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Posted in
Banking & Finance
Job Code
1460650
15 years in the banking or financial services, out of which minimum 5 years shall be in the Audit / Finance / Compliance / Legal / Risk Management functions;
Broad Job description
- RBI / NSDL / SEBI / IRDA / FIU / IBA / BCSBI circulars: Interpret, disseminate and ensure compliance with requirements of relevant regulatory bodies;
- To identify changes in applicable rules, regulations, standards and related trends that are relevant to the Compliance Program ;
- To respond promptly to alleged violations of rules, regulations, and policies, procedures and the Code of Ethics and Conduct that arise;
- To embed the compliance risk assessment program in the region and facilitate the systematic assessment of compliance risks in the assigned region in order to identify gaps and manage compliance risks;
- To manage the due diligence process identify compliance risks associated with third parties acting on behalf of a business or function within the group of companies;
- To supervise the compliance system in the branch;
- To act as local AML Officer;
- To act as Chief Compliance Officer of the Bank
- Regulatory audit & inspection: To coordinate during annual & quarterly financial inspections and surprise & incognito visits at Head office/Branch. Report the exceptions to Senior Management, follow-up and ensure closure of open points;
- Regulatory reporting: Automate, maintain & update and report fortnightly the delays & exceptions to Senior Management;
- To vet and prepare all the procedure manuals & policies of the bank from regulatory prospective;
Product & Process review
- To monitor branch compliance with laws and regulations relating to Anti Money Laundering ( AML)/Combating Financing of Terrorism (CFT)/Sanction and to report breaches to management;
- To Perform Customer Due Diligence and Enhanced Due Diligence for new (client on-boarding) and existing clients in accordance with AML/CFT/Sanctions framework;
- To perform research and intelligence - gathering on sanctions and analyzing customer profiles for sanctions risk;
- Periodic monitoring of the observation of laws, regulations and rules in the Branch;
- To conduct initial reviews and due diligence of new correspondent banks relationship and periodical reviews of Financial Institutions;
- To implement & Compliance with AML policies & guidelines issued by local and Head office regulators;
- Timely execution of instructions received from Head Office and/or the Reserve Bank of India(RBI)/Financial Intelligence Unit (FIU-IND) /Indian Banking Associations (IBA);
- To review all new products/services launched by the branch from AML/KYC/Sanctions risk view point;
- Risk Categorization of customers based on local and HO regulations (High ,Medium and Low);
- To provide Compliance approval to politically exposed (PEP) customers after enhanced due diligence;
- Effectively Contribute in developing training materials as per global standards and local group and local policies and requirements;
- To review, investigate and analyse Personal Account Dealing (PAD), Gifts & Entertainment, Conflict of Interest;
- Application of knowledge of Extra Territorial Regulations (FATCA, Dodd Frank Act, Volker Rule, UK Bribery Act, FCPA, etc.);
- Application of knowledge Global AML Regulations
- Query resolution: To address internal queries on KYC, AML & CFT or any other issue;
- Approvals: To put up amendments to the KYC AML policy for approval on a quarterly basis;
- Senior Management approvals: Summarize, follow-up for approvals on STR and on replies to statutory, regulatory & judicial notices or queries from EOW, CBI, ED, SFIO, DRI etc.;
- Money laundering and reputation risk mitigation: To advice and assist Senior Management and internal departments & control units to identify, contain and minimize relevant risks. Lay down, review and evaluate policies, procedures, practices and products to address the relevant risks;
- To document the review of alerts ( both suspicious and non-issue) by recording results in the alert management system;
- To conduct screening of trade transactions from Trade Based Money Laundering Perspective and file SARs;
- To prepare periodic and ad-hoc AML and economic sanctions metrics reports for regulators, senior compliance management, the Global Compliance Committee and the Board Audit Committee, including through the evaluation and enhancement of existing metrics and supporting processes;
- Primary point of contact for all transactions surveillance issues & customers with negative hit/news report;
- Monitoring of High Risk Accounts ;
- Due Diligence on stopped SWIFT messages in Sanction Filtering System of the bank, Investigate, review and resolve the Sanction Hits (False Positive/ True);
- Sanction Compliance Due Diligence performed on Trade Transactions (Export/Import/LCs) to ensure Compliance with applicable sanctions laws and regulations;
- To perform Sanction screening using (Vessel Flagship, Ownership, Vessel movement, bunkering activity etc.), and Public/Internet Database to ensure sanction Compliance;
- To advise business and operations on all Sanctions issues from time to time;
- Assist in implementing OFAC/Sanctions initiatives including quality assurance, policy reviews and advising on establishing screening procedures within the businesses;
- Imparting training on Compliance - Voluntary and Mandatory;
- Anti-Money Laundering, AML in Practice and Compliance, Risk and Governance
- Customized OFAC training, Ethics and Code of Conduct, Gifts and Entertainments, Insider Trading etc.;
-To ensure analysis, review & timely reporting on
- CTR, STR and NPO reports; Large cash & cash intensive accounts, PEP accounts, minors & senior citizen accounts, newly opened accounts and accounts with notice from statutory, regulatory or judicial authorities; Exchange House remittances; Bulk cheque, RTGS & NEFT issuance requests;
- Automation, UAT testing and signoff on transaction reports and regulatory returns;
- To conduct Management committee meetings and preparation of minutes on regular intervals;
- To conduct vigilance committee meetings and preparation of minutes on regular intervals;
- Taking proper and timely action against any violation of laws, regulations and rules in accordance with internal procedures;
- To coordinate with concurrent auditor/ RBI/ external auditors as and when the inspection are undertaken by them an follow the execution of their report by all the departments;
- To watch the due dates for reporting required by Reserve Bank of India / Head Office and to ensure all the staff to keep the due dates;
- To deal with Govt., Semi Govt. authorities and also attending hearings before the collector and other authorities (as and when required);
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Posted By
399
JOB VIEWS
107
APPLICATIONS
26
RECRUITER ACTIONS
See how you stand against competition
Pro
View Insights
Posted in
Banking & Finance
Job Code
1460650
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