Senior Policy Analyst, Country Financial Crime Risk (6 month Contract)

Role Title:Senior Policy Analyst Country Financial Crime Risk (6 month contract)

Role Type:6-month contract (Inside IR35 -PAYE day rate only)

Role location:London

About Westpac: We are Australias first bank and oldest company and one of four major banking organisations in Australia. This opportunity sits in our London office supporting our international Financial Crime business.

How will I help

This role will be a to support the International AML team for Westpac on a key regulatory project. The amended Australian Anti-Money Laundering & Counter Terrorism Financing Act (AML/CTF Act) represents a strategic shift in the approach to the regulatory landscape for the Australian regulated sector. The AML/CTF Act has materially expanded the scope of extra-territorially applicable obligations as well as an opportunity for us to adopt a more consistent AML/CTF risk management approach globally.

This position will lead the regulatory and comparative analysis of global and country requirements to support our international locations uplifting to the target state across London New York Frankfurt and Singapore.

Depending on the operating model determined by Country Financial Crime Compliance this will be met through either:

1. Country Addenda model: Reviewing local regulatory obligations within our international locations to identify more stringent different or less-stringent requirements and setting these out in Country Addenda to the global documents; or
2. Country AML/CTF Policy model:Reviewing the global AML/CTF Policies and Standards to incorporate new global requirements into local country AML/CTF Policies & Standards.

Key responsibilities

Partnering with Country Financial Crime leaders to agree the operating model best suited to their location.

Country Addenda model:

1. Review and compare the new global AML/CTF Policies and Standards against local AML/CTF obligations set out in local laws regulations or binding guidance
2. Identify requirements under local regulatory landscape which mandates more-stringent requirements
3. Identify requirements under the local regulatory landscape and with input from local country 2LOD/1LOD teams to identify any different requirements
4. Identify requirements where a less-stringent country variation is needed to address local conflicts of law or requirements the country is unable to comply with due to material commercial impacts or nuances of the local market
5. Consult on the proposed variations with the applicable stakeholder teams within second and first lines of defence
6. Capture the scope of country-variations required in the Country Addenda template in a globally consistent manner.

7. Facilitate applicable review and approval of the Country Addenda in line with the global Policy requirements.

   Country AML/CTF Policy model:

8. Review and compare the new global AML/CTF Policies and Standards against local country AML/CTF Policies
9. Identify global AML/CTF Policy requirements which are more stringent than the existing country AML/CTF Policies and Standards requirements
10. Identify existing country AML/CTF Policy requirements which are more stringent than the global AML/CTF Policies & Standards which are not supported by obligations in local AML/CTF legislation regulation or binding guidance
11. Consult on the proposed changes with the applicable stakeholder teams within second and first lines of defence
12. Draft applicable changes to the country AML/CTF Policies and Standards
13. Facilitate applicable review and approval of the updated country AML/CTF Policies & Standards in line with the global and local Policy requirements.

What does success look like

• Delivery of Country Addenda and/or updated country AML/CTF Policies and Standards
• Demonstration of required behaviours and Westpac values.
• Positive feedback from stakeholders on clarity collaboration and adoption of new requirements

What do I need

• Minimum 5+ years experience in financial crime compliance operational risk governance assurance or related roles within banking consultancy legal
• Proven experience in AML/CTF Policy impact assessment drafting and consultation
• Strong working knowledge of AML/CTF obligations regulatory requirements and industry practice within international markets
• Written and Communication Skills - Superior written communication skills and demonstrated experience in leading the production of professional corporate reports

Whatsit like to work here

When you join youll become part of the broader Westpac family where we aim to be a friendly switched-on team working for a single purpose - Creating Better Futures Together its what we do who we are and why we come to work every day. As an equal opportunity employer were proud to have created a culture where people can be their best in an environment that values diversity and flexibility.

Within the Westpac you will be part of the Institutional Banking division where our vision is to be a high performing and innovative institutional bank committed to enabling the growth of our global clients our economy and delivering sustainable shareholder returns.

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