Job Purpose
- Review and analyze the alerts triggered in SAS as per the AML SOP within the stipulated TATs.
- Escalate the cases to Investigation Team as deemed necessary and/or as per the AML SOP within the stipulated TATs.
- Assist the Manager AML by providing a complete quality analysis for the reviewed cases.
- Highlight any key Financial Crimes risk throughout the review and analysis of customers’ account to the Line Manager and/or Head of Transactions Monitoring/delegate.
- Share innovative ideas for effective and efficient working.
Key Responsibility Areas
- Monitor SAS AML System and conduct appropriate reviews to facilitate closure of alerts or further investigation/reporting.
- Highlight any Compliance Policy breaches, Financial Crimes concerns or suspicions to Line Manager.
- Conduct AML enquiries/ investigations upon directives received from the Compliance Manager on an on-going basis.
- Assist Team Manager for all RCSA, QA and Audit observation with timely update in SAS notes and remedial follow up action.
- Handle referrals received from business units as per the bank’s policy, ensuring no breach of the applicable process guidelines.
- Complete the mandatory eLearning trainings and face to face trainings on time without fail.
- Record keeping:
- All analysis records must be maintained in SAS and shared drive.
- Adhere to record retention policy and the SOP guidelines.
Operating Environment, Framework and Boundaries, Working Relationships
- Possesses sound knowledge of banking practice & laws and Mashreq bank’s policies / procedures / systems & controls; operates in a strictly regulated, multi-jurisdictional environment and requires in-depth knowledge of local and international regulations regarding AML.
- Assist in maintaining pro-active relationships with business, facilitating timely involvement to ensure compliant solutions to business issues.
- Liaise with correspondent banks on their AML related EDD queries.
- Detailed Knowledge of the Bank’s AML/KYC policies and procedures.
- Clear understanding of business requirements in relation to KYC/AML/CFT/ABC/Fraud/Sanctions.
- Good understanding of main systems and their interaction/use (SAS, Side Viewer, Core Banking, …etc)
Problem Solving
- Analytical thinking and educative judgment on AML & CTF regulations, and their bank wide implementation.
- Highlight to the manager if any automated reports are required for betterment of the process.
- Clear understanding of business transactions, initiatives and relationship requirements with close coordination with relationship teams without losing focus on risk, regulations and control issues.
Decision Making Authority & Responsibility
Ability to assess the gravity and sensitivity of transactions, from AML perspective, and act accordingly – appropriate ‘decision-making’ ability is required.
Knowledge, Skills and Experience
- Graduate with 4 years of AML Transactions Monitoring.
- CAMS Certified/other recognized certification is a plus.
- Market knowledge of IT tools/ software used for AML monitoring system.
- Good knowledge and understanding of local AML/CFT rules and legislation, and international best-practices/requirements.
- Organizational awareness including working knowledge or risks, products, processes and controls.
- Computer literate with good knowledge of MS Excel and Business Object (BO) reports.
- Good command over spoken and written English.
- Team player, good communication and inter-personal skills.
- Adherer to timelines and ability to work under pressure.
- Customer Centric/Focus.
- Attention to details & quality.
- Analytical thinking.