APAC FS AML Framework Officer (Vice President Grade) - This position is pivotal in ensuring our adherence to both regulatory requirements and internal policies concerning financial crime prevention. The officer will be responsible in maintaining a robust AML framework for CIB & WM activities, conduct risk assessments, and share inputs to enhance monitoring systems. The role also involves collaborating with various teams, supporting audits, and providing advisory support on AML/CTF matters. Additionally, they will be responsible for analyzing data to assess the effectiveness of the AML framework and preparing reports for senior management.
Responsibilities
Framework Development and Maintenance
- Develop, implement, and maintain a robust AML framework tailored to the specific risks of CIB & WM activities, ensuring compliance with regulatory requirements and internal policies.
- Regularly review and update AML policies and procedures to align with evolving regulatory expectations, business operations, and industry best practices.
- Ensure that the AML framework incorporates a risk-based approach, prioritizing resources towards higher-risk activities and entities.
- Identify opportunities for process enhancements within the AML framework to improve efficiency, reduce risk, and ensure compliance with best practices.
Risk Assessment and Mitigation
- Coordinate with territory compliance to perform regular AML detection gap analysis, identifying vulnerabilities and proposing risk mitigation strategies.
- Monitor and assess emerging risks, such as new financial products, geopolitical events, and evolving regulatory landscapes.
- Recommend enhancements to controls, monitoring systems, and business processes to mitigate identified AML risks.
Transaction Monitoring and Control Implementation
- Work closely with AML transaction monitoring teams to ensure that monitoring scenarios and thresholds are aligned with CIB & WM-specific risks and transactions.
- Assist in the design and refinement of monitoring rules to capture suspicious activities, such as complex cross-border transactions, high-value trades, and correspondent banking.
- Develop and maintain key control matrices for CIB & WM activities to ensure AML compliance across all business lines.
Cross-Functional Collaboration
- Collaborate with other AML teams (e.g., Transaction Monitoring, Investigations, Sanctions), Legal, Compliance, Risk, and business units within CIB & WM to implement the AML framework effectively.
- Serve as a liaison between CIB & WM business units and the broader AML function to ensure smooth communication, understanding of CIB & WM risks, and implementation of AML controls.
Audit and Regulatory Support
- Prepare and provide support for internal audits and external regulatory reviews related to the CIB & WM AML framework.
- Address and resolve audit findings, ensuring timely implementation of remediation plans and recommendations.
Data Analysis and Reporting
- Analyze data to assess the effectiveness of the AML framework and provide insights for continuous improvement.
- Prepare regular reports and dashboards for senior management on the performance and status of the CIB & WM AML framework, including key risk indicators and compliance metrics.
Project Coordination and Support:
- Assist with the management of AML/CTF CIB & WM tools in APAC territories, including deployment, decommissioning, and ongoing maintenance.
- Fine-tune CIB & WM automated AML monitoring tools (Actimize, Quantexa, etc.) to optimize their effectiveness, by closely working with the CEP L1 team.
- Provide general support to the APAC Head of AML Adv., NAP & Corporate Coverage Compliance.
- Provide advisory support to senior/regional management, Territory Compliance teams, businesses, and functions in the APAC region on complex AML/CTF matters
- Provide advisory support on AML/CTF aspects on complex TAC/NAC
- Coordinate and conduct training related to AML monitoring.
Requirements
- Prior experience in Compliance and Projects on AML/CTF and Framework Excellent communication skills and preferably with some experience of dealing in multiple countries in Asia Pacific.
- Able to operate independently and with initiative, taking ownership of tasks and larger projects, as appropriate.
- Able to work collaboratively as a part of a team, and to connect and engage well with business and other functions, whether in person or remotely.
- An understanding of the fundamental AML/CFT/Sanctions laws, regulations and suspicious reporting standards.
