Client Manager at ABC Consultants
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Lead - AML Transaction Monitoring & KYC Compliance - Bank (12-18 yrs)
Lead - AML Transaction Monitoring & KYC Compliance (Bank)
Job Purpose :
- The role bearer has the responsibility for comprehensive review of AML alerts.
- It will include review of customer profile, transaction pattern, financials, transaction documents & ancillary information obtained through public and private sources to identify potential money laundering activities.
- The role holder needs to be an AML subject-matter-expert with a proven track record and should have a clear understanding of all banking products.
- The role holder is expected to provide KYC Guidance to the Business Units.
Roles & Responsibilities :
Key / Primary Responsibilities of the Role - List the primary deliverables :
- Develop and maintain KYC/AML compliance policies and establish compliance review procedures as directed by regulatory agencies
- Guidance for screening outgoing and incoming remittances for Special Designated Nationals, high risk and sanctioned countries and businesses to ensure compliance with standard AML regulations
- Manage any AML relevant audits or inspections, including liaise or coordination of audit matters and drafting management responses
- Provide AML inputs into any new banking business or products approval that may have AML risk
- Ensure that management and staff are notified of changes in laws and regulations impacting the compliance program
- Report suspicious transactions to regulatory agencies, maintain proper records of detected violations and actions taken by management for audit trail
- Ensure filing of periodic reports to internal and external stakeholders on time
- Manage the automation & upgradation of AML Software - Transaction Monitoring
- Develop and manage periodic KYC updation program along with Customer Risk Categorization module
- Manage the monitoring of work assigned to the team and recommend process changes to increase efficiency
- Liason with regulatory agencies, internal and external advisors, and other internal control groups on AML compliance related issues
- Establish an appropriate compliance culture & development of specialized training programs on AML/KYC risks
- Capture and share best- practice knowledge amongst the team
Secondary Responsibilities - List the deliverables other than primary, but essential for the role :
- Stay abreast with global market trends and competitor strategies in key markets
- Leverage in-house synergies through collaboration with internal stakeholders
- Create an environment that promotes collaborative learning and collective ownership of responsibilities
Managerial & Leadership Responsibilities - (if applicable) :
- Monitor key parameters on productivity, hiring quality and attrition rates and make necessary improvements
- Champion customer first culture by driving the team to take up high degree servicing norms to ensure absolute customer delight
- Attract and retain best-in-class talent for key roles in their reporting structure
Key Success Metrics : Portfolio Quality
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