AML Analyst

Job Description

Position AML Transaction Monitoring Team Leader/ Team Member Approximate age bracket N.A. Reporting to Anti-Money Laundering – Transaction Monitoring Vertical Head Objective The incumbent would be responsible for managing the team of analysts monitoring and analyzing the transactions to identify potential money laundering activities. Responsibilities Handling the team of AML Transaction Monitoring and Suspicious Transaction Reporting. Alerts review shall include review of customer profile, transaction pattern, financials, & ancillary information obtained through public and private sources to identify potential money laundering patterns. Drafting and/or review of Grounds of Suspicion and taking such cases to logical closure including filing of STR with FIU-IND. Ensuring high reporting standards to FIU India in terms of quality of STRs and identification and submission of P1 STRs as well as typology reports. Ensure 100% process compliance, robust internal control across the unit and product coverage through review of products/services from AML/CFT perspective at the time of implementation as well as periodic renewals. Good knowledge of complex customer types. Work closely with the product/business teams to ensure smooth day to day functioning. Provide inputs on processes to improve the system performance, rule optimization etc. Liaising with internal (branches/BCU/product teams) and external (FIU/RBI/auditors/vendors/peer banks) stakeholders for various requirements, on need basis. Essential competencies Collaborative and a team player, able to work well with other staff including departmental colleagues, business, operations and technology teams. Managing the monitoring of work assigned to the team and recommending process changes to increase efficiency. Sound knowledge about latest development across the globe about money laundering and terrorist financing. Knowledge and Understanding of Banking Regulations and Laws governing AML/KYC including FATF requirements. Investigate any unusual matters escalated by business or identified through triggered event Clear understanding of regulatory reporting requirements and interpretation of regulatory guidance Manage any AML relevant audits or inspections, including liaise or coordination of audit matters and drafting management responses etc. Any other matters assigned by the Head of Unit or line manager. Ability to take initiatives, working with tight timelines Added advantage being well versed with Merchant Acquisition Transactions/ Payment Gateway /Payment Banks transactions/I4C complaints Able to challenge the status quo and identify, recommend and implement process efficiencies. Should be a team player with strong problem-solving skills. Qualifications And Relevant experience Sound knowledge of PMLA and RBI regulations with relevant experience of minimum 5-6 years. Team handing experience is required. Show more Show less