- Describe your sector in a nutshell.
Financial Intelligence Units or FIUs are generally defined as the central authority responsible for the receipt, analysis and dissemination of financial information related to suspected criminal conduct. FIUs are central players in combatting anti-money laundering and countering the financing of terrorism. They have a key position between the private sector and competent authorities and steer the work of professionals and other stakeholders to detect transactions suspected of links to money laundering, terrorist financing and proliferation financing. Consequently, FIUs are included in the Financial Action Task Force Recommendations (R.29) and are evaluated as part of country assessments by bodies such as MONEYVAL, the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism.
The Gibraltar Financial Intelligence Unit (GFIU) is legislated under the Proceeds of Crime Act 2015 and is operationally independent and autonomous. It has the authority and capacity to carry out its functions freely, including the ability to take autonomous decisions to analyse, request and disseminate specific information independently of the Royal Gibraltar Police and HM Customs in the discharge of its duties for the attainment of its functions.
International cooperation is of paramount importance due to the transnational nature of organised crime and of terrorist activities. Exchanges of information are made securely through the Egmont Group of Financial Intelligence Units.
- What are the different career opportunities/jobs available in your sector?
Roles (currently filled) within the Gibraltar Financial Intelligence Unit are as follows:
- Director
- Head of Operations/ Legal
- Financial Intelligence Officers
- Financial Crime Analyst
- Data Quality Analyst
- Intelligence Support Officer
- What’s interesting/fun about your sector/industry? Why should a young person want to work there?
Working within the GFIU is an exciting and challenging role, which provides new opportunities in a busy and changing environment. The GFIU’s main function is to gather, store, analyse and disseminate intelligence related to criminal conduct, (including but not limited to money laundering, the financing of terrorism and the proliferation of weapons of mass destruction), transacted or attempted to be transacted through relevant financial businesses. Financial intelligence is a very interesting area of work that touches upon a broad spectrum of crime. FIUs have a pivotal role between the private and public sector so engagement with both is very important. To do this the GFIU provides outreach, raising awareness in economic crime, providing the latest trends and patterns identified through the intelligence it receives and analyses.
- What skills/qualities do you seek in someone wanting to join your sector?
The nature of the data it holds is also extremely valuable to predict emerging criminal activity and this is done through strategic analysis. A good understanding of data interpretation using highly specialised analytical tools, provides the GFIU with an area of expertise required after which the results are then shared with the relevant stakeholders. This analysis also feeds into future Gibraltar’s National Risk Assessment.
- What is demand looking like in your sector? How do you think this will change in the future?
The GFIU is a dynamic unit that requires highly skilled individuals with continuous training opportunities with global experts in financial crime. Given the current international climate for stronger controls to counter money laundering, terrorist financing and proliferation financing, the work demand has increased significantly in many areas. It is highly likely that this demand will require more resources in the future.
- What is the approximate salary range people can earn?
As a Financial Intelligence Officer or Financial Crime Analyst, salaries can range between: £29,527; £29,881; £32,984; £34,312; £35,003; £35,704; £36,422; £37,137; £38,699.
- What career pathways are available for a young person wanting to join your sector? (University and non-university routes)
Any role in the GFIU demands a high degree of integrity, due to the access to sensitive data that is stored in the GFIU secure systems. GFIU roles do not require to undertake operational functions of a warranted Law Enforcement Officer. However, FIOs are expected to attain the basic Financial Intelligence Officers’ course which is conducted only with the UK’s Proceeds of Crime Centre. Once an FIO has passed this, they will be mentored to carry out their job applying best practices. This includes further training on IT systems and other advanced analytical products, including cryptocurrency tracing tools that are available to the GFIU. Machine Learning and Artificial Intelligence systems is something that is being explored by the GFIU to assist in dealing with the thousands of reports it receives every year. If you are interested in this field the GFIU would benefit from individuals with this type of knowledge to develop new capabilities for the future.
- Any advice to a young person wanting to join your sector?
We would encourage any young person interested in Financial Intelligence to visit our website on www.gfiu.gov.gi or to get in touch with us via email admin@gfiu.gov.gi. Our publications section in our website contains our latest annual reports which provides detailed information on the GFIU’s work throughout the year. This will give you a better understanding of what academic skills you can focus on.
