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Economic Crime Group CTO2 Director

Economic Crime Group CTO2 Director

Posted 18 April by eFinancialCareers
Ended
Competitive salary
London , South East England
Permanent, full-time
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Ideas | People | Trust

We're BDO. An accountancy and business advisory firm, providing the advice and solutions entrepreneurial organisations need to navigate today's changing world.

We work with the companies that are Britain's economic engine - ambitious, entrepreneurially-spirited and high-growth businesses that fuel the economy - and directly advise the owners and management teams leading them.

We'll broaden your horizons

The Quality and Risk Management Team (QRM) provides leadership, guidance, and tools to help partners and staff manage quality and risk matters. The team is comprised of an Advisory and Compliance Team, a Chief Information Security Office Team, an Economic Crime Team, a Legal Team including a Commercial & Contracts Team, plus the Quality Monitoring Team. The team works closely with the firm's Technical Standards Group, Ethics Team, and the firm's leadership.

We'll help you succeed

Leading organisations trust us because of the quality of our advice. That quality grows from a thorough understanding of their business, and that understanding comes from working closely with them and building long-lasting relationships.

You'll be someone who is both comfortable working proactively and managing your own tasks, as well as confident collaborating with others and communicating regularly with senior managers, directors, and BDO's partners to help businesses effectively. You'll be encouraged to identify and draw attention to opportunities for enhancing our delivery and providing additional services to organisations we work with.

The Economic Crime Group (' ECG'), led by the firm's Deputy MLRO, is responsible for several key business processes in BDO LLP.

AML and related economic crime legislation

ECG sits in the Quality and Risk Management Team and is responsible for the implementation and monitoring of the firm's compliance with UK Anti Money Laundering (AML) Legislation. The group consists of a Partner and 10 members of staff. Ultimately, the ECG reports to the firm's MLRO, who is the Leadership Team Partner responsible for Risk and Reputation.

In addition to ensuring compliance with AML legislation, the ECG manages the firm's response more widely in relation to all aspects of economic crime including tax evasion, fraud, bribery and corruption and sanctions.

The ECG also handles matters relating to suspicious activity reports from the business and liaises with other stakeholders in the firm (Legal, Information Security and, stream Quality and Risk partners) as well as with external parties including the National Crime Agency.

Client and audited entities acceptance and continuance (A&C)

Ownership of Client Onboarding and Quality Assurance

In collaboration with the Ethics Team, the ECG has responsibility for the Client Acceptance and Continuance (A&C) process including ownership of the firm's client onboarding system, CTO2. The firm uses the CTO2 system to onboard clients and engagements and to manage effectively the regulatory and other risks the firm faces.

The external risk environment is constantly changing. As such, the firm needs to ensure that it addresses these changes in real-time. Consequently, continuous oversight of the CTO2 system is necessary. BDO has a large team who manage the day-to-day processing tasks.

The role for which we are seeking a Director will require an individual who can work not only with this team but also with partners and senior members of the firm across all streams (Audit, Tax and Advisory) to respond to a wide variety of A&C risk and reputational issues. These may be legislative changes, directives from our regulators and a variety of other external factors. The individual will be expected to work with the team to integrate these changes into the onboarding process and ensure that the system is upgraded periodically to deal with them.

In addition to being responsible for the client onboarding system, the Director will be responsible for the monitoring of the quality of acceptance and continuance. A new quality assurance team has been formed to review compliance with the CTO2 process and ensure it is delivering the correct outcomes to meet both regulatory requirements and the firm's own risk priorities.

The team will carry out quality assurance reviews for on-boarded engagements across the firm to evaluate compliance with a range of metrics (AML/economic crime; reputational risk, commercial and execution risk). The findings from these reviews will be graded and form part of Quality and Risk grading each year for partners in the firm.

Furthermore, the outcomes from the reviews will be used to inform and improve the firm's CTO2 system in an iterative manner. The individual appointed will be expected to work with the CTO2 Product Manager and the firm's IT architects to enable them to reflect relevant findings in the onboarding process, as appropriate.

Role and requirements

We are looking for an individual with extensive AML/economic crime subject matter experience to embed and drive forward this key area for the firm. The successful individual will need a broad range of skills including:
  • The ability to apply a detailed knowledge of UK Anti Money Laundering legislation to BDO's varied client base;
  • The ability to build a comprehensive quality assessment programme and lead a team of 6-8 reviewers and the manager of that team as well as the CTO2 product team;
  • Confidence in working with, influencing and presenting to partners and other senior people in the firm;
  • The ability to work through situations and provide solutions including working with the CTO product team and providing training and education to partners and other senior people in the firm;
  • Knowledge of other aspects of UK 'economic crime' including anti-bribery and corruption, failure to prevent the facilitation of tax evasion and sanctions legislation;
  • Working with IT solutions architects to ensure the onboarding system is up-to-date and has the flexibility to evolve as necessary.
Competencies required :
  • Business thinking: The ability to understand the firm's business strategy and goals and develop solutions aligned to these. The ability to interpret AML and other economic crime legislation and to determine practical and effective ways of complying with them. The candidate will have a deep understanding of the accountancy sector and the regulatory environment together with a comprehensive understanding of risk management principles, methodologies and internal controls.Communicating: To be able to articulate complex issues clearly to a ra
    •

    Reference: 52499786

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