What's Happening?
LHV Bank, a UK-licensed financial institution, is seeking a Financial Crime Manager to lead the enhancement of its Financial Crime Risk Assessment (FCRA) framework. This role is crucial for maintaining a robust financial crime control environment across
the bank's core business segments, including Retail Banking, SME Lending, and Banking Services. The Financial Crime Manager will be responsible for assessing financial crime risks, evaluating existing controls, and identifying opportunities to strengthen the bank's overall framework. The position involves providing independent assurance and oversight on anti-money laundering (AML), counter-terrorism financing (CTF), fraud, and sanctions risks, ensuring compliance with regulatory expectations and internal policies.
Why It's Important?
The recruitment of a Financial Crime Manager is a strategic move by LHV Bank to enhance its financial crime risk management capabilities. This role is vital for ensuring the bank's compliance with regulatory standards and mitigating risks associated with financial crimes. By strengthening its risk assessment framework, LHV Bank aims to protect its operations and reputation, while also safeguarding its clients' interests. The position underscores the growing importance of financial crime prevention in the banking sector, as institutions face increasing scrutiny from regulators and the need to adapt to evolving threats. The successful implementation of a robust financial crime framework can enhance the bank's competitiveness and trustworthiness in the financial market.
What's Next?
Once the Financial Crime Manager is appointed, the focus will be on completing and enhancing the bank's enterprise-wide Financial Crime Risk Assessment. This will involve collaborating with various stakeholders to identify and document financial crime risks, evaluate control effectiveness, and implement necessary improvements. The role will also require staying abreast of regulatory developments and emerging typologies to ensure the bank's framework remains effective and compliant. The successful candidate will play a key role in promoting a culture of risk awareness and ensuring that anti-financial crime controls are embedded in customer journeys and supported by scalable infrastructure.
