Compliance:Transaction Monitoring Team

About Compliance

The Compliance department assists the Board and Top Management in managing the compliance risk, that is, the risk of legal or regulatory sanctions, financial loss or reputational loss that the Bank may suffer as a result of its failure to comply with the applicable laws, regulations or code of conduct applicable to banking activities It ensures strict observance of all statutory provisions in various legislations such as Banking Regulation Act, Foreign Exchange Management Act, Prevention of Money Laundering Act, Reserve Bank of India Act, etc as well as the regulatory guidelines issued from time to time, the standards and codes prescribed by BCSBI, FEDAI, FIMMDA, etc and also the Bank s internal policies and fair practice codeAbout the RoleThe Transaction Monitoring team is responsible for monitoring transactions to ensure compliance to the Anti Money Laundering provisions of Law / Regulation They are also responsible for processing and submission of suspected transaction reports and handling queries from LEA/Statutory AuthoritiesMonitor transactions in the account from Anti Money Laundering perspectivePrepare notes on suspicious transactions for reportingContribute in improving processes / policy and compliance standardsLiaison with various stakeholders of the Bank to ensure proper co-ordination and exchange of data/informationCollate data under various analytic parameters in line with the transaction monitoring functionsQualificationsMBA / Postgraduate with Banking backgroundAML Related Course/ Programme Certification is desirableRole ProficienciesGood understanding of the provisions of the Prevention of Money Laundering ActGood communication (both verbal & written) and inter-personal skillsStrong Excel and database manipulation skills, financial and statistical analysis skills)Ability to work on large database in Excel; Analyzing data; Report preparation for information to Senior ManagementAbility to manage risk and uncertainty for self and team within a dynamic priority-setting environmentAbility to prioritize and make decisions in a fast-paced environment