Role: Alternate Principal Officer and Lead AML compliance

Reporting to: Principal Officer

Location: Mumbai, BKC

Job Purpose:

The role bearer has the responsibility for comprehensive review of AML alerts. It will include review of customer profile, transaction pattern, financials, transaction documents & ancillary information obtained through public and private sources to identify potential money laundering activities. The role holder needs to be an AML subject-matter-expert with a proven track record and should have a clear understanding of all banking products. The role bearer will also be the alternate Principal Officer and will take care of responsibilities in the absence of the Principal Officer of the Bank.

Key Responsibility:

Develop and maintain AML compliance policies and establish compliance review procedures as directed by regulatory agencies

Lead the AML transaction monitoring team

Guidance for screening outgoing and incoming remittances for Special Designated Nationals, high risk and sanctioned countries and businesses to ensure compliance with standard AML regulations

Manage any AML relevant audits or inspections, including liaise or coordination of audit matters and drafting management responses

Provide AML inputs into any new banking business or products approval that may have AML risk

Ensure that management and staff are notified of changes in laws and regulations impacting the compliance program

Report suspicious transactions and other reports to regulatory agencies, maintain proper records of detected violations and actions taken by management for audit trail

Ensure filing of periodic reports to internal and external stakeholders on time

Manage the automation & upgradation of AML Software - Transaction Monitoring

Develop and manage Customer Risk Categorization module

Manage the monitoring of work assigned to the team and recommend process changes to increase efficiency

Liaison with regulatory agencies, internal and external advisors, and other internal control groups on AML compliance related issues

Establish an appropriate compliance culture & development of specialized training programs on AML risks

Capture and share best- practice knowledge amongst the team

Stay abreast with global market trends and competitor strategies in key markets

Leverage in-house synergies through collaboration with internal stakeholders

Create an environment that promotes collaborative learning and collective ownership of responsibilities

Act as the Alternate Principal Officer and take responsibilities as a Principal Officer in the absence of the PO, as delegated

Any other activities as delegated by the Chief Compliance Officer or the Principal Officer

Desired profile:

MBA with relevant 10 years experience into AML compliance working in reputed bank with strong knowledge of banking transaction monitoring including customer risk