Principal Officer - Bank

Principal Officer

Description:

Comply with PMLA Guidelines / FIU-IND and other regulatory requirements

Main Accountabilities:

- The Principal Officer shall be responsible for ensuring full compliance with KYC, AML, and CFT requirements.

- This includes overseeing transaction monitoring, ensuring timely identification and reporting of suspicious activities, and sharing information with relevant authorities in accordance with applicable laws, regulations, and regulatory guidelines.

Goals & KPIs:

- To ensure that AML unit is fully complying with FIU-IND & PMLA Guidelines.

- To ensure that the reporting obligations under PMLA are met.

- PO should also ensure implementation of RFI as prescribed by FIU-IND/RBI time to time.

- The PO should also ensure that all important issues are reported to the senior management of the bank on a periodic basis.

- Enhancing knowledge of AML-Unit via internal /external training/ module, including Branch Visit, Attending Seminars and Webinars on AML.

- Oversight of the implementation of the banks AML/ CFT policies and procedures, including the operation of the risk-based approach .

- Review and Approve Suspicious Transactions and ensure Regulatory Reporting (CTR, CCR, CBWTR and NTR) within TAT.

- Ensure Customer Risk Categorization as per Master Direction.

- Streamlining of AML processes and work towards bringing in improvement /efficiency in the AML processes.

- Highlighting trends to business to ensure necessary controls are put in place. The PO should be able to identify trends, prepare typologies and power point presentations.

- Liaison with FIU-IND, RBI and other regulatory bodies for KYC-AML related matters.

- Oversight of the banks compliance with its requirements in respect of staff training, including adequate arrangements for awareness and training of employees.

Experience / Skillset / Certifications Required:

- Bachelors, Masters (preferred)

Certifications:

- Professional certification in AML/KYC/CFT preferable ACAMS

Skills & Competencies:

- Team Handling, Transaction Monitoring, Regulatory Reporting, Handling Regulators, RBI, FIU- India

Experience:

- 16 to 21 Years of relevant experience, including experience of having worked as Principal Officer in any commercial bank