Lead - AML Transaction Monitoring & KYC Compliance - Bank

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