Job Title: Transaction Monitoring Detection SME
Location: London
Length: 6 months
PAYE only
Overall purpose of the role:
A well-known bank is seeking an experienced Transaction Monitoring (TM) Detection Subject Matter Expert (SME) to join their team, a position being recruited for by Randstad Sourceright.
The core focus of this role is to provide TM expertise, specifically by reviewing and designing the operational output of transaction monitoring processes. The SME will support the existing Business As Usual (BAU) team by ensuring a clear understanding of requirements, performing TM Risk Assessments, and designing the TM framework necessary for this expansion.
The ideal candidate for the Transaction Monitoring Detection SME role must demonstrate a substantial and proven background, supported by extensive experience, and possess a nuanced and solid understanding across several key domains essential to effective financial crime prevention. Core Expertise in Financial Crime and Regulatory Frameworks
Key Requirements/Accountabilities:
Three Lines of Defense (3LOD): A strong grasp of the 3LOD model is essential, covering its distinct accountabilities, collaborative dependencies, and the governance framework that supports financial crime prevention and compliance.
AML/CTF Knowledge: In-depth, practical knowledge of global and local Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations (e.g., EU Directives, FATF Recommendations, FinCEN rulings). This includes the ability to translate these mandates into effective operational controls and Transaction Monitoring (TM) policies.
Stakeholder Identification and Engagement: The ideal candidate must possess strong stakeholder management skills, as effective engagement with a variety of internal and external parties is essential for Transaction Monitoring (TM) and financial crime work. Key stakeholders include Risk Owners, Compliance Officers, Internal Audit, Technology and Data Science teams, and external regulators or law enforcement.
Crucially, the successful individual must be adept at balancing competing priorities and communicating complex TM requirements clearly to stakeholders who are not specialists in the field.
The SME must possess a clear understanding of the TM function's organisational positioning and strategic importance:
Placement within the 1st Line of Defense (1LOD): A clear understanding of why the TM team often sits within the 1LOD (the business side) and its primary responsibility for executing day-to-day controls and managing the immediate risk environment.
Critical Role in Supporting Risk Owners: The TM team is a vital operational partner to Risk Owners. The candidate must understand how the team's output (alert generation, investigation findings, reporting) directly supports Risk Owners in assessing, mitigating, and reporting on their assigned financial crime risks. This includes contributing to risk assessments and control design.
Desirable
Experience in similar compliance areas for other business units will also be considered valuable.