Analyst, First Line Monitoring

5 months ago

Mount Victoria, New Zealand Rabobank Full time

Job Overview & Purpose:
The role is a proactive role with first line of defence responsibility to provide Quality Assurance/First Line Monitoring (6 eye) checks of Customer Due Diligence reviews and client onboarding within Operations New Zealand.

Your main stakeholders will be the Client Integrity Unit in New Zealand, and you will work closely with CDD Analysts, Team Leads and Management to provide timely feedback, coaching and assurance over the completeness and quality of CDD files in line with the Global First Line Monitoring Framework, covering both the New Zealand Country Banking Rural branch network, and our retail RaboDirect Online Services. The remit of the role is to provide timely quality assurance over existing client Ongoing Customer Due Diligence (OCDD) activities within these business segments, and in-line with global and local policies and procedures.

These activities require expert understanding of the various AML/CTF CDD requirements for each client entity type, the documentation required for the entities and an understanding of complex business and entity structures. In addition, you will be required to compile monthly reporting on progress to management.

The role requires the individual to contribute to a culture of continuous improvement from both an efficiency and quality perspective.

Context of Job:
In this role, you will support the “engine room’ of Risk in Rabobank NZ as part of a back-office team, primary responsibility for providing assurance over Anti-Money Laundering and Countering Financing of Terrorism and Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard.

This team supports the operational activities of our business while being in control and compliant with regulatory requirements and risk appetite. Continuous improvement focus through projects and other automation / digitalisation of our regional way of working and key focus on culture of one team and empowered employees.

Management of risk and compliance with both external and internal obligations of the bank is fundamental to the long-term success of Rabobank. Rabobank has well developed policies and procedures to manage risk, within an overall strategy, risk appetite and risk and compliance framework set by the Board and Executive Committee.

**JOB PROFILE**:
**Key Responsibilities and Accountabilities**:
Coordination of Operational Risk, Assurance and Compliance Activities
- Ensure that the CDD standards are maintained to the highest quality and details are legally accurate. Providing Quality Assurance/First Line Monitoring (6 eye) for Client Due Diligence files for both new clients and reviews
- Advise and escalate any issues to Operations Management/Compliance as appropriate
- Devise and recommend process and control improvements necessary to reduce operational and compliance risk highlighted by identified assurance deficiencies. Monitor implementation of actions.
- Review the design and operating effectiveness of Operations process, initiate and implement initiatives for improvement.
- Assist management in developing and implementing appropriate treatment plans where deficiencies are identified.
- Ensure alignment between risk, standards/guidelines, procedures and controls.
- Other duties as directed

**Stakeholder Management**
- Act as Advisory support to Line 1 and collaborate with Line 2 and 3, where relevant, to resolve identified issues and understand regulatory change impacts.
- Provide support to the broader team to continually improve the framework and compliance culture.
- Attend Global and Australia First Line Monitoring Meetings.

**Reporting**
- Prepare and deliver insightful reporting, consistent with Regional requirements (including monitoring and testing results and any risk information required for external reporting).
- Analyse management information to identify risk trends and propose actions to address them.

**Education**
- Support the development of a constructive culture by educating and creating awareness of AML / CFT, FATCA / CRS in a way that makes it real for staff and aligns to Operations strategic direction.
- Share lessons learnt and best practice across the business units / enterprise as a result of analysis or trend identification.

Note: these duties may change from time to time to meet operational or other requirements.

**Qualifications**:

- Bachelor’s Degree in Finance, Accounting, Economics, Management

**Experience**:
Essential
- Quality Assurance experience (minimum of 5 years) specific to AML/CTF and CDD requirements.
- Experience in developing processes, guidance and training specific to AML/CFT.
- Analytical and problem-solving skills
- Data analytic skills

**Desirable (Optional)**
- Quality Assurance experience specific to FATCA / CRS requirements.
- Working experience with Banking systems and transactions preferred

**Knowledge**:

- Has a sound knowledge and understanding of Quality Assurance.
- Code of Banking Practice, AML, CTF, Sanctio

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