JOB PURPOSE
The job holder will responsible for performing AML/CFT/CPF compliance functions. Such functions include implementing the Bank’s AML/CFT/CPF compliance program, conducting investigations, analysis and responding to Money Laundering/ Terrorism Financing/Proliferation Financing (ML/TF/PF) cases, identifying points of compromise and potential loss.
KEY RESPONSIBILITIES AND ACTIVITIES
KEY RESPONSIILITIES
- Transaction Monitoring and Reviews
- Collaborative Partnerships
- Strengthening Risk Management
- Reporting
Transaction Monitoring and Reviews
- Implement adequate AML/CFT/CPF controls to ensure that all possible areas of AML/CFT/CPF concerns are covered.
- Perform regular reviews of all AML/CFT/CPF controls to assess effectiveness. This includes;
- Sanction and Politically Exposed Person (PEP) screening program
- Transaction monitoring program
- Suspicious Activity Reporting (SAR) management program
- Adverse Media mentions review program
- Investigative orders management program
- Perform detailed analyses to detect patterns, trends, anomalies and schemes in transactions and relationships across bank’s processes/ customers/ products.
Collaborative Partnerships
- Assist in implementing a bank-wide AML/CFT/CPF program through risk awareness training program for all staff especially on identification and reporting of suspicious transactions.
- Maintain detailed knowledge of current AML/CFT/CPF regulations and keep track of developments within the AML/CFT/CPF 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/CFT/CPF 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/CFT/CPF 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 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 Bank’s AML/CFT/CPF program
- Training requirements for the business
- Compliance activities to be monitored
- Sample 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/CFT/CPF 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).
