Manager, Financial Crime Compliance

Job Summary

As a member of the Compliance team specialising in Anti Money Laundering (AML), Counter Financing of Terrorism (CFT) and Counter Proliferation Financing (CPF), your role is to assist in the implementation of AML/CFT/CPF program, communication with regulators (when necessary), render guidance to Financial Crime Compliance (FCC) team members and report to management on the state of affairs in relation to any ML/TF/PF concerns. This role reports to Head, Financial Crime Compliance.

Job Responsibilities

Advisory:

• Advise and challenge AML/CDD/KYC practices to all relevant stakeholders;
• Advise the Head of FCC and team on any new AML/CFT/CPF regulatory requirements;
• Oversee the management of Law Enforcement Agencies (LEA) orders and Request for Information (RFI) from relevant authorities;
• Collaborate with cross-functional teams to implement process improvements and leverage automation solutions.
• To engage with regulators such as BNM, Securities Commission and Paynet where required.

Governance:

• Provide guidance on AML/KYC directives and provide guidance to stakeholders;
• Improve controls and monitoring related to AML/CDD/KYC;
• Report AML/CDD/KYC incidents to the Head of FCC and/or Chief Compliance Officer (CCO);
• Address AML/KYC backlogs and escalate issues to Head of FCC and/or Chief Compliance Officer;
• Ensure timely escalation of suspicious transaction reports to FIED;
• To assist in preparing management reports on the current affairs in relation to AML/CFT/CPF;
• To monitor the productivity of transaction monitoring team;
• To oversee the maintenance of the internal watchlist and blacklist;
• To obtain concurrence from CCO/HOD in establishing suspicion for STR escalation;
• Develop policies and procedures in accordance to the regulators AML/CFT requirements;
• Stay updated on changes in sanction regimes and ensure the implementation of effective controls to mitigate sanctions risks.

Risk Assessment:

• Perform Institutional Risk Assessment when the need arises;
• To be guided by the Business Risk Based Approach and Relationship Risk Based Approach in developing the AML/CFT/CPF framework and methodologies for controls deployed;
• Derive typologies, parameters and thresholds for customer risk rating, transaction monitoring and other controls deemed necessary;
• Leverage escalation findings from investigation team by conducting holistic investigation on customer's transaction activities including individual and corporate to assess any suspicious activity, pattern or behavior found in transactions;
• Produce well-written reports detailing and analysing the potential suspicious activities and make determination whether to close the case or file for Suspicious Transaction report (STR) within prescribed SLA;
• Investigate and escalate to BNM on confirmed sanction match hits identified during the screening exercise.
• To collaborate with the Fraud Monitoring team in combating financial crime through joint initiatives and synchronising information asymmetry.

Training and Awareness

• Manage and coach FCC team members;
• Coordinate annual AML/CFT/CPF training sessions for Board, Senior Management and all staffs;
• Foster a compliance culture and awareness by promoting best practices and disseminating relevant information on a periodic basis;
• To conduct continuous internal AML/CFT/CPF training sessions, as and when a new modus operandi & emerging trends that are uncovered or when made available through market intelligence.

Other Ad-Hoc tasks

• Any miscellaneous tasks as assigned by the Head of FCC and/or CCO;
• Assist in responding to audit and regulatory inquiries related to AML/CFT/CPF and Sanctions.

Job Requirements

• Bachelor degree in Banking and Finance or a related field.
• At least 8 years working experience in the compliance, operational risk and/or audit in the banking industry.
• Good knowledge of AML/CFT/CPF requirements and procedures.
• Excellent oral and written communication skills, ability to manage stakeholders.
• Highly-analytical with strong attention to detail.
• Proficiency in Google and Microsoft Office tools.