The primary function of the role is to investigate Customer Name Screening and/or Transaction Surveillance alerts in line with laid down Group & Regulatory Standards. Additional responsibilities would include Group & Regulatory Reportings.
Key Roles and Responsibilities
* Perform investigations on Transaction Monitoring alerts in line with Group Standards and Procedures. Timely reviewing and closure of alerts with justifiable comments in Audit logs in line with Group Standards and Procedures.
* Perform investigation of CMR/GNS alerts to identify AML/CTF risks by applying risk based approach. Timely reviewing and closure of alerts with justifiable comments in Audit logs in line with Group Standards and Procedures.
* Preparation of alert disposition MI and dashboards that are presented in the FCC Committee and other Business Governance forums.
* Ensure that Transaction Monitoring alerts and name screening alerts are completed within time lines defined in the Group standards and there are no overdue alerts.
* Assist the Head - FCC Controls on various projects assigned to the team from time to time.
* Identify suspicious client profiles (both individuals and entities) and initiate a review of suspicious transactions and any systems exception reports.
* Preparation of SAR reports and submission of SAR reports to the State Bank within defined TAT.
* Ensure timely escalation of all errors and issues highlighted during the investigation process.
* Rectify errors identified during the Quality Assurance Process.
* Assist the Head - FCC Controls in the development and implementation of corrective actions for identified error trends and issues.
Knowledge Development and Information Management
* Maintain accurate audit trails (documentation & electronic) for all alert investigations.
* Timely reporting and escalation of significant / High Risk issues.
* Highlighting potential gaps with correct justification and in-depth analysis performed.
* In conjunction with the MI and Reporting function, contribute to the development of Information Management metrics and reports
* Knowledge of AML/CTF Policies and Procedures and the ability to interpret and apply them to actual situations.
* Ensure active, responsive and effective stakeholder management both within FCC and with the broader Business areas.
* Work closely with the FCC Quality Assurance Team to ensure that the investigation process is implemented accurately and is delivering accurate outcomes.
* Collaborate with essential stakeholders to develop and deliver solutions to combat money laundering and financial crime.
Qualifications and Skills
- Proficiency Level
- Execute Compliance Governance, Frameworks and Models
- Partner with the business to make decisions based on the knowledge and interpretation of current and possible future policies, practices, trends and information of financial crime
- Develop and implement financial crime compliance arrangements/frameworks (processes and DOIs)
- Implement Identification, Monitoring, Testing, and Reporting
- Implement FCC/sanctions/AML/ABC risks identification and assessment and advise business on the findings
- Partner with Business and Operational Risk to identify and mitigate financial compliance risks
- Manage and Mitigate Risks
- Review system safeguards and recommend process enhancements.