Financial Crime Monitoring Analyst

Financial Crime Monitoring Analyst | London

Monex is a leading global financial solutions provider, offering a complete set of tools to support business growth and strategic financial operations.

We specialise in FX risk management and international payments, helping corporate and institutional clients design tailored FX solutions to navigate currency volatility with confidence. Our team of FX specialists implement well-considered currency strategies, offering dedicated support to help clients manage their payment needs – whether for goods, services, or direct investments.

In 2023, Monex facilitated $309 billion in FX turnover, managed $10.7 billion in assets, and processed 8.5 million transactions. With offices across North America (Canada, the US, and Mexico), Asia (Singapore), and Europe (the UK, Spain, and the Netherlands), we serve over 66,000 clients worldwide.

By combining global reach with deep local market expertise, Monex enhances businesses with a suite of financial solutions and FX market analysis to help optimise efficiency, mitigate currency risk, and protect margins in an increasingly complex financial landscape. Our corporate client experience is further enhanced by our dedicated sector expertise across a range of industries.

Department Overview

The Compliance Department is responsible for ensuring the firm operates in compliance with its regulatory obligations and has systems and controls for the prevention of financial crime. Accordingly, the department is split into two functions. Firstly, regulatory compliance provides relevant advice to the business and undertakes arms-length monitoring, acting in the capacity of a second line of defence unit. Secondly, the financial crime team undertakes the due diligence process and risk management tasks of client on-boarding and screening, monitors payments, and carries out periodic screening and KYC reviews. It works closely with the Customer Success team and Front Office.

The Department seeks to educate the wider business about regulatory and financial crime risks and requirements. The Department recognises the firm has grown rapidly and therefore system and controls may have to be developed concurrently with the business. While tactical solutions are deployed, the goal of the Department is to develop and implement scalable solutions that are not dependent on manual intervention.

Day-to-day tasks are derived from risk assessments with more robust processes and procedures built around the highest risk activities. Documenting procedures is key to ensure individuals are not exposed to subjective decision making. Financial crime prevention systems and controls must reflect the focus and challenge of the authorities and the high number of anti-money laundering and counter terrorist financing external audits that the business faces.

While the Department seeks to understand the perspective of the business units who make up the first line of defence, the Department’s overriding responsibility is to ensure the firm avoids cultural failings and meets its regulatory obligations to avoid enforcement action, fines and reputational damage to the firm and/or its employees and greater legal and regulatory scrutiny.

Job Overview

The Financial Crime Monitoring Analyst role is to perform:

• Monitoring of existing trading clients, and the resolution of any raised alerts in relation to:
• Screening hits raised in our screening platform (‘ComplyAdvantage’) against our client or any of their related parties either on Sanctions, PEPs, or Adverse Media.
• Payment Screening hits raised in our screening platform (‘ComplyAdvantage’) in relation to Incoming and Outgoing payments.
• Proactive investigations in case of identified material updates to the clients overall profile, and the triggering of ‘Event-Driven Reviews’.
• Managing the requirements for Dormant Client reactivations (our customers who, after a period of inactivity, wish to trade again with Monex).

This role also involves maintaining good relationships with front of house staff in order to implement effective procedures for carrying out reviews and processes in a timely manner.

Business Knowledge / Technical Skills:

• Previous experience of working within in a similar, regulated industry;
• Working in an EDD or Financial Crime Compliance team within a financial institution/investigations firm environment;
• Experience of conducting external AML audits;
• Experience in conducting in-depth research and drafting accurate reports to a high standard;
• Must possess good knowledge of JMLSG, FATF and other applicable regulatory frameworks;
• Strong understanding of the UK, EU and Global regulatory framework and developments in regard to Money Service Businesses - Specifically knowledge of legal obligations, regulatory and other requirements and guidance such as that set out by the Proceeds of Crime Act, the Terrorism Act, FCA, FATF and EU money laundering directives;
• Previous experience in conducting global, complex AML/FC projects.