Financial Crime Compliance Specialist (1 year fixed-term contract)

Purpose of the Job

MERCK FINCK A QUINTET PRIVATE BANK is one of the few private banks in Germany that is entirely dedicated to private banking. Our commitment to quality is reflected in the personal touch with which we treat our clients and staff. As a legally dependent branch of Quintet Private Bank (Europe) S.A., we operate both locally and on the European financial market. We foster a corporate culture in which client focus, the joy of shared success and mutual respect are central factors.
We are a bank headquartered in Luxembourg, with branches in Belgium, Denmark, Germany, Netherlands and a subsidiary in the UK and supervised by the CSSF with an ambition to stay true to our purpose to be the most trusted fiduciary of family wealth.

When you join the Quintet Group you are joining a company that values diversity of background, equal access to opportunities, career development, collaboration and inclusiveness. We want our employees to feel proud of being part of a company that is committed to do the right thing. You will have the opportunity to grow your career while developing personally and professionally through various resources and programmes. 

The Financial Crime Compliance ("FCC") Specialist (the ‘role holder’ or Specialist) is a subject matter expert within the German FCC team. The principle role is supporting the local Head of Compliance in ensuring that the team delivers high quality compliance advice to colleagues across all German functions in the areas of: Anti-Money Laundering ("AML"), Counter Terrorism Financing ("CFT"), Fraud, Anti-Bribery & Corruption, Sanctions and Tax Evasion. The role holder hierarchically reports to the Head of Compliance Germany, and has a functional reporting line to Head of Group Financial Crime Compliance, thus working closely with other EU and UK Financial Crime Advisers to ensure the successful delivery of the Compliance function’ strategy. 

Key Accountabilities

• Risk Stewardship and Compliance: Act as the escalation and primary advisor on FCC related matters for stakeholders in the [Location]. Advise the second line, first line and business process owners on appropriate steps and approaches to be taken to ensure that systems and processes which support implementation are aligned to the standard/procedural requirements and control the identified risks.                                     
• Risk Assessment and Management: support the local Head of Compliance and where required Head of Group Financial Crime Compliance in conducting risk assessments to identify and mitigate FCC-related risks, ensuring that effective controls and due diligence practices are in place across all applicable countries.                                     
• Policy Development and Implementation: support the local Head of Compliance and where required Head of Group Financial Crime Compliance  in drafting and reviewing locally related FCC related appendices to group policies/desktop guides/manuals, procedures, and training materials to ensure alignment with local regulatory requirements.                                     
• High risk client review / client investigation / escalated Level 3 alerts / SAR, STR reporting: support the local Head of Compliance and where relevant Head of Group Financial Crime Compliance in high risk client file review, client investigation and escalated level 3 alerts by 1LOD or escalated to relevant 2LOD stakeholders in a timely manner.                                    
• KYT and Transaction Monitoring: support the local Head of Compliance and where required Head of Group Financial Crime Compliance  in overseeing the sanctions screening process for KYT/Ex Post Transaction Monitoring ensuring that potential AML/CFT risks/issues are escalated and managed appropriately. Provide advice on Ex Post Transaction Monitoring system calibrations and rule management.                                     
• Investigation and Reporting: support the  local Head of Compliance and where required Head of Group Financial Crime Compliance in overseeing FCC-related investigations, and drafting SAR/STR reports, and conducting root-cause analysis for any identified breaches or issues.                                     
• Cross-Functional Collaboration: Partner with legal, compliance teams (such as the Compliance Monitoring Team, L&D team, RC & Cross Border team), risk, and business functions to integrate sanctions controls into wider FCC frameworks, adapting strategies to accommodate country-specific needs.                                     
• Stakeholder Engagement: support  local Head of Compliance and where relevant Compliance' senior leadership team in interaction with in their interactions with [location] regulators, and where appropriate assisting Quintet’s Compliance seniorship leader team/local Heads of Compliance in their interactions with [EU/UK]  regulators, by gathering the relevant information and assisting in the drafting of responses in a timely manner.                                    
• Regulatory change: Identifying new relevant initiatives from the German and other EU regulators, and carrying out regulatory and policy impact analyses.                                    
• Culture: The role holder must carry out all duties in strict accordance with Quintet’s Code of Conduct and act as its ambassador at all times. As any other member of the Compliance function, the role holder will foster a positive culture of compliance across [Location] and Quintet.                                            

Knowledge and Experience

• Higher Education (University / Bachelor)                                
• More than 5 years experience in a similar role
• Good working knowledge of the German FCC (AML/CFT/Fraud/Bribery&Corruption/Tax Evasion) regulatory environment including Suspicious Activity/Transaction Reporting. Ability to interpret rules and regulations and communicate the requirements clearly and effectively to a diverse range of stakeholders.                                
• Experience of drawing up and maintaining policies on regulatory requirements, associated controls and Risk Assessments.                                
• Solid understanding of Private Banking business and Asset Servicing business models in all states of evolution including applicable regulatory requirements and operational processes.                                
• Proven relevant experience in an Tier 1 private bank/ wealth or asset manager/ regulator/ legal or professional services firm.  

Attributes and Qualities

• Communication (Verbal & Written)                                
• Critical Thinking & Problem Solving                                
• Time Management                                
• Results Orientation                                
• Collaborative Teamwork

Technical Skills

• Good understanding of technical aspects of monitoring & screening systems relevant to Financial Crime Compliance (Name Screening, Transaction Screening, Ex Post Transaction Monitoring, Securities Screening) and  associated controls.                                
• MS Office proficiency                                                       

Languages Skills

• English and German: Fluent