AML Compliance Role - Banking

AML COMPLIANCE-BANKING

The Compliance Department 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 Reserve Bank of India and other regulatory of India:

The Compliance Department achieves this by:

- Setting out the relevant regulatory requirements and expectations that the Bank must comply with Reserve Bank of India (RBI) and other statutory regulators requirements, captured in the Bank's Obligations Register which then maps these to the Bank's policies, procedures and processes (including 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 required (e.g. on a client, product or transaction basis).

- Ensuring that appropriate training is given to all relevant staff on the Banks policies and procedures.

- Undertaking periodic, risk based, Compliance testing, Compliance Monitoring to ensure the Bank's transactions, policies and procedures are being complied with the regulatory requirements and escalates to management significant non-compliance.

- Managing the AML alert investigation process arising from the key Compliance systems and making the necessary escalations to management and disclosures to the relevant authorities.

- Responding to all regulatory requests to review and provide relevant information (e.g. customer, transaction, policy, procedure, and training, compliance monitoring and process details) or cooperation in a timely manner.