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.