Compliance-Analyst -AML

Role & responsibilities

Job Purpose Junior AML Officer is responsible to ensure efficient identification and monitoring of alerts, scenarios and suspicious activities / transaction in the Bank and ensure timeous review of alerts and cases, review and reporting of cases to the Team leader and closure of alerts and tracking of cases reported to Team leader for proper closure.

Preferred candidate profile

1. Alert Monitoring

• To review alerts generated by AML system or monitoring based on exception reports
• To analyze transactions vis-a-vis customer profile and establish bonafides of the transaction or identify as suspicious
• Carry out enhanced due diligence (including media search) for cases found to be suspicious as per initial review
• To liaise with branches / operations / product teams for clarifications on the alerts and/or report based monitoring
• To update in the AML system and/or maintain records with reasonably non-arbitrary justification for closure of non suspicious alerts / transactions
• Ensure that the data / records referred during analysis / closure of alerts and transaction monitoring are captured either in physical or softcopy for all future reference (including evidences for any investigation by internal or external bodies)

2. STR Reporting

• To ensure timely review of alerts converted to cases, framing of Ground of Suspicion’ (GOS) and submission of cases to Team Leader for further review and recommendation
• To liaise with branches / operations / product teams for completion of ground of suspicion to report STR
• To report suspicious transactions to FIU-IND through the Suspicious Transaction Reporting (STR) process
• To update STR reporting in the AML system and/or maintain records

3. Regulatory requirements, reporting and queries (specific areas as assigned)

• To keep self, updated with all regulatory guidelines and key developments in AML domain and appear for mandatory AML courses as determined from time to time
• To coordinate with the various teams and ensure timely receipt of data from various teams for regulatory reporting / queries.
• To ensure that the customer risk profiling is done as per the policy and rules framed thereunder
• To arrange and collect all relevant information as per queries received from regulators / LEA like RBI / SEBI / FIU-IND / Police or any other agency under statutory obligations

4. Adverse Media Scanning

• To read newspaper / internet for current affairs related to individuals / entities involved in criminal or money laundering or terrorist activities and trigger caution if any of these individuals / entities are customer of the bank
• To carry out media search on for cases found to be suspicious as per initial review (as a part of EDD)

5. Quality and Process Improvement

• To ensure improvements and value additions to current processes and gaps identified in the existing processes
• Ensure that processes for monitoring areas / scenarios assigned to the concerned AML officers are kept updated.
• To suggest and implement fine tuning of scenario parameters for reduction of False positive alerts.