Anti Money Laundering Role - Transaction Monitoring - Bank

Job Role & descriptions

The job will involve a comprehensive review of AML alerts in the team. This would involve review of customer profile, transaction pattern, financials, transaction documents & ancillary information obtained through public and private sources to identify potential money laundering activities.

The job will also entail taking such cases to logical closure including filing of STR with FIU. The job holder would need to have coverage of full spectrum of AML activities from Transaction Monitoring to Investigations. The job holder needs to be an AML subject-matter-expert with a proven track record and should have a clear understanding of all banking related products.

Key components of the job

- Collaborative and a team player, able to work well with other staff including departmental colleagues, business, operations and technology teams.

- Managing the monitoring of work assigned to the team and recommending process changes to increase efficiency.

- Knowledge and Understanding of Banking Regulations and Laws governing AML/KYC including FATF requirements.

- Responsible for monitoring customer account activity using bank's monitoring tools including AMLOCK.

- Responsible for monitoring including periodic review of thresholds for monitoring AML transactions and recommend changes in thresholds.

- Investigate any unusual matters escalated by business or identified through triggered event and where appropriate make a necessary recommendation to file STR. In doing so, draft the necessary STR.

- Clear understanding of regulatory reporting requirements.

- Provide AML inputs into any new business or product approval that may have AML risk

- Contribute and Handle IT projects relating the AMLOCK / AML monitoring to improve the efficiencies.

- Conduct regular AML trainings to staff as needed

- Ability to handle senior management expectations by communicating AML requirements

- Manage any AML relevant audits or inspections, including liaise or coordination of audit matters and drafting management responses etc

- Any other matters assigned by the Head of Unit or line manager.