreign exchange (FX) experts in the industry, with a multi-billion pound wholesale business and over 20 years’ trusted experience providing tailor-made travel money solutions for companies in the finance, travel and retail sectors. We have a vacancy for a Financial Crime Analyst to join us on a three month temporary basis with the possibility to go permanent.

The Role As 1st line of defence for Financial Crime, the primary role of the Financial Crime Analyst is to be responsible for the prevention, detection, investigation, and analysis of fraudulent and suspicious activities to ensure that the risks of fraud and money laundering are minimised and prevented where possible. You will be responsible for performing financial crime analysis on instances of suspicious, attempted, or successful activity across all orders, transactions and referred cases, identifying trends/patterns and recommending enhancements to processes to ensure the anti-money laundering and fraud prevention frameworks are continuously adapted and enhanced. Analyse/monitor transactions for unusual or suspicious activities that may indicate money laundering or other illicit activities (including fraud). Conducting detailed investigations into potentially suspicious transactions or customer behaviour (such as fraud). Reviewing Suspicious Activity Reports (SARs) received for referral to second line (as needed). Performing Know Your Customer (KYC) due diligence on new and existing clients. Record, escalate and provide written reports all financial crime typologies such as AML or fraud in adherence with any business and mandatory regulatory requirements. Identify trends/patterns of financial crime activity (including fraud) and recommend improvements to processes and overall framework to ensure procedures are continuously adapted and improved. Review and investigate suspicious/suspected fraud transactions across all products and take actions such as handling outbound/inbound customer calls to support the investigation. Conduct all necessary analysis and take appropriate action to mitigate the risk of money laundering or fraud, whilst ensuring genuine customers are not adversely affected. Record, escalate and report suspicious activity in line with departmental, business, and mandatory regulatory requirements. Produce incident and management information reports on financial crime activities as required or directed by management. Analyse and report on new or emerging financial crime trends. Recommend enhancements to the AML and fraud detection framework, including the effectiveness of the rules engine employed, ensuring optimal false positive review rates and KPIs. Identify, log and report system defects, thereby continuously contribute to improving fraud detection processes.

The Candidate The ideal candidate will have: Financial crime (AML and Fraud) experience gained in an online, ecommerce, banking or merchant services business. Highly analytical and numerate, and competent in analysing and manipulating data. Confident in preparation and presentation of Management Information (MI). Proven proficiency in the use of Microsoft Excel that include but not limited to, data entry and formatting, usage of formulas and functions (e.g. VLOOKUP), referencing multiple files to gather data, creation of pivots. Ideally some knowledge and experience with Microsoft Access, but not essential. 5 GCSEs including English and Mathematics. Certifications like ICA (International Compliance Association) or CAMS (Certified Anti-Money Laundering Specialist) are highly valued. We offer a successful, dynamic and supportive environment where people with talent and dedication can learn, grow and thrive at every level.

Diversity Statement First Rate is committed to eliminating discrimination and encouraging diversity in its workforce. We aim to create a culture that respects and values each other’s differences, that promotes dignity, equity and diversity and that encourages individuals to develop and maximise their true potential.