AVP- Customer Due Diligence

19 سبتمبر، 2022

0 4 3 دقائق

Job Description

Job Description
JOB PURPOSE:
The objective of this role is to review and monitor high risk activities in the AML team and perform investigations applying a risk-based approach.
Assist the Customer Due Diligence (CDD) unit within Financial Crime Compliance (FCC) to:
1. Review and approve new to bank (NTB) high risk / sensitive relationships from Compliance
2. Review and approve KYC refresh for high risk / sensitive relationships (periodic as well as trigger based) from Compliance standpoint
3. Provide FCC advisory support to business covering areas related to AML, Sanctions and AB&C
KEY ACCOUNTABILITIES:
Job Specific Accountabilities
Support VP, CDD team with the following activities

Develop the framework of CDD area which includes designing policies, procedures, systems in order to complete the CDD/EDD process and creating awareness regarding the AML function
Stay abreast of related laws, rules, regulations and best practices pertaining to the financial crime world.
Review and respond to due diligence / AML queries involving very high risk parameters for the Personal Banking and Corporate and Investment Banking segment.
Provide SME advisory to the business, support functions, international branches and subsidiaries on Customer due diligence matters
Develop and deliver focused training to FLOD and Businesses on performing customer due diligence and enhanced due diligence
Identify AML related issues within the businesses and ensure material risks are reported on a monthly basis to appropriate governance forums – BRCC, Compliance Committee etc
Ensure issues identified by Group Internal Audit (GIA) are closed in a timely manner with proper resolution
Provide expertise and support to Monitoring and Assurance team to enable them to conduct effective reviews and test for the CDD/EDD space
Enhance Governance and assist Businesses, FLOD, Risk & Control and International locations develop their framework
Identify opportunities for technological advancements and simplification of processes
Ensure Compliance expertise is provided in activities related to data migration into new systems identified
Work alongside Compliance technology to ensure necessary budget approvals are obtained for driving processes and regulations using technology
Provide adequate support to stakeholders on regulation and policy interpretation
Build and maintain good relationships with businesses to create a seamless environment culture
Support in execution and program management of financial crime related projects as per the project guidelines set by the compliance governance department.
Prepare responses to the AML questionnaires requested by correspondent banks.
Assist with any ad-hoc tasks that may be assigned by Line Manager or MLRO
Conduct review and testing of the customer risk assessment model and rating methodology.
Prepare dashboards and ensure reporting is performed in a timely and accurate manner.
Ensure bi-annual reporting takes place with the regulator in the form of MLRO report
Support in execution and program management of financial crime related projects as per the project guidelines set by the head of the department.
Review Very high risk case proposals that get referred to Group CDD team for due diligence purposes.
Prepare a comprehensive summary of the case by adding necessary recommendations and risk mitigations
Review and advise on the risks identified during CDD reviews related to sanctions nexus, adverse media, PEP and positive/true matches on FAB's internal watch lists. If there are any concerns that are identified (example sanctions nexus or any other compliance reason), obtain feedback/concurrence from related Compliance team such as Sanctions Advisory team etc
Ensure to properly document the approval rationale with risk & controls team/business during case approvals
Ensure the cases rejected are accurately and promptly updated in the CDD rejection log
Update the deferral tracker for all the cases approved on deferral and ensure necessary follow ups and escalations are made on time in order to close the deferrals
Ensure to update the status update sheet and additional tasks sheet on a daily basis

Qualifications
Minimum Qualification
. Bachelor's degree or higher in management, banking, finance, preferably with certification in compliance, KYC/AML/CFT or financial crime
Minimum Experience
. Minimum of 5 years of experience within the AML/CDD unit.