AML Transaction Monitoring Officer
Job details
AML Transaction Monitoring Officer
Key Responsibilities:
Provide support in developing and evaluating effective AML/CFT monitoring policies, procedures, programs, and controls for the Bank to enable the business departments to effectively detect, manage and mitigate the risks associated with Money Laundering and Terrorist Financing.
Monitor, review and evaluate the AML/CFT policies and procedures on regular basis. Keep abreast with industry with regard to AML/CFT policies and sanctions and report changes/recommendations to the management in order to update them accordingly.
Act as the primary maker for daily AML alerts, conducting thorough analysis and investigation.
Assist in enforcing a culture that supports a robust, resilient AML/CFT program and constructive approach to address risks associated with Money Laundering and Financing of Terrorism in the Bank.
Collaborate with business units to gather essential information and documentation related to AML alerts.
Ensure timely escalation of alerts to the management for further review and timely closure. Maintain accurate and detailed records of investigations and actions taken.
Collaborate with senior AML Transaction Monitoring Officers to escalate suspicious cases.
Stay abreast of regulatory requirements and internal policies related to AML processes.
Communicate effectively with team members and other relevant stakeholders.
Participate in the development and enhancement of AML transaction monitoring procedures. Contribute to ongoing efforts to improve the effectiveness and efficiency of AML monitoring processes.
Provide support in responding to regulatory inquiries and audits related to AML activities.
Ensures that all assigned MIS reports are prepared timely and accurately and meet the Bank and department's requirements, policies and standards.
Represent the department and actively contribute in internal meetings with various stakeholders as well as external meetings with clients/vendors.
Perform any other duties of similar nature that are related to the department and are within the expertise and skills of the jobholder.
Qualifications & Skills:
Minimum Qualifications:
Bachelor's degree in finance, business, or a related field.
Minimum Experience:
At least 02- 04 years of related working experience in handling Anti Money Laundering and combating financing of terrorism compliance in financial institutions.
Skills & Knowledge:
Previous experience in AML transaction monitoring within a banking environment.
Knowledge of relevant AML laws, regulations, and industry best practices.
Strong analytical and presentation skills, as well as a proficiency in data analysis.
Excellent communication and interpersonal abilities.
Ability to work collaboratively in a fast-paced environment.
Detail-oriented with a commitment to accuracy.
Understanding of the financial services industry and its products.#J-18808-Ljbffr
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