Principal Officer

Job Description:

We are looking for Principal Officer for a bank in Mumbai.

- To handle the vital role of KYC/AML Compliance of the entire Bank in the capacity of the Principal Officer (PO)/ MLRO of the Bank. Ensuring Compliance to the directions issued by FIU Ind, various Law Enforcement Agencies and Regulators.

Position Responsibilities:

Key Responsibilities:

- Principal Officer / MLRO of the Bank for ensuring KYC/AML compliance, implementation of regulatory prescription and internal policies, overseeing and ensuring the reporting of STR, CTR, NTR, CCR, CBWTR and other reports to FIU-IND.

- Approving all the Suspicious Transaction Reports (STRs) and ensuring the maintenance of quality of reporting.

- Timely submissions of STRs to FIU-IND.

- Managing a team of around 40 members and ensuring that all the TATs are adhered to and the laid down processes are strictly followed by these members.

- Review of AML and sanction screening rules under Thematic Study, BAAS as well as also review the transaction monitoring rules in automated solution (JOCATA) periodically.

- Actively involved in coordinating with JOCATA for resolution of issues/developments in system.

- Ensuring that all the RFIs implemented and monitored by the team.

- Ensuring Transaction Monitoring and Surveillance of Demat accounts.

- Transaction monitoring of BAAS alerts from AML perspective is monitored.

- EDD activity as an outcome of Review of Risk Categorization on half yearly basis is handled.

- Approval for onboarding of High risk, PEP and Gems and Jewelry accounts

- Media News and Strike Off Companies received need to be overseen.

- Reviewing and approving all the documents related to KYC/AML of/for Correspondent Banking and Wolfsberg Questionnaire.

- Ensuring strict adherence to the OFAC sanction Policy as well as overseeing the review of KYC/AML SOP and KYC Policy.

- Attending Concurrent Audit, Internal Audit and RBI Audit for activities in the jurisdiction of PO.

- Providing input for CIC and Board Notes. Ensuring the ML/ TF risk is adequately managed and keep the senior management, Board/ ACB updated on the same.

- Conducting KYC/AML training program for the bank's employees. Ensuring timely update of the training material.

- Active involvement in the Knowledge session conducted by AML Assurance team.

- Sharing the knowledge on KYC/AML to all the Bank Employees.

- Guiding other units of the Bank regarding KYC/ AML policy of the bank.

Qualifications:

Essential - Graduate, Postgraduate - MBA/ CA will be an added advantage

Experience: Essential - 15 years of banking experience

- At least 10+ years of experience in AML function

- 5+ years of experience in managerial role

- Required ability to transfer strategic ideas to the technical team and to communicate technical details to non-technical audiences.