AVP- Customer Due Diligence

Job Description

JOB PURPOSE: The objective of this role is to review and monitor high risk activities in the AML team and perform investigations applying a risk-based approach.Assist the Customer Due Diligence (CDD) unit within Financial Crime Compliance (FCC) to:1. Review and approve new to bank (NTB) high risk / sensitive relationships from Compliance2. Review and approve KYC refresh for high risk / sensitive relationships (periodic as well as trigger based) from Compliance standpoint3. Provide FCC advisory support to business covering areas related to AML, Sanctions and AB&CKEY ACCOUNTABILITIES: Job Specific AccountabilitiesSupport VP, CDD team with the following activities

• Develop the framework of CDD area which includes designing policies, procedures, systems in order to complete the CDD/EDD process and creating awareness regarding the AML function
• Stay abreast of related laws, rules, regulations and best practices pertaining to the financial crime world.
• Review and respond to due diligence / AML queries involving very high risk parameters for the Personal Banking and Corporate and Investment Banking segment.
• Provide SME advisory to the business, support functions, international branches and subsidiaries on Customer due diligence matters
• Develop and deliver focused training to FLOD and Businesses on performing customer due diligence and enhanced due diligence
• Identify AML related issues within the businesses and ensure material risks are reported on a monthly basis to appropriate governance forums ? BRCC, Compliance Committee etc
• Ensure issues identified by Group Internal Audit (GIA) are closed in a timely manner with proper resolution
• Provide expertise and support to Monitoring and Assurance team to enable them to conduct effective reviews and test for the CDD/EDD space
• Enhance Governance and assist Businesses, FLOD, Risk & Control and International locations develop their framework
• Identify opportunities for technological advancements and simplification of processes
• Ensure Compliance expertise is provided in activities related to data migration into new systems identified
• Work alongside Compliance technology to ensure necessary budget approvals are obtained for driving processes and regulations using technology
• Provide adequate support to stakeholders on regulation and policy interpretation
• Build and maintain good relationships with businesses to create a seamless environment culture
• Support in execution and program management of financial crime related projects as per the project guidelines set by the compliance governance department.
• Prepare responses to the AML questionnaires requested by correspondent banks.
• Assist with any ad-hoc tasks that may be assigned by Line Manager or MLRO
• Conduct review and testing of the customer risk assessment model and rating methodology.
• Prepare dashboards and ensure reporting is performed in a timely and accurate manner.
• Ensure bi-annual reporting takes place with the regulator in the form of MLRO report
• Support in execution and program management of financial crime related projects as per the project guidelines set by the head of the department.
• Review Very high risk case proposals that get referred to Group CDD team for due diligence purposes.
• Prepare a comprehensive summary of the case by adding necessary recommendations and risk mitigations
• Review and advise on the risks identified during CDD reviews related to sanctions nexus, adverse media, PEP and positive/true matches on FAB?s internal watch lists. If there are any concerns that are identified (example sanctions nexus or any other compliance reason), obtain feedback/concurrence from related Compliance team such as Sanctions Advisory team etc
• Ensure to properly document the approval rationale with risk & controls team/business during case approvals
• Ensure the cases rejected are accurately and promptly updated in the CDD rejection log
• Update the deferral tracker for all the cases approved on deferral and ensure necessary follow ups and escalations are made on time in order to close the deferrals
• Ensure to update the status update sheet and additional tasks sheet on a daily basis

• Bachelor?s degree or higher in management, banking, finance, preferably with certification in compliance, KYC/AML/CFT or financial crime

• Minimum of 5 years of experience within the AML/CDD unit.

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