Head of Anti-Money Laundering & Fraud Operations

GXS BANK PTE. LTD.; Pasir Panjang; On-site; MYR 180,000 - 250,000; Full time

Job summary

A prominent banking institution is looking for a Head of AML & Fraud Operations in Negeri Sembilan, Malaysia. The role involves overseeing compliance with AML regulations, leading a team, and implementing effective fraud prevention strategies. Candidates should have significant experience in financial crime, strong leadership skills, and a comprehensive understanding of regulatory requirements. The organization offers a strategically vital position with potential for innovation and compliance excellence.

Qualifications

• Minimum 15 years experience in AML, Sanctions or Financial Crime.
• At least 5 years in a leadership role in operations.
• Strong understanding of regulatory requirements.

Responsibilities

• Act as liaison for Operations with Compliance and Risk Management.
• Collaborate with Technology, Risk, and Business teams.
• Drive continuous improvement of AML/Sanctions-related controls.
• Manage staffing, training, and development of team members.
• Ensure quality and compliance with AML and Fraud policies.
• Report on the compliance program's effectiveness.

Skills

Leadership

Risk management

Analytical skills

Communication

Interpersonal skills

Education

Bachelor's degree in Business, Finance, Law, or related field

AML/Compliance certifications

Job description

About the team

The AML & Fraud Operation team sits in the Group Operations function.

It is responsible for ensuring that the bank complies with all relevant anti-money laundering (AML), sanctions and other regulations. The team works on various projects to enhance the bank's compliance framework and strengthen fraud detection & prevention, leveraging the latest technology and data analytics to identify and mitigate risks.

Job Overview/About the job role

The Head of AML & Fraud Operations is responsible for overseeing the first line of defense in AML and Fraud Operations, ensuring effective and timely execution of client due diligence, transaction monitoring, alert handling, sanction screening and fraud investigations.

This role leads a team of professionals in Singapore and oversees a shared services centre in ensuring compliance with internal policies, regulatory expectations and industry best practices.

This leader will lead the development and implementation of the bank's AML and Fraud program. This role requires a strategic thinker with strong leadership skills and a deep understanding of regulatory requirements.

Responsibilities and Duties

• Act as the primary liaison for Operations with second line Compliance team & Risk Management on AML/Sanctions-related matters and Fraud-related matters respectively
• Collaborate with Technology, Risk, and Business teams to enhance AML/Sanctions-related and Fraud-related system capabilities and controls
• Drive operational strategy and continuous improvement initiatives across Fraud and AML/Sanctions-related controls and processes.
• Ensure appropriate staffing, training, and development to maintain high performing team with strong AML & Fraud domain expertise
• Develop and implement the bank's AML and Fraud program.
• Develop and implement operational controls and procedures to ensure quality, consistency, and compliance with AML and Fraud policies.
• Lead a team of compliance professionals, providing guidance and support.
• Manage the review and disposition of alerts related to transaction monitoring, name screening, payment and fraud screening detection.
• Ensure timeline escalation of potential suspicious activity to Compliance for further review or SAR (Suspicious Activity Report) / STR (Suspicious Transaction Report) filing as necessary
• Collaborate with other departments to ensure a cohesive approach to compliance.
• Stay up-to-date with regulatory changes and industry best practices.
• Report on the effectiveness of the AML and sanctions compliance program to senior management.

Qualifications/Skills

• Bachelor's degree in Business, Finance, Law, or a related field. AML/Compliance certifications preferred.
• Minimum 15 years experience in AML, Sanctions or Financial Crime, with at least 5 years in leadership role in operations
• Excellent risk and control mindset with operational excellence.
• Strong understanding of regulatory requirements and industry best practices.
• Excellent leadership and team management skills.
• Strong analytical and problem-solving abilities.
• Effective communication and interpersonal skills.
• Ability to work collaboratively with other departments and stakeholders.