Intro: Job Overview
The AML Compliance Officer/Manager has the responsibility of managing and maintaining the organization’s obligations as it relates to the supervision and reporting of money laundering activities.
He/she will be responsible for designing, evaluating, supporting, and influencing a culture of compliance throughout the organization, as well as assisting in the management and execution of an efficient compliance monitoring program.
Anti-Money Laundering Compliance Officer/Manager Job Responsibilities
Responsibilities include but are not limited to:
- Assist with the development and management of a compliance sign-off process for each department
- Assist in the development of compliance initiatives and programs to comply with the respective legal, licensing, and regulatory obligations
- Provide assistance in preparing for impending regulatory changes or revisions to licensing structure
- Handle the management and execution of second line monitoring and assessment program for Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF)
- Improve and maintain AML/CTF policies and procedures
- Ensure compliance with regulatory framework put in place by local and international stakeholders
- Aid in the improvement of tools to monitor, analyze, and report suspicious activity
- Handle file reviews of suspicious activity to ensure compliance with the policies and procedures put in place
- Identify and inform of any changes to legislation and other regulatory requirements relating to AML/CTF
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- Aid in the design, development, and implementation of a risk assessment framework to support all customer interactions
- Provide oversight to the operational team, which acts as the first line monitors and investigators of suspicious activity
- Ensure consistent and timely feedback on cases that have been escalated
- Liaise with management to develop investigative strategies
- Develop and participate in compliance programs and initiatives
- Provide relevant compliance reporting to ensure the completion and proper analysis of suspicious activity reports that have been conducted
- Ensure detailed and prompt investigation of all AML/CTF incidents and cases
- Manage the resolution of cases through internal and external communications
- Help with identifying any AML/CTF loopholes and coordinating projects to bridge those gaps
- Maintain a proper register of all incidents reported internally and externally
- Develop and execute face-to-face training for staff in various business units as required
- Aid in general compliance awareness and refresher training
Reports to Whom
Generally, the Anti-Money Laundering Compliance Officer/Manager reports directly to the Chief Risk Officer.
Anti-Money Laundering Compliance Officer/Manager Qualifications
- Degree in a law or business discipline
- 3-5 years’ experience working in finance
- Experience developing and implementing compliance programs
- Team player with the ability to work unsupervised
- Exceptional analytical and investigative skills
- Strong project management skills
- Experience in auditing a distinct advantage
- Willingness to work on various compliance issues
- Must be able to adapt to working in a fast-paced environment
- Excellent verbal and written communication skills
- Exceptional presentation skills
- Strong organization skills and attention to detail
- Proficient in Microsoft Office Suite (Word, Excel, Project, PowerPoint)
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