Financial Crime Compliance Monitoring Analyst

Financial Crime Compliance Monitoring Analyst | London

Monex is a leading global financial solutions provider, offering a complete set of tools to support business growth and strategic financial operations.

We specialise in FX risk management and international payments, helping corporate and institutional clients design tailored FX solutions to navigate currency volatility with confidence. Our team of FX specialists implement well-considered currency strategies, offering dedicated support to help clients manage their payment needs – whether for goods, services, or direct investments.

In 2023, Monex facilitated $309 billion in FX turnover, managed $10.7 billion in assets, and processed 8.5 million transactions. With offices across North America (Canada, the US, and Mexico), Asia (Singapore), and Europe (the UK, Spain, and the Netherlands), we serve over 66,000 clients worldwide.

By combining global reach with deep local market expertise, Monex enhances businesses with a suite of financial solutions and FX market analysis to help optimise efficiency, mitigate currency risk, and protect margins in an increasingly complex financial landscape.  Our corporate client experience is further enhanced by our dedicated sector expertise across a range of industries

Department Overview

The Compliance Department is responsible for ensuring the firm operates in compliance with its regulatory obligations and has systems and controls for the prevention of Financial Crime.  Accordingly, the department is split into these three functions.  Firstly, Regulatory Compliance provides relevant advice to the business and undertakes arms-length monitoring, acting in the capacity of a second line of defence unit. Secondly, the Financial Crime team undertakes the due diligence process for all client on-boarding and screening, monitors payments, and carries out periodic screening and KYC reviews and Thirdly, the Senior Legal Advisor who provides legal leadership across the business by providing proactive, in depth, business focussed advice and analysing legal risk. The Department is currently transitioning to a model whereby the newly instituted ‘Customer Success Team’ will carry out the reviews on all low and medium risk cases, thus focusing the Financial Crime team on only those reviews identified as being of higher risk.  

The Department seeks to educate the wider business about legal, regulatory and financial crime risks and requirements.  The Department recognises the firm has grown rapidly and therefore system and controls by definition require to be developed concurrently with the business.  While tactical solutions are deployed, the goal of the Department is to develop and implement scalable solutions that are not dependent on manual intervention. 

Day-to-day tasks are derived from risk assessments with more robust processes and procedures built around the highest risk activities.  Documenting procedures is key to ensure individuals are not exposed to subjective decision making.  Financial crime prevention systems and controls must reflect the focus and challenge of the authorities and the high number of anti-money laundering and counter terrorist financing external audits that the business faces. 

While the Department seeks to understand the perspective of the business units who make up the first line of defence, the Department’s overriding responsibility is to ensure the firm avoids cultural failings and meets its regulatory obligations to avoid enforcement action, fines and reputational damage to the firm and/or its employees and greater legal and regulatory scrutiny. 

Job Overview

The role involves monitoring existing trading clients as well as managing the requirements for dormant clients wishing to start trading again with Monex. This includes transaction monitoring, payments, periodic reviews of client accounts and monitoring ongoing adverse media allegations of clients and/or directors or associates.

This role also involves maintaining good relationships with front of house staff in order to implement effective procedures for carrying out reviews and processes in a timely manner.

The role acts to support the Head and Deputy Head of Financial Crime Compliance in all areas of monitoring, as well as advising on system developments and policy changes where applicable.

Key Responsibilities & Accountabilities

Financial Crime / AML Globally

• Perform periodic client remediation’s across all legal entities within the UK (MEL, MEM) based on the risk of the client;
• Analyse trading activity for anomalies. Cross reference live data with information provided at on-boarding;
• To liaise with the front office, specifically the dealing team, to ensure good communication and a smooth process for refresh of client accounts;
• To work closely and liaise with the Customer Success Team and front office staff (where applicable) and to encourage an understanding of client risk;
• Assist with the development of internal processes and procedures for daily activities, including the ongoing development of systems and controls;
• Managing ongoing PEP/Sanction screening alerts of clients, directors and third parties, where necessary;
• Create detailed reports if high risk factors are identified;
• Escalate findings to Senior team members or Line Manager if necessary.

Business & Compliance Strategy:

• Assist with the overall Compliance strategies for London whilst completing day-to-day operations;
• Helping to advise and assist Senior management and the Front office on global risk appetite and current, country specific regulations and guidelines.

Regulatory & Financial Crime Requirements

• Broad understanding of Financial crime regulations across all relevant jurisdictions;
• Responsibility to adhere to policies and procedures set out in line with relevant regulation across each jurisdiction;
• Assisting in the continuous review and improvement of Monitoring Policies & Procedures, to continue to be compliant with regulatory changes and best practice;
• Ensuring risk based procedures are in place for the review and escalation of due diligence /KYC documentation and information on all clients.

Compliance Culture

• Encourage good forms of communication with Customer Success Team and front office and all other departments to promote the Compliance department as an essential/co-operative/effective/helpful second line of defence;
• Providing guidance where necessary in line with regulation in relation to documents required for remediation or transaction monitoring;
• To continue to form good working relationships with individual compliance departments for good communication.

Compliance Training

• Completing online training on an annual basis.
• Assisting AML training to support staff and new joiners
• Ensure CPD/personal development is maintained

Compliance Monitoring

• To assist in the identification and investigation of suspicious activity/transaction reports and report accordingly to the MLRO, or deputy MLRO;
• To assist in the review and improvement of monitoring systems and controls.

Technology & Data:

• Responsible for assisting with the sourcing and maintaining all Compliance/Monitoring systems;
• Assist in the development of internal systems to allow for effective execution of daily tasks within the monitoring team

Business Knowledge / Technical Skills

• Previous experience of working within in a similar regulated industry;
• Financial crime exposure to global AML and FC;
• Previous experience in complex AML/FC projects;
• Demonstrated experience working on AML/FC issues across jurisdictions and multiple legal entities;
• Experience in transactional monitoring, payment authorisations, periodic reviews and analysis of trading patterns and data.