The top five trending financial crime contingent roles you should be after

As the nature and expectations of employees across the globe continues to evolve in 2023, the need for a truly global contingent workforce has never been stronger.

Being part of a contingent ecosystem in 2022 will offer a plethora of opportunities as businesses adopt differentiated models to not only helpfully resume BAU, but in a landscape where financial crime and increased regulation to combat this is rife, to also manage and mitigate the uncertain nature of future business challenges. This is especially relevant in terms of new hiring trends for those in Financial Crime prevention.

Financial Crime roles are becoming some of the most in demand contingent placements within financial services, as firms try to keep up with constantly changing regulatory and risk environments.

The sector has experienced seismic growth over the past few years as businesses look for qualified experts in compliance, AML, KYC, EDD to help strengthen financial crime compliance processes and systems.

In this latest insight, we will highlight the top trending roles that are most in demand by financial services firms. If you are looking to start a new career within financial crime or are interested in what current trending roles to get involved with, here are the current top five most in demand financial crime roles.

  1. Financial Crime Advisors:

It is no surprise to see Financial Crime Advisors at the top of the list for one of the most in-demand financial crime roles. These individuals are usually the first point of escalation and advisory on internal company procedures in relation to Financial Crime, for all internal departments.

A day in the life of a Financial Crime Advisor, would be reviewing incomplete customer files in line with CDD requirements, AML, and Sanctions standards, performing CDD reviews whilst applying a risk-based approach to assess financial crime risks and assess the available evidence to make a risk-based decision on whether to exit the relationship through a defined process or escalate the customer file to an appropriate SME. Many organisations will find it beneficial for potential candidates to have worked within a KYC advisory role for a minimum of two years.

  1. Financial Crime SME:

The second on our list of most in demand financial crime roles is a Financial Crime SME. These individuals are usually the principal escalation point for referrals from a CDD Triage Team which handles reviewing customer files as part of a CDD remediation programme.

The Remediation Advisory Team / External Vendor will refer to all files where they have identified potential financial crime concerns and it will be the responsibility of the FC SME to carry out a holistic review of the customer files to assess the materiality of the risks in question. They will then be responsible for determining whether the file should be returned to the Triage Team to continue processing or escalated to Senior Management.

Associates who want to be successful within this role will have worked in a Financial Crime role for a minimum of two years.

  1. KYC QA Analyst:

KYC QA Analyst makes the number 3 spot on our list. They are experienced in the world of financial crime as well as being an accomplished QA. KYC QA Analysts will need to be confident working within a time sensitive and highly regulated environment, taking a leading role in finding control weaknesses through the testing of both risk based and end to end processes.

A usual day will include conducting QA duties on a remediation assurance project covering both retail and corporate due diligence, providing independent holistic reviews of procedures, communicating feedback to management and senior stakeholders on emerging trends and issues and reviewing complex company structures across retail and corporate clients. Collaboration with colleagues to ensure financial crime risks have been identified, assessed, and managed.

Desired skills include experience in the review of High Risk CDD/EDD related to banking and financial crime experience and a good understanding of Financial Services.

  1. Senior KYC Project Manager:

Number four on our list is a Senior KYC Project Manager. These individuals will have oversight of KYC and AML workflows with an understanding of the regulatory landscape and compliance requirements attached to them. They will manage the implementation and embed financial crime systems and controls, carrying out themed reviews of controls including project managing financial crime control changes.

This role will require more experience in 8+ years’ of working within KYC/Financial Crime and earlier project/operations management experience is essential.

  1. MI Analyst:

The number five spot on our list belongs to the MI Analyst. They are responsible for report preparation and review, supporting and interacting with internal and external stakeholders, and supporting management in preparing written commentary on reports and metrics.

Day-to-day activities will include delivering reports on a regular and ad-hoc basis. This will be achieved by setting up and monitoring high standards of control over report preparation, data sourcing, data analysis, and reconciliation.

Previous experience working on a Financial Crime project would be a distinct advantage.

Make your next career move a great one with Momenta

Momenta is a global contingent resource solutions company, supplying skilled professionals to the financial services, legal, technology, and training and development sectors for over 30 years.

If you believe you may have the right skills and experience for an exciting new project with us, get in touch. By becoming one of our associates, you join a company that provides people with quality opportunities, development, and ongoing support globally.

If you are looking for a new financial crime role opportunity in the contingent workforce, start your journey with us today.