Job Description

• We’re looking for an experienced Transaction Monitoring Officer who will be responsible for AML / CFT Monitoring including reviews and investigations on matters escalated from the business, drafting of responses to correspondent questionnaires, regulatory submissions, filling of Suspicious Transaction Reports (“STRs”) or other ad hoc tasks within the remit of the Monitoring Team.
• The role entails assisting in the development, implementation, and maintenance of the Anti-Money Laundering program within the company.

Job Responsibilities
Operational:

• Monitor business relations and transactions from a Due Diligence and Money Laundering / Terrorist Financing perspective on an on-going basis through the Automated Transaction Monitoring Systems.
• Monitor customer transactions from an Anti-Money Laundering (“AML”) perspective.
• Ensure closure of alerts with appropriate closure remarks / comments.
• Ensure that investigators are following the appropriate escalation mechanisms when responses are not obtained from business lines.
• Manage, identify, and escalate suspicious transactions to the line manager for onwards reporting to the Financial Monitoring Unit.
• Review the Anti-Money Laundering/Combating of Terrorism Financing Profile submitted by investigators on regular basis.
• Review STRs reported, created cases and identify certain trends to take appropriate measures.
• Conduct Quality Assurance (“QA”) of closed AML alerts using a sampling methodology.
• Review existing AML Scenarios and give suggestions for improvement and rationalization.
• Keep abreast of related laws, regulations and best practices pertaining to Anti-Money Laundering/Combating of Terrorism Financing.
• Contribute in giving suggestions to enhance systems, methodologies, and process simplification.
• Identify and assess possible Money Laundering / Terrorist Financing risks that may arise in relation to new products, services, business practices and delivery mechanisms.
• Manage day-to-day AML operations, including oversight over the implementation and adherence to the Compliance Manual.
• Support the Head of Anti-Money Laundering/Combating of Terrorism Financing in responding to Correspondent Banks and Financial Institutions AML questionnaires and queries.
• Participate in relevant Anti-Money Laundering/Combating of Terrorism Financing related projects as per the Bank’s project guidelines.

Reporting:

• Prepare and submit quarterly reports to the relevant bodies and institutions.
• Report AML statistics to the line manager and the Head of Compliance (“HOC”) and update the AML dashboard.

Policies, Systems, Process & Procedures:

• Follow all relevant policies, processes and standard operating procedures, and instructions so that the work is carried out in a controlled and consistent manner.
• Oversee the effectiveness of the Transaction Monitoring systems including defining system requirements, parameters, scenarios, logic, and underlying models.
• Act as a Subject Matter Expert to support Compliance in developing, maintaining, and reviewing Anti-Money Laundering/Combating of Terrorism Financing related policies, procedures, and processes.
• Develop regular monitoring procedures and practices to assess the adequacy and effectiveness of internal systems of control and measures.

Supervision:

• Coordinate with cross functional business units on advisory related to Anti-Money Laundering/Combating of Terrorism Financing and Transaction monitoring issues.
• Provide guidance and on the job training for colleagues and conduct knowledge sharing sessions.
• Manage the Monitoring Team by tracking against individual objectives and motivating staff to maximize performance.

Compliance:

• Ensure that Anti-Money Laundering/Combating of Terrorism Financing procedures are implemented and maintained in line with local regulations and international best practices within Compliance, Business, and Operations for new and existing customers.
• Emphasize the importance of the Compliance Division to the company’s overall business practices.
• Maintain strict confidentiality of STRs either under investigation, filing or filed.
• Ensure timely remediation of gaps identified in internal/external audits and regulator’s supervisory audits related to Anti-Money Laundering/Combating of Terrorism Financing.
• Complete the mandatory compliance training within the specified timeframe.

Required Skills

• 5+ Years of professional experience
• At least 4 years of business experience in an AML Compliance role
• Financial Crime and compliance knowledge, specifically AML / CFT.
• In-depth understanding of Rules / Regulations relating to AML / CFT.
• Accuracy and attention to detail.
• Proficiency in office management tools (PC Skills, MS Office).
• Team Management Skills