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This position is to support the Head, FCC Advisory & Risk Management in establishing the Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) framework for the Group through effective implementation of initiatives to combat money laundering and terrorism financing activities. This is achieved through the following:
- Keep abreast of new regulatory developments and international best practices relating to AML/CFT and validate to ensure necessary requirements are included in the relevant policies, standards and procedures.
- Support the business units in ensuring compliance with regulatory requirements are met and to assist business in determining the bank's approach to identification, mitigation, and management of risks of ML/TF activities.
- Advise, identify and assess impact of ML/TF risk during new product/services development, promotional campaigns and other related activities.
- Management of daily name screening alerts for new customer and third party on-boarding.
- Reviews the Enhanced Due Diligence (EDD) performed and approves the on-boarding/maintaining of High Risk and Very High Risk customers.
- Develop and maintain the customer risk profiling methodology and ensuring it remains relevant and compliant with regulatory requirements.
- Undertake Special Account Management (SAM) by conducting holistic investigations on clients suspected of ML/TF activities and implement controls to mitigate the associated risks.
- Partnership with business units in managing ML/TF risk of their respective customer.
- Work effectively with regulators and industry bodies on FCC matters.
- Lead, motivate and develop an effective team through communication and with integrity.
Who are we looking out for:
- Candidate must possess at least a Bachelor's Degree, Post Graduate Diploma, Professional Degree, Finance/Banking/Business Studies/Management/Law or equivalent.
- Certification in AML/CFT is preferred.
- At least 4 year(s) of working experience in a banking and financial institution with specialization in Financial Crime Compliance. Background in consulting is an added advantage.
- Possess knowledge of legislative aspects/regulatory requirements of banking.
- Demonstrated ability to effectively communicate, both orally and in writing, through all levels of the organization.
- PC literate with knowledge in Microsoft Office Appliances.
- Strong analytical skills, sound judgment and decision-making abilities.
- Strong team spirit player with a positive attitude and having the drive to improve processes.
