Retail AML and Sanctions Risk Analyst

Job Description - Retail AML and Sanctions Risk Analyst (250000MN)

JOB DESCRIPTION:

1. Conduct risk assessment and due diligence for new accounts to identify potential vulnerabilities related to AML and Sanctions Risk.
2. Perform regular review of accounts arising from periodic reviews (PR) and triggering events (TER).
3. Analyse challenging or high-risk retail account update/EDD situation and make appropriate recommendations to management to maintain or exit existing relationship.
4. Review Daily Name Screening hits assessment from Centre of Excellence Team (COE) and ensure that name screening and risk scoring for retail account KYC/CDD, account updates and Level 2 assessment of name hits are in line with SOP.
5. Liaise with relevant stakeholders and Trade representatives to obtain additional information or documents such as source of wealth/source of funds to facilitate timely review of TER/EDD/PR, retail account updates and assessment of name hit alerts.
6. Manage AML related account exit in a timely manner.
7. Prepare and file suspicious activity reports and other regulatory reports as necessary.
8. Document findings from investigations and create report for management.
9. Ensure the relevant checks/screening are performed for the Enhanced Customer Due Diligence (EDD).
10. Assist in the development and implementation of internal AML policies, procedures and training programs.
11. Recommend effective risk mitigating strategies for senior management consideration.
12. Ensure proper governance through updating senior management in meetings on a regular basis.
13. Ensure compliance to audit/compliance issues through maintenance, update & revision of policies and procedures in the AML/CFT & Sanctions Risk procedural manuals.
14. Conduct gap analysis and take necessary actions to resolve identified gaps and align the procedures, practices, and standards with Group Policies.
15. Conduct training regularly on AML typologies and changes in procedures/policies to team members.

JOB SPECIFICATION / QUALIFICATION:

1. Related working experience of at least 5 years.
2. Excellent understanding of relevant AML/CFT laws and regulations.
3. Communicates well and able to present and conduct AML training company-wide.
4. Possess strong analytical and problem-solving skills with excellent verbal/written communication and interpersonal skills.
5. Able to communicate effectively through writing.
6. Able to directly address conflicts and escalate issues where appropriate.
7. Preferably possess certification in AML related Diploma / ACAMS.