AML Advisory Compliance Officer
- Permanent, Full time
- Recruit Legal
- 31 Aug 18
A corporate bank is looking for an AML Advisory specialist to join their team!
Responsible for assisting the Head of Compliance in the discharge of regulatory / business (AML/CFT) compliance duties of the Bank.
Main Duties and Responsibilities :
- Assist to monitor and interpret all new / revised laws and regulations (AML/CFT) (“requirements”) applicable to the Bank’s business.
- Assist to evaluate and determine the extent of applicability to the Bank of these new/revised laws and regulations and notify Management of the requirements.
- Assist to implement compliance policies and procedures and educate affected staff to ensure understanding and effective implementation of these new/revised laws and regulations.
- Assist to formulate policies, procedures and business practices to address the requirements of these new/revised laws and regulations in consultation with Management, compliance officers and personnel of relevant departments.
- Advice and support staff on all queries relating to compliance.
- Conduct periodic compliance checks, tests and audits, including preparing preliminary reports on findings and follow up to ensure proper implementation of recommendations by departments concerned.
- Evaluate and endorse applications and reports submitted by relevant departments where endorsement by Compliance is required.
- Assist to monitor and keep management abreast of the compliance concerns, including areas of weakness and propose new or changing laws, regulations and rules.
- Assist to conduct Compliance Committee meetings, Compliance Officers meetings, compliance seminars and any necessary departmental seminars and to take record of such meetings / seminars.
- Submit quarterly reports to the Senior Management as well as relevant departments in the Head Office regarding the compliance programme which would incorporate findings and make recommendations for corrective action.
- Assist to investigate and report any breach of law or regulations to Management or relevant Head Office department where appropriate and follow up on management and resolution of the situation.
- Assist to analyse reports of suspicious transactions / activities and to consider whether such transactions needs to be reported under local requirements. Where necessary, assist to file suspicious transactions reports under local regulations.
- Assist to evaluate reported transactions which may have a sanctions related element and dispose appropriately.
- Assist to ensure that internal, external and regulatory findings and recommendations are acted on in a responsive, timely manner and that corrective action is effectively implemented.
- Maintain records of AML/CFT related compliance documents, materials etc.
- Act as backup/cover for non-AML/CFT compliance duties.
- Perform any other duties as assigned.