Compliance Officer - AML OFFICER

ALLBANK (A THRIFT BANK), INC.; Mandaluyong; On-site; PHP 1,200,000 - 2,000,000; Full time

Job summary

ALLBANK (A THRIFT BANK), INC. is seeking an AML and Fraud Compliance Officer in the Philippines to oversee regulatory requirements of AML and Fraud Units and support the Chief Compliance Officer in implementing the AML Compliance Program.

The role involves monitoring suspicious activities, updating watchlists, preparing CTR reporting, and training staff on BSP/AMLC regulations. The position also covers maintaining the MTPP, conducting training sessions, and coordinating with BSP during

Responsibilities

• The AML Officer handles monitoring of suspicious activities and transactions.
• Flags and monitors high-risk accounts and updates watchlists.
• Reviews transaction monitoring reports and escalates suspicious activity to AML Com.
• Prepares daily CTR reporting to AMLC and supports data uploads of Suspicious Transactions.
• Maintains and updates the Money Laundering and Terrorist Financing Prevention Program (MTPP).
• Conduits AML training for staff and disseminates BSP/AMLC guidelines.
• Monitors BSP/AMLC updates and communicates them to relevant personnel.
• Supports BSP Examiners during examinations and responds to AML queries.

Job description

JOB SUMMARY

The AML and Fraud Compliance Officer handles the regulatory and internal requirements of AML and Fraud Units and supports the Chief Compliance Officer in the implementation of AML Compliance Program for the Bank.

DUTIES AND RESPONSIBILITIES

1. AML OFFICER

2. Ensures efficient identification and monitoring of suspicious activities and transactions of the clients/customers/OPS/Merchants.

3. Flags and monitors high risk accounts and manages watchlist database updating and scrubbing.

4. Reviews disposition of transaction monitoring reports and elevates any suspicious transaction to the AMLCom.

5. Prepares or checks the daily reporting of CTR to AMLC and assists his/her staff for details and uploading of Suspicious Transactions, as needed.

6. Reviews and updates as necessary the Money Laundering and Terrorist Financing Prevention Program (MTPP) policies and procedures.

7. Conducts AML Training/Seminar and cascades regulations of the BSP and AMLC concerning AML matters to all concerned personnel of the Bank.

8. Checks the AMLC website on a daily basis to see if there are updates. Disseminates updates to all concerned.

9. Assists in the preparation of the requirements related to AML as well as answering the queries of the Bangko Sentral ng Pilipinas (BSP) Examiners concerning AML procedures of the Bank in the conduct of their regular or special examination.

10. Reviews and updates the existing Compliance Testing Program Guide to ensure that they capture all pertinent laws, rules and regulations and existing policies, processes and controls.

11. Attends AMLACom meeting and presents AML reports to the AMLACom/Corporate Governance Committee and if necessary, to the Board.

12. FRAUD OFFICER

13. Proactively leads in the oversight of Fraud Risk Management Program using data extraction, data analytics and management reporting by collecting, monitoring, and analyzing transactions from all channels (ATM, Fund Transfer, Online Banking Transactions, etc.).

14. Identify and monitor fraud risks within the organization and implements automated and real-time fraud monitoring and detection systems to identify and block suspicious or fraudulent online transactions.

15. Analyzes activity to detect and prevent fraudulent activity based on reports, alerts, or notifications from third parties requesting assistance.

16. Maintains Fraud Database and recommends fraud risk controls.

17. Contributes to the development and implementation of Fraud Risk processes, tools, policies, and standards.