FEC Intelligence & Investigations Risk Analyst Intern

FEC Intelligence & Investigations Risk Analyst Intern

Role & work environment

Financial Crime Compliance (FCC) Governance & Controls Belgium is the second line of defence function supporting ING Belgium, its underlying entities and the Anti-Money Laundering (AML) Compliance Manager in managing the FCC risks.

The Governance and Controls function includes oversight of 1st line of defence AML related processes & sourced activities, the monitoring of customers’ activities (aka Transaction Monitoring) as well as the investigation of atypical & complex cases regardless of the source of identification (Adverse Media Screening, Transaction Monitoring, Name Screening, …) and the handling of special requests (Police, Prosecutor, FSMA, FIU, ...).

The mission of Governance and Control team aims to identify and report on emerging threats and risks stemming from known and evolving forms of Financial Economic Crime (FEC), such as money-laundering, terrorist financing, corruption, and transnational and organised crime.

The team is working together based on knowledge and expertise, as well as the skill set needed to best perform the job.

You report hierarchically to the Head of the FEC Intelligence & Investigations, who reports to the Head of Financial Crime Compliance, being the Anti-Money Laundering Compliance Manager of ING Belgium.

Key responsibilities

The role of the FEC Intelligence & Investigations Risk Analyst is critical for the Bank’s defence against money laundering, terrorist financing and fraud. As a junior expert with a strong focus on investigation, you take part in the execution and further development of the anti-money laundering strategy of the Bank by reviewing client’s profile and transactions, reporting unusual transactions, analysing trends and providing input on emerging risk or risk typologies to strengthen the existing risk control framework.

You will be responsible for the following (non-exhaustive) overview of activities:

• Review Financial Crime Compliance alerts escalated by 1st line of defence or other compliance teams, which includes Transactional Monitoring or any other Unusual Activity Reports (atypical cases) or requests for analysis received, in line with prescribed procedures and determines whether transactions occurring are valid Anti-Money Laundering (ML), Terrorist Financing (TF) or Sanctions Evasion risks by
  • Evaluating transactions and customer relationships for ML/TF/Sanctions activities, identifying red flag issues & potential suspicious activities and performing in depth-investigation within the FCC framework when needed;
  • Effectively communicating with business lines and/or Safe Business Officers to obtain additional information and documentation as needed;
  • Preparing suspicious transaction report & suspicious activity report (SAR) filing;
  • Maintaining accurate and concise records of all investigations undertaken including details on the rationale for any decisions made.
• Ensure adequate follow up by 1st line of defence of alerts / cases investigated by FEC Intelligence & Investigations function;
• Support trends analysis, investigation of complex / special cases (FSMA/NBB requests; request for information from FIU/Police/Prosecutor…);
• Support investigation of alerts escalated to 2nd LOD in the framework of lookback exercise;
• Provide input to the creation and maintenance of the procedures and WPI of the team and sourced FCC activities;
• Provide advice and support to the Bank’s business units on a case by case basis, when needed;
• In close collaboration with colleagues of other compliance teams, promote/enhance the knowledge and awareness with regards to FCC within the organisation;
• Participate in projects, workgroups (generally impacting the team’s activities) by coordinating, providing input, defending his/ her position, challenging the discussions and communicating the output to the members of the team;
• Identify key areas for improvement and provide support and guidance to implement good practice;
• Drive the implementation of automated process, robotics or data analytics techniques in order to maintain the efficiency of the FCC compliance related processes and tools;
• Support the Head of FEC Intelligence & Investigations in providing data and comments required for the drafting of compliance risk management reporting in all its forms;
• Give on the job training to colleagues;
• Any other associated duties required from time to time to meet the team’s mission and targets.

Key Competences

A colleague with atalent for taking it on and making it happen,enthusiasm forhelping others to be successfuland a knack for data analysis and critical thinking. In other words, you strive to bring fresh ideas to life and embrace challenges in a fast changing and complex environment. You are a naturally collaborative person who listens and invests in others to achieve common goals. You love to challenge the status quo and are eager to propose creative solutions to problems.

As a FEC Intelligence & Investigations Risk Analyst you will also need:

• A Bachelor degree;
• Minimum a few years’ work experience, and at least 1 years in an investigation role in an FCC relevant environment;
• Basic to good knowledge and/or a first expertise in the AML risk area is a plus;
• Strong analytical skills, interest for data (analysis) and the way to process them, as well as a keen eye for detail;
• Capacity to understand the main points of risk for the Bank specifically in relation to customers and transactions and the overall risk tolerance of the Bank;
• Ability to recognize atypical transactions and patterns, investigate risk-based any unusual activity and to prioritize the in-depth reviews;
• Good and effective communication skills – fluent in written and spoken English; French and/or Dutch are beneficial;
• Advanced knowledge of Excel, Powerpoint, knowledge of other software applications is a plus;
• Being able to quickly integrate new concepts, procedures, modifications in the organisation or methodologies;
• Good skill set in the areas of personal effectiveness (i.e. autonomy, team spirit, courage and self-confidence, problem solving & result oriented by delivering as promised within tight deadlines, “hands-on”, good written and oral communication, capable to work in changing circumstances, customer focus and investigative & learning ability).

Reference function:Compliance Risk Analyst