Job Description
JOB PURPOSE
The purpose of the role is to perform AML/CTF/CPF compliance functions. Such functions include implementing the Bank’s AML/CTF/CPF compliance program, conducting investigations, analysis and responding to Money Laundering/ Terrorism Financing/Proliferation Financing (ML/TF/PF) cases, identifying points of compromise and potential loss.
KEY RESPONSIBILITIES AND ACTIVITIES
• Transaction Monitoring and Reviews
• Collaborative Partnerships
• Strengthening Risk Management
• Reporting
Transaction Monitoring and Reviews
• Implement adequate AML/CTF/CPF controls to ensure that all possible areas of AML/CTF/CPF concerns are covered.
• Perform regular reviews of all AML/CTF/CPF controls to assess effectiveness. This includes;
• Sanction and Politically Exposed Person (PEP) screening program
• Transaction monitoring program
• Suspicious Activity Reporting (SAR) management program
• Adverse Media mentions review program
• Investigative orders management program
• Perform detailed analyses to detect patterns, trends, anomalies and schemes in transactions and relationships across bank’s processes/ customers/ products.
Collaborative Partnerships
• Assist in implementing a bank-wide AML/CTF/CPF program through risk awareness training program for all staff especially on identification and reporting of suspicious transactions.
• Maintain detailed knowledge of current AML/CTF/CPF regulations and keep track of developments within the AML/CTF/CPF scope, sanctions, terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
• Maintain strong working relationship with internal stakeholders to ensure that compliance issues are regularly discussed and addressed
Strengthening Risk Management
• Ensure that AML/CTF/CPF procedures and processes are in line with regulatory requirements.
• Proactively identify gaps in the assigned reviews, assessments, projects and follow up on implementation of agreed mitigation controls.
• Monitor and track closure of management actions from the compliance reviews, regulators’ and External auditors’ reports.
Reporting
• Prepare weekly, monthly and quarterly reports on the state of AML/CTF/CPF program to the MLRO
• Report control weaknesses or lapses to the manager in a timely manner, recommend mitigation controls or process and policy changes and follow up implementation of agreed actions.
Execution of instructions and any other duties from the Assistant Manager Compliance/ Senior Manager Compliance, as assigned from time to time.
DECISION MAKING AUTHORITY
• Closure and escalation of alerts
• Suspicious transaction to be reported
• Appropriate documentation for use in Suspicious Activity or Transaction supporting documents
• Transactions to be marked in the system as suspicious
• Customers to be updated in the blacklist
• Communications to business on awareness on issues and trends noted
• Appropriate remediation action on implementing the Bank’s AML/CTF/CPF program
• Training requirements for the business
• Compliance activities to be monitored
• Sample High-risk accounts to be reviewed
ACADEMIC BACKGROUND
• Bachelor’s Degree in Business related course or equivalent.
• Anti-Money Laundering Certification
WORK EXPERIENCE
• At least 2 years’ banking experience in AML/CTF/CPF in an Enterprise Risk Management function
SKILLS & COMPETENCIES
• Knowledge of money laundering techniques and regulations
• Knowledge of regulatory compliance requirements and risk management principles
• Demonstrable analytical skills and Experience in working with Server Query Language (SQL) and analyzing large volumes of data
• Good knowledge of payment services and operations
• Good Organizing and planning skills
• Good knowledge of payment services and operations
• Results oriented, effective communicator and a team player eager to learn and share experiences
• Proficiency in Microsoft Office Applications
PROFESSIONAL CERTIFICATION REQUIRED
• Certification in a professional association such as the Association of Certified Anti-Money Laundering Specialists (ACAMS)