AML Specialist

Overview:

The AML Specialist will support the Chief Compliance Officer (CCO) in implementing and monitoring the Bank's Anti-Money Laundering and Counter-Terrorism/Proliferation Financing (AMLCTPF) program. This role involves overseeing the Bank's compliance with AMLCTPF regulations, managing suspicious transaction reports, conducting risk assessments, and ensuring staff awareness through training.

Key Responsibilities:

• Money Laundering and Terrorism/Proliferation Financing Prevention Program (MLTFPP) Manual
• Review and update the Bank's MLTFPP Manual annually or as needed to ensure compliance with applicable laws and regulations.
• Coordinate with relevant departments regarding updates and changes.
• Present the updated manual to the Audit Committee and Board of Directors for approval.
• Ensure Board-approved MLTFPP Manual is communicated across all Bank units.
• AMLCTPF-related Policies and Guidelines
• Develop and update AMLCTPF-related policies and guidelines as necessary to support the implementation of the MLTFPP.
• Coordinate the development and dissemination of policies and guidelines to the concerned departments.
• Present policies and guidelines to the Audit Committee and Board of Directors for review and approval.
• Ensure Board-approved policies and guidelines are communicated to all relevant Bank units.
• Alert Management and Monitoring of Suspicious Transactions
• Notify business units promptly about the timely and accurate management of alerts.
• Monitor transactions and accounts for potential suspicious activities, both flagged by the business units and the electronic AML monitoring system.
• Gather relevant information and documents for further investigation into suspicious transactions.
• Prepare detailed reports on possible suspicious transactions based on investigation results.
• Escalate suspicious transactions to the AML Committee for review and final decision.
• Submit Suspicious Transaction Reports (STRs) to the AMLC via the Bank's AML System and AMLC Portal for transactions deemed suspicious by the AML Committee.
• Maintain a comprehensive database of STRs filed with the AMLC.
• Keep detailed records of customers under review for suspicious transactions.
• Provide information to the Compliance Testing Unit regarding STR-related issues during testing.
• Covered Transaction Reports (CTR)
• Ensure timely completion of manually encoded covered transactions by the Business Units using the CTR maker and checker.
• Verify that all incomplete covered transactions in the AML System are provided with mandatory information.
• Notify relevant business units regarding the timely and accurate completion of covered transactions.
• Provide business units with a list of CSV files of CTRs submitted to the AMLC.
• AMLCTPF Awareness Training
• Review and update the AMLCTPF training program annually or as needed to ensure regulatory compliance.
• Present the updated training program to the Audit Committee and Board of Directors for approval.
• Design tailored training modules specific to each employee's function within the Bank.
• Update training modules regularly to ensure effective implementation of the awareness program.
• Devise questionnaires to assess employee awareness regarding the Bank's MLTFPP.
• Utilize the PTC EduCenter System for conducting ongoing training and briefings.
• Maintain and update the PTC EduCenter System as necessary.
• Disseminate weekly AMLCTPF-related "TidBits" to Bank units.
• Correspondent Banking Compliance
• Prepare responses to queries from Correspondent Banks.
• Provide responses to the International Department regarding SWIFT KYC requirements.
• Prepare required KYC documents, including certifications related to Correspondent Accounts for Foreign Banks (USA Patriot Act), W-8BEN-E forms (FATCA), and Wolfsberg Group's Correspondent Banking Due Diligence Questionnaire (CBDDQ).
• AML Institutional Risk Assessment (IRA)
• Develop and maintain a methodology for conducting the AML Institutional Risk Assessment, aligned with the Bank's business model.
• Coordinate with Bank Units to gather necessary data and information for IRA preparation.
• Consider national and international risk assessments, as well as new laws and regulations, in the IRA process.
• Present the results of the IRA to the Audit Committee and Board of Directors for approval.
• Incorporate IRA findings to enhance the Bank's MLTFPP Manual and communicate any updates to all concerned Bank units.
• Internal Screening Database Management
• Develop and maintain an internal screening database, tracking entities related to suspicious transactions, crimes, terrorism, and various compliance alerts (e.g., SEC Advisories, freeze orders, etc.).
• Regularly update the internal screening database as necessary.
• Conduct regular scrubbing of the customer database against the internal screening list.
• Communicate the results of the scrubbing process to relevant Business Units.
• Enhancement and Updates to AML Electronic Monitoring System
• Develop a User's Manual detailing the system's functionality and ensure users are trained accordingly.
• Calibrate alert scenarios and parameters to optimize the generation of meaningful alerts.
• Ensure that covered transactions are complete and reported as required.
• Review and update the system's aggregation functionality as needed.
• AML Surveys and Reporting
• Facilitate responses to BSP and AMLC AML/CTPF surveys and ensure timely submission of requested data.
• Other Functions
• Perform additional duties as assigned by the Chief Compliance Officer.

Job Types: Full-time, Permanent

Benefits:

• Company Christmas gift
• Company events
• Discounted lunch
• Free parking
• Health insurance
• Life insurance
• On-site parking
• Opportunities for promotion
• Paid training
• Pay raise
• Promotion to permanent employee

Ability to commute/relocate:

• Manila Central Post Office 1000 P00: Reliably commute or planning to relocate before starting work (Preferred)

Application Question(s):

• What is your expected monthly basic salary?

Education:

• Bachelor's (Preferred)

Experience:

• Banking: 1 year (Preferred)

Work Location: In person