
AML Specialist
4 days ago
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
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