Transaction Monitoring Role - Anti Money Laundering Unit

Unit: Anti Money Laundering Unit

Anti Money Laundering Unit is a specialized unit within the Risk Management function for containment of the money laundering risk for the Bank.

Job Role & descriptions

The job will involve a comprehensive review of AML alerts. This would involve review of customer profile, transaction pattern, financials, transaction documents &ancillary information obtained through public and private sources to identify potential money laundering activities.

The job will also entail taking such cases to logical closure including filing of STR with FIU.

Key components of the job

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

- Managing the monitoring of work assigned to the team and recommending process changes to increase efficiency.

- Knowledge and Understanding of Banking Regulations and Laws governing AML/KYC including FATF requirements.

- Responsible for monitoring customer account activity using bank's monitoring tools including AMLOCK.

- Responsible for monitoring including periodic review of thresholds for monitoring AML transactions and recommend changes in thresholds.

- Clear understanding of regulatory reporting requirements.

- Provide AML inputs into any new business or product approval that may have AML risk

Job Qualification: MBA / CA

Other Qualification: Not mandatory. Preferred - Certification in AML, ACAMS

Relevant Experience: minimum 3 - 7 years related to AML

Key skills required:-

a) Knowledge of PMLA, RBI regulations, FATF guidelines etc.

b) Experience in AML or audit function or other control functions

c) Experience in monitoring framework- AML/Audit/ Fraud risk

d) Eye for details and good learning acumen

e) Good analytical, communication (verbal and written) skills & inter personal skills.