Head - AML/Sanctions & Screening

Job summary

Anti-Money Laundering Unit is a specialized unit within the Compliance function for containment of the Money laundering risk for the Bank

The sanctions/screening Head is responsible for ensuring the bank complies with international and local sanctions regulations by monitoring, analyzing and reporting potential sanctions violations. Handling the overall of process of AML Sanctions Screening. The job role included review of existing process, revamping/streamlining the process and policy document in line with regulatory/country/global standards.

Acting as a central point of contact for queries/advice sought from various business/operations stake holders within Bank. Interacting with relevant teams to raise awareness of Banks processes around the subject. Vendor management.

The role involves assisting the Sanctions desk of AML compliance unit in its daily activities.

Role and Responsibilities

- Review of Banks sanction and screening SOPs / policy/ Framework at frequent interval and recommend and advise latest development on latest regulation from the statutory bodies.

- Recommending and advising corrective measure /steps in implementation of latest rule, regulation issued / published by local as well as international statutory bodies. E.g. press release from US treasury, EU, UN, FATF etc. at BOD to check potential sanction implementation with immediate effect.

- Review of Negative list and advise the addition / deletion of the respective list basis recent Perform UAT /SAT of entity screening product processor wherever is required and applicable. Follow-up with the respective IT team / stakeholder for deliverable of enhancement in the respective entity screening product processor development.

- Perform UAT /SAT of entity screening product processor wherever is required and applicable. Follow-up with the respective IT team / stakeholder for deliverable of enhancement in the respective entity screening product processor.

- Perform analysis against True / False match received through AMLOCK / entity screening product processor. Review and advise the correct disposition.

- Recommending and advising corrective actions with regards to such customers, wherein customers are dealing money laundering through trade based transactions and sanctions entity, Individual and country.

- Analyze output of economic sanction watch list screening and make decision on appropriate actions to be taken within given SLA timeframe

- Conduct internal and external outreach for enhance due diligence review, adverse media news PEPs, SIE and SIP screening.

- Ensure Trade transaction and remittance are aligned with customer line of business are in compliance with applicable law, rule, regulations (local and international) and corporate policy.

- Maintain high level of compliance awareness and knowledge to effectively support enhance due diligence and other related area of responsibility.

- Update conclusion to business and involved stakeholder about existing / newly on boarded customers where risk tolerance is exceeded based on analysis.

- Escalate and recommend customers for closure to concern to seniors appropriate, wherein customers are involved with material sanctions.

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