About the role
Job Description: Chief Financial Crimes Officer (CFCO)
Industry: Banking, Financial Services, Insurance, Investment
Job Type: Full-Time
Reporting To: Chief Risk Officer (CRO) / Chief Compliance Officer (CCO) / Board Risk & Compliance Committee
Job Summary
The Chief Financial Crimes Officer (CFCO) is responsible for leading the organization's enterprise-wide financial crime prevention framework, including Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), fraud prevention, sanctions compliance, and anti-bribery & corruption programs.
This role ensures the organization is protected from financial crime risks while maintaining full compliance with regulatory requirements and international standards. The CFCO plays a critical role in safeguarding the organization's integrity, reputation, and operational resilience.
Key Responsibilities
1. Financial Crime Strategy & Governance
Develop and implement a comprehensive financial crime risk management strategy
Establish governance frameworks covering AML, fraud, sanctions, and anti-corruption
Align financial crime programs with enterprise risk and compliance strategies
Promote a strong financial crime compliance culture
2. AML/CFT & Sanctions Compliance
Oversee AML/CFT programs, including KYC, CDD, EDD, and transaction monitoring
Ensure compliance with international standards (e.g., FATF) and local regulations
Manage sanctions screening and compliance frameworks
Ensure timely reporting of suspicious activities (STR/SAR)
3. Fraud Risk Management
Oversee fraud prevention, detection, and investigation frameworks
Implement controls to minimize internal and external fraud risks
Leverage advanced analytics and monitoring tools
Coordinate fraud response and recovery efforts
4. Financial Crime Detection & Investigations
Lead investigations into suspicious transactions and financial crime activities
Ensure proper escalation and reporting to regulators and authorities
Collaborate with law enforcement and financial intelligence units (FIUs)
Maintain robust case management and documentation processes
5. Regulatory Compliance & Reporting
Ensure compliance with all financial crime-related regulations
Manage regulatory inspections, audits, and reporting obligations
Maintain audit-ready documentation and controls
Monitor regulatory developments and adapt frameworks accordingly
6. Technology & Analytics
Oversee financial crime technology platforms (AML, fraud detection, sanctions screening)
Implement AI/ML-based monitoring and analytics tools
Enhance detection capabilities through data-driven insights
Drive digital transformation in financial crime management
7. Training & Awareness
Develop and deliver financial crime training programs
Promote awareness of AML, fraud, and compliance risks
Ensure employees understand reporting obligations and procedures
Foster a culture of vigilance and accountability
8. Stakeholder & Regulatory Engagement
Act as the primary liaison with regulators, FIUs, and law enforcement
Provide financial crime insights to executive leadership and Board
Collaborate with risk, compliance, audit, and business units
Represent the organization in industry forums
9. Leadership & Team Management
Lead and develop financial crime compliance teams
Establish performance standards and KPIs
Foster a culture of integrity and accountability
Support talent development and succession planning
Key Requirements
Education
Bachelor's or Master's degree in Finance, Law, Business Administration, or related field
Professional certifications such as CAMS, CFE, ICA, or equivalent are highly preferred
Experience
12–18+ years of experience in financial crime, AML, fraud, compliance, or risk roles
Proven experience in senior financial crime leadership roles (e.g., CFCO, Head of Financial Crime, AML/Fraud Leader)
Strong experience in banking, financial services, insurance, or investment sectors
Skills & Competencies
Deep knowledge of AML/CFT, fraud, sanctions, and anti-corruption frameworks
Strong analytical and investigative skills
Expertise in financial crime detection and prevention technologies
Leadership and team management
Excellent communication and stakeholder engagement
High ethical standards and attention to detail
Ability to manage complex regulatory environments
Key Performance Indicators (KPIs)
Reduction in financial crime incidents and losses
Compliance with AML/CFT and financial crime regulations
Effectiveness of detection and monitoring systems
Timeliness and accuracy of regulatory reporting
Audit and regulatory inspection outcomes
Employee awareness and training completion
Preferred Attributes
Experience in multinational or highly regulated financial institutions
Exposure to advanced analytics, AI/ML, and regtech solutions
Strong relationships with regulators and law enforcement
Ability to manage complex financial crime risks
Compensation & Benefits
Competitive executive salary
Performance-based incentives
Executive benefits and allowances
Originally posted on Himalayas