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General Electric Legal & Compliance Intern - Financial Crime Analyst in Cheadle, United Kingdom

Job Description Summary

The Financial Crime Compliance (FCC) team is part of GE Capital Treasury and provides Anti-Money Laundering (AML) and financial crime compliance services to several partners who, amongst other things, collect payments from GE’s external customers and ensure their accounts are reconciled by closing open invoices with these receivables. The FCC team’s Legal & Compliance Intern roles mirror those of the FCC team’s permanent analysts.

The FCC team works globally, and the team is spread around the world to meet that demand. The FCC team’s intern roles are based in Cheadle Royal Business Park, close to Manchester Airport, UK.

The internship is for 13 months and will begin late June/early July 2022. All candidates should confirm on their application that they are available for this period.

Job Description

Role Summary:

The Financial Crime Compliance (FCC) team is part of GE Capital Treasury and provides Anti-Money Laundering (AML) and financial crime compliance services to several partners who, amongst other things, collect payments from GE’s external customers and ensure their accounts are reconciled by closing open invoices with these receivables. The FCC team’s Legal & Compliance Intern roles mirror those of the FCC team’s permanent analysts.

The FCC team works globally, and the team is spread around the world to meet that demand. The FCC team’s intern roles are based in Cheadle Royal Business Park, close to Manchester Airport, UK.

The internship is for 13 months and will begin late June/early July 2022. All candidates should confirm on their application that they are available for this period.

Essential Responsibilities:

Through both automated and manual transaction monitoring, the FCC team’s function is to ensure the company’s compliance with several financial regulations and policies, specifically in terms of what payments are for, who is paying for customer purchases and how, as well as where payers are located and which financial institutions they have used to make payments. An ability to translate regulation to day-to-day finance operations and extract key information from bank statements/documents is therefore required.

Through watchlist screening, the FCC team’s work helps lessen the likelihood of GE dealing with undesirable or sanctioned parties, helps avoid involvement in fraudulent or terrorist funding and consequently reduces exposure to unnecessary risk that, at its worse, could cause severe financial and/or reputational loss to the company. Attention to detail is therefore key.

The primary responsibility of the FCC team’s interns is transaction monitoring.

This includes daily:

  • Research to prove and document relationships between customers and payers

  • Research to prove that watchlist alerts are unconnected with payers

  • Evidence gathering to prove payments are not in breach of sanctions or policy

  • Review of payments made by non-preferred methods to ensure they are not suspicious

  • Escalation of true watchlist hits and suspicious transactions to the FCC Manager

  • Maintenance of an email inbox to ensure timely response to a variety of financial crime and money-laundering queries

  • Production of various numeric reports to assist with risk management

The research aspect of the role includes looking at third-party agreements, contracts, and merger and acquisition documentation. The role will also include exposure to trade controls and sanction law.

Qualifications/Requirements:

  • Recent graduate or undergraduate in Law (or a knowledge of/qualification in compliance, regulation, forensic accounting, policy, governance, audit, or risk)

  • An ability to interpret financial data into meaningful analysis

  • Excellent written and verbal communication skills

  • Critical attention to detail

  • Proficient Excel user

  • Fluent in English

  • Eligibility to undertake placement - the internship is for 13 months and will begin late June/early July 2022. All candidates should confirm on their application that they are available for this period.

  • Legal authorization to work in the UK. GE will not sponsor individuals for employment visas, now or in the future, for this job.

Desired Characteristics:

  • 2:1 degree grade or above (or equivalent) predicted or obtained

  • Knowledge of additional European languages to English/other major world languages preferred

  • An ability to follow and interpret regulation and policy

  • Interns will ideally have some non-academic/extra-curricular experience

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