Economic Crime Risk Manager

Virgin Money UK; United Kingdom; On-site; GBP 58,000 - 73,000; Full time

Job description

Business Unit: Risk

Salary range: £58,400 - £73,000 per annum DOE + red-hot benefits

Location: UK Remote

Contract type: Fixed term (circa up to 12-18 months)

Live to inspire change. Live a life more Virgin.

Our Team

This is an exciting time to join Economic Crime Risk, a second line of defence (2LOD) function. Our Governance & Insights team is looking for an Economic Crime Risk Manager to support us in our contribution to the Virgin Money purpose: to protect customers and stop bad people doing bad things through our firm. The Governance and Insights team leads the delivery of key areas of 2LOD Economic Crime (EC) Risk, including monthly reporting and governance, insightful analysis, the Business Wide Risk Assessment (BWRA), risks and controls oversight, change oversight, regulatory engagement and reporting, and the many BAU aspects of running a team.

What you'll be doing

1. Risk Management Practices: Ensuring risk management practices are well understood, communicated, and embedded across the Bank by liaising with the first and second line of defence (1LOD & 2LOD) on the timely identification and management of emerging risks and issues.
2. Risk Assessment Management: You'll be working with the Group Sanctions Officer to deliver the Sanctions and Proliferation Financing Risk Assessment, providing project management oversight and ensuring the risk assessment is conducted in accordance with the Methodology, as well as providing final outcomes and creating reports.
3. Support and Guidance: Leading the support, guidance, and constructive challenge to manage risk effectively, driving a robust control environment and providing a central point of contact for Economic Crime Risk Management interactions with colleagues in other areas of the Bank.
4. Reporting: Coordinating and drafting inputs for standing EC committees and forums with the audience including the Money Laundering Reporting Officer and Senior Managers with responsibilities in fraud and financial crime.
5. Providing Insights: Proactive insight and analysis on EC Risk Profile resulting from change and mitigation plans across to reduce the risk exposure. Manage and report progress of actions flowing from governance forums related to your area/roles/responsibilities. Escalate any control failures, risks, issues through formal governance.
6. Stakeholder Engagement: Working with key stakeholders in both 1lOD and 2LOD in ensuring policies, procedures, and practises fully compliant with all legal and relevant regulatory requirements and codes of practice / conduct are adhered to. Building relationships with the 1LOD fraud and financial crime hubs, creating a culture of continuous improvement, control, flexibility and effectiveness.
7. Regulatory Engagement: Lead the communications on behalf of the MLRO supporting the quarterly proactive engagement and ad hoc requests for information (RFI).

We need you to have

1. Proven practical experience of working within a risk and control environment.
2. A strong understanding of Risk Management Frameworks and Business/Enterprise-Wide Risk Assessments.
3. The ability to build strong and effective relationships and communicate confidently with senior stakeholders.
4. Previous experience of leading others across organisational boundaries.
5. Proficiency in analysing and understanding risks and to be able to challenge and advise.
6. Experience of report writing and presenting outcomes to wide and varied audiences.

It's a bonus if you have but not essential

1. Financial Services industry experience.
2. A qualification in Economic Crime from a relevant institution e.g. ICA Diploma in AML or Fin Crime Prevention, ACAMS qualification, Accredited Counter Fraud Specialist, or similar.

Red Hot Rewards

1. Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time) plus the option to buy more.
2. Up to five extra paid well-being days per year.
3. 20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt.
4. Market-leading pension.
5. Free private medical cover, income protection and life assurance.
6. Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness.

And there's no waiting around, you'll enjoy these benefits from day one.

Feeling insatiably curious about this role?

If we're lucky to receive a lot of interest, we may close the advert early and would hate you to miss out.

We're all about helping you Live a Life More Virgin, so happy to talk flexible working with you.

Say hello to Virgin Money

We're making great strides towards achieving our ambition of becoming the UK's best digital bank. As a full-service digital bank with a heritage stretching back over 180 years, we're a workforce to be reckoned with, and we're putting the full power of our experience behind disruptive ideas that reinvent the role a bank plays in people's lives. We're customer-obsessed and work tirelessly to deliver on our purpose, 'Making You Happier About Money.' This means we're able to do banking differently, and by innovating and working together we can make a real difference by creating memorable moments and red-hot experiences for our millions of customers. Join us and Live a Life More Virgin that empowers you with choice and flexibility in how you work.

Be yourself at Virgin Money

Our purpose is to make people happier about money, this means seeing and feeling the world as our customers do by creating a workforce that reflects the rich diversity of our customers and communities. We're committed to creating an inclusive culture where colleagues feel safe and inspired to contribute, speak up and be heard.

As a Disability Confident Leader, we're committed to removing any obstacles to inclusion. If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team [e-mail].

It's important to note that there may be occasions where it's not possible to interview all candidates declaring a disability who meet the essential criteria for the job. In certain recruitment situations such as receiving a high-volume of applications, we may need to limit the overall numbers of interviews offered to both disabled and non-disabled applicants.

Now the legal bit

Living A Life More Virgin allows our colleagues to be based anywhere in the UK (if the role allows it), but we'll need you to confirm you have the right to work in the UK.

If you're successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre-employment checks - we'll ask for six years of regulatory references, and once in the role, you'll be subject to periodic employment checks.

Advertised: 19 Mar 2025 GMT Standard Time
Applications close: 26 Mar 2025 GMT Standard Time