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15/11 Hiral Shah
Branch Manager at Pylon Management Consulting

Views:4964 Applications:60 Rec. Actions:Recruiter Actions:39

Senior Manager - Financial Crime Compliance - BFSI (12-16 yrs)

Mumbai Job Code: 394432

To assist management in the detection of suspicious activity and occurrence of financial crime, ensuring that the Business operates in accordance with all Group standards relating to Anti-Money Laundering (AML) and Sanctions, so as to protect and enhance the reputation of DIVISIONS with its regulators and avoid significant financial loss or reputational damage.

This is achieved through providing surveillance and investigation capabilities.

To help promote, lead and manage, throughout the Business, the culture and practice of FCC risk management within the letter and spirit of relevant Local Laws and Regulations and all Group standards relating to FCC

Reports Direct to Country Head Reports Indirectly to Head of Compliance, DIVISIONS Governance, Administrative activities as well as ensuring that at entity level all FCC managed risk issues are reported and highlighted to stakeholders.

Job Objectives

Oversee all financial crime risk matters in DIVISIONS including anti money laundering, other serious breaches of code of conduct such as corruption, and any other financial crime related matter.

Ensure DIVISIONS strictly complies with the Country's Money Laundering Prevention Policies and Standards and any other financial crime related policies and standards that may be implemented from time to time.

Ensure DIVISIONS strictly fulfills the obligation of money laundering reporting in India such that suspicious activities are promptly escalated, investigated and dealt with; in such a manner that the financial and reputation effect on DIVISIONS and the ORGANISATION Group (the Group) is minimized.

Ensure financial crime risk in DIVISIONS is effectively managed such that the financial, regulatory and reputation impact to DIVISIONS and the ORGANISATION Group can and will be controlled and minimized.

Provide DIVISIONS Management with professional advice on all aspects including risk assessment and significant changes of financial crime trend and practice.

Assist the Country Head of FCC and DIVISIONS Head of Compliance in the implementation of their objectives incountry, as required.

(A) Management of Money Laundering Prevention (MLP)

Become the Principal Officer of DIVISIONS under PMLA 2002 for reporting of suspicious transactions to FIU, India and Money Laundering Reporting Officer (MLRO) under Groups MLP regime.

Ensure DIVISIONS Money Laundering Prevention Policy and Standards are strictly complied with, and report promptly to DIVISIONS and Group management of any significant money laundering issues that may give rise any regulatory and reputation impact to DIVISIONS and the Group.

Monitor closely all local regulatory development (RBI) on MLP and update promptly the DIVISIONS MLP policy and standards. Ensure that the businesses are well aware of the new requirement and they are complied with.

Develop and implement effective Suspicious Activities Reports (SAR) reporting procedure in accordance to the local law and regulatory requirement. Review from time to time, the SAR reporting procedures and evaluate its effectiveness. Ensure the SAR reports are in good quality and handled in a timely and effective manner.

Investigate SAR reports and give direction in managing any money laundering risk that DIVISIONS may be exposed to.

Monitor the SAR reporting trend and provide risk assessment to DIVISIONS and Group management with measures to counter any significant risk issues.

Perform country money laundering risk assessment on regular basis; advice Country and Group management about any ML risk that DIVISIONS may be exposed to, and give recommendations to improve the situation.

Ensure the businesses strictly comply with the local and Group standards and requirement on CDD and account monitoring.

Develop and implement MLP training pack and programs; ensure all staff is well trained with knowledge and importance of anti-money laundering measures and they are fully aware of their duties and legal obligations in ML Prevention.

Prevention of Financial Crimes

Develop and implement financial crime review programs ensuring timely identification of risks and the development of cost-effective counter measures.

Develop and perform training program on financial crimes including fraud and money laundering awareness and prevention, for DIVISIONS staff on a regular basis.

Provide professional advice to Management in relation to the prevention of financial crimes.

Develop and implement an effective incident reporting procedure for financial crimes. Ensure any significant issues will be reported promptly to DIVISIONS and Group management.

Develop and maintain close relationship with Regulators, law enforcement agencies and counterparts of other financial institutions, offer such assistance, if necessary, to them in relation to any related affairs with a view to protect DIVISIONS and the Groups interest and reputation.

Support Country Head of FCC in carrying out similar duties.

Management of Information:

Implement and maintain a system for the collection, collation and dissemination of relevant statistical information for country and functional management.

Deliver regular briefing to Management by presentation and/or meetings, provide case updates and disseminate any significant changes in crimes trend and practice in relation to money laundering and any other irregularities.

Knowledge, Skills & Experience

Educational background to a minimum of degree level.

Substantial experience in the financial services industry and FCC management skills.

In relation to AML, the job holder should:

Have a good knowledge of the Group, the Policies, Procedures and Standards relating to Financial Crime Risk, as well as knowledge of the local regulations and legislation on AML / CTF and sanctions.

Strong analytical and decision making skills, strong responsibility and organization skills, strong drafting skills, excellent negotiation and communication skills written and verbal including presentation skills, quick learner, good listener and ability to work independently with minimal supervision and to complete tasks in a timely manner, self-motivated and self-reliant with the ability to provide practical and effective advice.

Having the ability to accept challenge, understand other points of view and adapt an approach beneficial to the organization.

Good judgement, excellent collaborative and team playing skills, diplomacy, empathy and a can-do attitude, politeness, sensitivity and the ability to gently, but professionally stand by your ground when needed.

An inquisitive approach to practices, procedures and specific transactions, personal authority and integrity, independence, creativity, resourcefulness and resilience.

Must possess ability to assess risk, strong leadership qualities, excellent interpersonal skills and multi cultural awareness and sensitivity.

Understanding of the key features of relevant FCC laws and regulations that affect the Group.

This job opening was posted long time back. It may not be active. Nor was it removed by the recruiter. Please use your discretion.

Women-friendly workplace:

Maternity and Paternity Benefits

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