AML & KYC Analyst at Sidian Bank

JOB PURPOSE

The purpose of the role is to perform AML/CFT compliance functions and reviewing KYC. Such functions include implementing the Bank’s AML/CFT compliance program, conducting investigations, analysis and responding to Money Laundering/ Terrorism Financing (ML/TF) cases, identifying points of compromise and potential loss.

KEY RESPONSIBILITIES AND ACTIVITIES

• Transaction Monitoring and Reviews
• Collaborative Partnerships
• Strengthening Risk Management
• Reporting

Transaction Monitoring and Reviews

• Implement adequate AML and CTF controls to ensure that all possible areas of AML & CTF concerns are covered.
• Perform regular reviews of all AML & CTF controls to assess effectiveness. This includes;
  • Sanction and Politically Exposed Person (PEP) screening program
  • Transaction monitoring program
  • Customer and Enhanced Due Diligence program
  • Suspicious Activity Reporting (SAR) management program
  • Adverse Media mentions review program
  • Investigative orders management program

Collaborative Partnerships

• Assist in implementing a bank-wide AML program through risk awareness training program for all staff especially on identification and reporting of suspicious transactions.
• Maintain detailed knowledge of current AML regulations and keep track of developments within the AML scope, sanctions, terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
• Maintain strong working relationship with internal stakeholders to ensure that compliance issues are regularly discussed and addressed

Strengthening Risk Management

• Ensure that AML procedures and processes are in line with regulatory requirements.
• Proactively identify gaps in the assigned reviews, assessments, projects and follow up on implementation of agreed mitigation controls.
• Monitor and track closure of management actions  from the compliance reviews,  regulators’ and External auditors’ reports.

Reporting

• Prepare weekly, monthly and quarterly reports on the state of AML program to the MLRO
• Report control weaknesses or lapses to the manager in a timely manner, recommend mitigation controls or process and policy changes and follow up implementation of agreed actions.
• Execution of instructions and any other duties from the Assistant Manager Compliance/ Senior Manager Compliance, as assigned from time to time.

DECISION MAKING AUTHORITY

• Closure and escalation of alerts
• Suspicious transaction to be reported
• Appropriate documentation for use in Suspicious Activity or Transaction supporting documents
• Transactions to be marked in the system as suspicious
• Customers to be updated in the blacklist
• Communications to business on awareness on issues and trends noted
• Appropriate remediation action on implementing the banks AML/CFT program
• Training requirements for the business
• Compliance activities to be monitored
• High-risk accounts to be reviewed

ACADEMIC BACKGROUND

• Bachelor’s Degree in Business-related course or equivalent.
• Anti-Money Laundering Certification

WORK EXPERIENCE

• At least 2 years’ banking experience in AML in an Enterprise Risk Management function

SKILLS & COMPETENCIES

• Knowledge of money laundering techniques and regulations
• Knowledge of regulatory compliance requirements and risk management principles
• Demonstrable analytical skills and Experience in working with Server Query Language (SQL) and analyzing large volumes of data
• Good knowledge of payment services and operations
• Good Organizing and planning skills
• Good knowledge of payment services and operations
• Results oriented, effective communicator and a team player eager to learn and share experiences
• Proficiency in Microsoft Office Applications

PROFESSIONAL CERTIFICATION REQUIRED

• Certification in a professional association such as the Association of Certified Anti-Money Laundering Specialists (ACAMS)