Anti-Money Laundering - Manager
The AML BU CoE department provides a Customer Identification Program (CIP) and Customer Due Diligence (CDD) service to State Street's Business units spread across globally. The department is tasked with procuring Client Identification document, validating the requirements as per the requirement matrix. The team's primary responsibility is to support the Business Units in onboarding the customers as per the agreed timeline and periodically review the existing customers as per their Risk Rating. The team will collaborate with FIU, Compliance, all Lines of Business Units and KYC Shared Services in order to comply by the AML policies and requirements.
The BU CoE team, which is based in Hyderabad & Bangalore, India, is responsible for collecting and analyzing client data, documents and publically available information on State Streets' new and existing clients to comply with firm's AML/KYC Policy and Procedures. The team is, further, responsible for ensuring that all existing clients of State Street are renewed in accordance with firm's AML/KYC Policy and Procedures. RESPONSIBILITIES :
Responsibilities will include:-
REQUIREMENTS : Education and Experience
- Provide technical and specialist support to the BU CoE Team.
- Liaise with the Shared services team/management to ensure timely completion of client on boards.
- Ensure State Street AML/KYC Compliance Policy requirements are met and that CIP/CDD procedures are followed
- Monitor and manage the completion of CIP/CDD documentation for all Customers in line with applicable AML Policies & Procedures
- Ensure CIP/CDD assessments are met using corporate compliance tools and methods prior to account opening are completed before account opening and on an on-going basis for all accounts
- Manage and review the preparation of MIS, status reports for senior management etc.
- Implement a self-testing program to ensure State Street Policies, procedures and standards are followed.
- Thorough knowledge of SOPs/related check points
- Manage people and ensure the team get along to achieve common goals and keep the morale of the team is high
- Review and improve on productivity benchmarks on ongoing basis
- Manage senior management and stakeholders effectively
- Identify opportunities for process efficiency & implement in a controlled manner.
- Work both independently and as a team in a fast paced production environment.
- Graduate and above
- Knowledge of know-your-customer process and anti-money laundering laws is mandatory.
- Staff-management experience of min 2-3 years.
- Conflict management and strong customer service rendering experience.
- Audit or assurance experience
- Possess in depth knowledge on complete KYC process.
- Expertise in different entity types, such as Trusts, Hedge Funds, regulated entities, SPV Etc.
- Identifying / understanding complex ownership structure
- Should have good understanding of USA Patriotic Act and CIP.
- Should have knowledge on World Check, Lexis-Nexis and negative searches.
- Should know how to access Business information sources such as ORBIS, One Source, Bloomberg, etc,.
- Ability to interpret KYC policies, procedures and laws and put into practice
- Ability to support staff on the application of new procedures and policies
- Excellent communication skills and ability to engage with senior managers from different State Street sites in North America and APAC locally communicating confidently, effectively and clearly in both written and verbal forms
- Can flex and adjust to different reporting requirements of various State Street sites
- Excellent organizational and administrative skills
- Ability to supervise other staff and to participate in the process to ensure work is completed accurately and on time
- Ability to perform effectively to strict deadlines
- Should have the ability to groom the team members and prepare a succession plan.