FCRM Project
Job Description
Job Description
Compliance Officer, Compliance Systems, M grade
Department Description:
The Compliance Organisation Unit is responsible for ensuring that the Bank complies with all relevant external laws and regulations applicable in the various jurisdictions that the Bank operates in Significantly this includes compliance with Sanctions Anti Money LaunderingAML and Counter Terrorist FinancingCTF requirements not only of the countries that the Bank operates in but increasingly there is an expectation of compliance with those of key US and EU regulators
Brief Description:
Setting out the relevant regulatory requirements and expectations that the Bank must comply with in an Obligations Register which then maps these to the Banks policies procedures and processesincluding systems
Working with the business to monitor and set appropriate policies procedures and processes to ensure compliance with regulatory requirements expectations and industry best practices
Providing official written and informal guidance and advice on Compliance matters to the respective businesses as and when requiredeg on a client product or transaction basis
Ensuring that appropriate training is given to all relevant staff on the Banks policies and procedures This includes the provision of training on key policies and procedures such as Sanctions AML and CTF
Undertaking periodic risk based Compliance Monitoring to ensure the Banks policies and procedures are being complied with and escalates to management significant noncompliance
Detailed Description:
The AML transaction monitoring system is used to identify and protect the institution from any transaction that may lead to Money Laundering or Terrorist Financing This system uses sophisticated technologies which are highly configurable and can be tuned to reflect ENBDs policies and risk appetite to improve effectiveness and reduce false positives The Detection Scenarios Tuning Officer is responsible for optimizing the Group Compliance AML Transaction Monitoring softwares effectiveness and efficiency by reducing false positives while improving the conversion ratio of alerts generated vs suspicion activity reports filed with regulators This resource will also perform the following activities for tuning the AML Transaction Monitoring system
Developing threshold setting methodologies based on statistical modelseg Normal Distribution or Jump Analysis
Subdividing customers into segments using statistical tools including conjoint analysis and clustering algorithms
Modelling detection scenarios and testing thresholds with statistical toolseg R SAS and Python
Verifying that data mapping and thresholds are complete and fit for purpose
Reducing the volume of false and lowquality alerts using alerts analysis and data mining
Tracking logging and escalating issues to the senior management
Documenting tuningrelated activities and presenting corresponding reports
Setting up governance around tuning activities
Applying risk based thresholds for all detection scenarios across all locations
Analyzing machine learning model outputs and apply corresponding learnings for better quality alerts
Qualifications
Job Requirements:
Modelling of detection scenarios using methods such as Percentile Distribution and Jump Analysis
Testing and validation of the methodology
Documentation of methodology
Training of other analysts on methodology
Aligning thresholds with risk tolerance
Design and implementation of process to reduce low quality alerts based on historical data
Data mining using techniques such as regression classification trees and neural networks to identify low quality alerts
Identify segments using conjoint analysis and clustering algorithms
Monitor performance of segments and advise changes
Modelling using kmeans hierarchical distribution analysis
Liaise with IT EDW and Fiserv to implement new customer segments
Documentation of methodologies thresholds and segmentation
Documentation of decision making process
Maintenance of audit trails
Additional Details:
1 Strong knowledge on reducing false positives for AMLCFT alerts
2 Strong knowledge on improving quality of AMLCFT alerts
3 Knowledge of Transaction Monitoring FATCA and CRS alerts system
4 Basic knowledge of AML typologies
5 Understanding of banking products and operations
6 Understanding of compliance products and processes
7 Basic knowledge of compliance monitoring and screening system
1 Experience building statistical models ie classification regression clustering etc
2 Strong knowledge of SAS Enterprise Guide
3 Strong data mining and text analytics skills
4 Strong data collection and analysis skills
5 Basic knowledge of SAS Eminer
6 Understanding of banking products and processes
7 Experience with FiServ or similar AML Transaction Monitoring tools
8 Advanced excel knowledge
1 Analytical skills structured thinking and problem solving skills
2 Ability to work under pressure
3 Decision making skills
4 Stakeholder management skills
5 Should be pragmatic Innovative and quick learner
6 Team player and ability to work in multicultural environment
7 Ability to present ideas and achieve consensus
8 Strong written and oral communication and inter personal skills
Job Details
Employment Types:
Full time
Industry:
Banking / Accounting / Financial Services
Function:
IT , IT- Hardware / Telecom / Technical Staff / Support
Roles:
Project Leader / Project Manager
