The Compliance Anti Money Laundering Risk Management Officer is a senior professional level role responsible for establishing internal procedures to prevent money laundering and assist in all matters concerning financial crimes in coordination with the broader Anti-Money Laundering (AML) team.
The overall objective is to utilize established disciplinary knowledge to identify inconsistencies in data or result and formulate strategic recommendations on policies, procedures, and practices.
Know-Your-Customer Risk Evaluation Management (KYC REM)
Provide advisement and to perform risk evaluations in CitiKYC system in accordance to the KYC REM Global Desktop Procedures and relevant Policies and Standards for CitiKYC.
Identifying and escalating potentially significant issues or risks through internal escalation to Country / Regional REM (Level 2 review), as required.
Consulting and collaborating with the Business, AML Compliance Risk Management (ACRM) and other Compliance partners, as required.
To provide relevant training or local regulatory updates to KYC REM Level 0 team, Business and Business Support team to ensure they are in alignment with local regulatory and Citi KYC policies requirement.
Participation in UATs and projects / technology enhancement on CitiKYC system or updates to Country Variance / Smart form / FAQ.
To manage, track and ensure there are no ageing in KYC records.
Ensure that the KYC metrics e.g. REM volume metrics are completed and submitted timely.
AML Compliance Officer (AMLCO) support
Work closely with AMLCO on the day-to-day coordination and monitoring of AML & sanctions compliance based on policies, procedures, standards and guidelines set forth by Global, Sector, Regional, Country, local regulators, business and / or product.
Develop / Enhance and implement the country AML & Sanctions Programs which conform with global, regional & local regulatory standards & guidelines.
Assist in conducting AML investigations basis escalations received from Level 1 reviews and necessary regulatory reporting of Suspicious Transaction Reporting, if required
Maintain, disseminate and provide oversight on the Anti-Money Laundering Compliance Program, including sanctions, as required by the Policy.
This will include : the Enterprise Wide AML & sanctions risk assessments; practices, procedures & controls relating to account opening KYC procedures and ongoing account / transaction monitoring for detecting suspicious transactions / account activity and combating financing of terrorism, and a written AML / Sanctions training plan.
Managing the risk and control by ensuring the effectiveness of the AML monitoring Hub / system, Name Search, Suspicious Activity Reporting, Senior Public Figures monitoring and maintenance processes.
Participate in AML related Internal & External reviews, Compliance Assurance testings, where required.
Participate in self-assessment for AML Compliance department, review of business ratings relating to AML Compliance.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
Qualifications / Experience :
Strong knowledge of sanctions principles and associated laws and regulations
Familiarity with sanctions risks and typologies to identify products, services and business activities that may pose increased sanctions risk
Laws and regulations applicable to money laundering in Malaysia (AMLATFA). Knowledge of the Bank Secrecy Act (BSA), the USA Patriot Act, will be an added advantage
Understanding on the various AML / CFT guidelines issued by Bank Negara Malaysia, Labuan FSA & Securities Commission.
The Recommendations of the Financial Action Task Force on Money Laundering (FATF), including recent FATF Annual Reports.
Experience in Exam management will be a plus.
Graduate Degree from a recognized university (Accountancy, Banking, Business, Economics or Law) or relevant professional qualification in financial services or audit.
Post Graduate Degree is a plus.
Familiar with AML typologies and risks associated with banking.