Description

APAC FS AML Framework Officer (Vice President Grade) - This position is pivotal in ensuring our adherence to both regulatory requirements and internal policies concerning financial crime prevention. The officer will be responsible in maintaining a robust AML framework for CIB & WM activities, conduct risk assessments, and share inputs to enhance monitoring systems. The role also involves collaborating with various teams, supporting audits, and providing advisory support on AML/CTF matters. Additionally, they will be responsible for analyzing data to assess the effectiveness of the AML framework and preparing reports for senior management.

Responsibilities

Framework Development and Maintenance

1. Develop, implement, and maintain a robust AML framework tailored to the specific risks of CIB & WM activities, ensuring compliance with regulatory requirements and internal policies.
2. Regularly review and update AML policies and procedures to align with evolving regulatory expectations, business operations, and industry best practices.
3. Ensure that the AML framework incorporates a risk-based approach, prioritizing resources towards higher-risk activities and entities.
4. Identify opportunities for process enhancements within the AML framework to improve efficiency, reduce risk, and ensure compliance with best practices.

Risk Assessment and Mitigation

1. Coordinate with territory compliance to perform regular AML detection gap analysis, identifying vulnerabilities and proposing risk mitigation strategies.
2. Monitor and assess emerging risks, such as new financial products, geopolitical events, and evolving regulatory landscapes.
3. Recommend enhancements to controls, monitoring systems, and business processes to mitigate identified AML risks.

Transaction Monitoring and Control Implementation

1. Work closely with AML transaction monitoring teams to ensure that monitoring scenarios and thresholds are aligned with CIB & WM-specific risks and transactions.
2. Assist in the design and refinement of monitoring rules to capture suspicious activities, such as complex cross-border transactions, high-value trades, and correspondent banking.
3. Develop and maintain key control matrices for CIB & WM activities to ensure AML compliance across all business lines.

Cross-Functional Collaboration

1. Collaborate with other AML teams (e.g., Transaction Monitoring, Investigations, Sanctions), Legal, Compliance, Risk, and business units within CIB & WM to implement the AML framework effectively.
2. Serve as a liaison between CIB & WM business units and the broader AML function to ensure smooth communication, understanding of CIB & WM risks, and implementation of AML controls.

Audit and Regulatory Support

1. Prepare and provide support for internal audits and external regulatory reviews related to the CIB & WM AML framework.
2. Address and resolve audit findings, ensuring timely implementation of remediation plans and recommendations.

Data Analysis and Reporting

1. Analyze data to assess the effectiveness of the AML framework and provide insights for continuous improvement.
2. Prepare regular reports and dashboards for senior management on the performance and status of the CIB & WM AML framework, including key risk indicators and compliance metrics.

Project Coordination and Support:

1. Assist with the management of AML/CTF CIB & WM tools in APAC territories, including deployment, decommissioning, and ongoing maintenance.
2. Fine-tune CIB & WM automated AML monitoring tools (Actimize, Quantexa, etc.) to optimize their effectiveness, by closely working with the CEP L1 team.
3. Provide general support to the APAC Head of AML Adv., NAP & Corporate Coverage Compliance.
4. Provide advisory support to senior/regional management, Territory Compliance teams, businesses, and functions in the APAC region on complex AML/CTF matters
5. Provide advisory support on AML/CTF aspects on complex TAC/NAC
6. Coordinate and conduct training related to AML monitoring.

Requirements

1. Prior experience in Compliance and Projects on AML/CTF and Framework
2. Excellent communication skills and preferably with some experience of dealing in multiple countries in Asia Pacific.
3. Able to operate independently and with initiative, taking ownership of tasks and larger projects, as appropriate.
4. Able to work collaboratively as a part of a team, and to connect and engage well with business and other functions, whether in person or remotely.
5. An understanding of the fundamental AML/CFT/Sanctions laws, regulations and suspicious reporting standards.