AML Officer

Purpose of the Job

The incumbent will be responsible to ensure that Bank complies with AML regulations and provides necessary support to the Compliance function in monitoring of transactions.

Deliverables

• Closure of alerts with respect to AML
• Recommending STRs on cases fit for STR filing
• To do various transaction monitoring activities
• Preparation and Updation of data for FIU reporting
• Suggesting AML process improvement plans to eliminate gaps
• Ensuring that the Bank complies with RBI regulations and provides necessary support to the Compliance function.
• Review and approve suspicious transactions and ensure quality STR submissions.
• Ensure effective transaction monitoring, customer risk assessment, and ongoing due diligence.
• Maintain AML records, audit trails, and MIS for regulatory inspections.
• Report AML/CFT risks and compliance status to senior management and the Board.
• Responsible for timely completion of ML/TF risk assessment .
• Responsible for customer risk categorization.
• Ensure AML staff is well trained on AML/KYC/CFT guidelines & regulatory awareness across the bank.

Demonstrate

• Drive team productivity, capability building, and performance management.
• In-depth knowledge on PMLA
• Analytical and problem-solving abilities
• Excellent communication skills
• Hands on MS-Excel; SQL would be an added advantage

Decision Level

Prime: Final Decision-Making authority, accountable to the Management

1. Closure of AML alerts
2. Conduct trainings on RBI Compliances
3. Process Improvement Plans
4. Reporting and presentations on non- compliances

Shared: Decisions reached jointly with peers on a collective basis

1. Documentation on AML procedures
2. Coordinate with internal auditor

Contributory: Makes a major contribution to a decision or policy judgment reached by others

1. Guidance to staff and various team members on AML related issues.