Head - Anti Money Laundering - Financial Services

Head - Anti Money Laundering

Hiring for Finance company based out at Kerala.

Job Title : Head- Anti Money Laundering (AML)

Purpose of the Role :

AML Compliance Measures :

- Screening against Sanctions Lists : Screen customers and transactions against international sanctions lists to identify and prevent business dealings with individuals or entities subject to sanctions.

- Customer Due Diligence (CDD) : Conduct thorough customer due diligence to assess the risks associated with specific clients. This involves understanding the nature of the customer's business, the purpose of the relationship, jurisdiction of business, country of operations and monitoring transactions for unusual activities.

- Transaction Monitoring : Establish systems for continuous monitoring of transactions to detect and report any unusual or suspicious activities. Implement automated tools to flag transactions that deviate from regular patterns.

- KYC (Know Your Customer) Procedures : Implement robust KYC processes to verify and authenticate the identity of customers. This includes collecting necessary documentation, conducting background checks, and maintaining up-to-date customer information.

- Record Keeping : Maintain detailed records of customer transactions, account information, and due diligence efforts. Ensure that these records are easily accessible for regulatory reviews and audits.

- Risk-Based Approach : Adopt a risk-based approach to AML compliance, tailoring the level of due diligence and monitoring based on the perceived risk associated with specific customers, products, services, and geographic locations.

- Periodic Audits and Reviews : Conduct regular internal audits and reviews of AML processes to identify any deficiencies or areas for improvement. External audits may also be beneficial to provide an independent assessment.

- Technology Solutions : Leverage technology solutions, such as anti-money laundering software, to enhance the effectiveness and efficiency of compliance processes, including transaction monitoring and risk assessment.

- International Cooperation : Collaborate with regulatory bodies and law enforcement agencies on both national and international levels. This includes sharing information and best practices to combat cross-border money laundering activities.