Mashreq
Location
Bangalore | India
Job description
Job Purpose :
Ø Manage and oversee teams engaged in money laundering related alert data collection, analysis, and retention, via the review of transaction(s) generated by Actimize, manual systems, referred or otherwise, that have been raised within a related workflow, and writing a quality data analytics summary, at the direction of the Line Manager, or designee.
Ø Under the management of the MBNY TM Unit Head, or designee, exercise Subject Matter Expertise in the management of multiple teams conducting Due Diligence research, relevant to cross-border wire transfers, as it pertains to adverse media, subscription-based intelligence sources, and open-source data sources, while understanding the principles of the Compliance Operations of Mashreq bank New York (MBNY), as well as with operations of correspondent financial institutions, in general.
Ø Manage and supervise TM Due Diligence teams of MGN India, in support of MBNY Transaction Monitoring Unit Head. Conduct formal assessment of KPIs and other productivity and quality markers of MGN India, TMDD staff.
Ø Prepare periodic KPI reports to the MBNY Unit Head, or designee.
Ø Under the direction of the MBNY Unit Head, or designee, manage and supervise Quality Control and Quality Assurance periodic reviews and remedial actions, in accordance with MBNY TM SOP, other relevant MBNY policies and procedures.
Ø Assure the adherence to relevant regulations and guidelines that are issued by the US BSA/AML regulatory authorities (FED and NYSDFS).
Ø Stay abreast with relevant AML guidelines that are issued by non-regulatory agencies such as FATF, Basel, Wolfsburg, etc.
Ø Assure the adherence to the MBNY TM Standard Operating Procedures (TM SOP), as well as with other applicable Bank guidelines / procedures, in support of the MBNY TM Unit Head, or designee.
Ø Pro-actively escalate critical issues (compliance / regulatory) to the TM Unit Head, or other parties, as required by the MBNY TM SOP.
Ø Performs any other relevant duties which may be assigned by the MBNY TM Unit Head, or MBNY MLRO.
Ø Meets all prospective and resulting deliverables of joint ROE exams, MBNY QC, QA, and Internal Audit reviews.
Ø Participate in training sessions, and complete all training assignments, as assigned by the MBNY TM Unit Head, or any other authorized Mashreq employee.
Ø Work with the MBNY TM Unit Head, or designee, in identifying research process efficiencies.
Ø Assist HR and Compliance Management, and locally manage interviewing, hiring, onboarding, and training of new staff.
Ø When necessary, recommend remedial and disciplinary action related to performance and overall conduct, in line with policies and procedures of Mashreq bank.
Key Result Area:
Ø Manage and supervise personnel tasked with due diligence research.
Ø Manage and supervise related quality control workflows.
Ø Maintain ongoing awareness / current knowledge of all applicable internal / external procedural requirements – identify issues that could impact the branch / bank and escalate any serious issues / breaches / violations to the MBNY TM Unit Head, or other designated personnel.
Ø Ensure continuing compliance with the MBNY TM SOP or any other relevant policies and procedures; where deficiencies are detected, make recommendations to the MBNY TM Unit Head.
Ø Ensure due diligence research, and/or secondary reviews, are completed within required lifecycle and proficiency timelines.
Ø Provide required support to MBNY Management before, during, and after joint ROE exams, MBNY QC, QA, and Internal Audit reviews.
Ø Actively provide value added recommendations to ensure that all relevant systems and products have appropriate internal controls.
Ø Participate in, and ensure staff's participation in all mandatory assigned training, ensuring the timely completion of all assigned training sessions.
Ø Work with the MBNY TM Unit Head in identifying due diligence process efficiencies.
Operating Environment, Framework and Boundaries, Working Relationships
Ø Operate in a strictly regulated environment, requiring in-depth knowledge in all applicable areas of BSA / AML / TF / USA PATRIOT ACT.
Ø Be responsible for compliance monitoring, and supporting MBNY Compliance Management, in institutionalizing Mashreq values.
Ø Maintain cordial and professional rapport, and good interactive relationship with Mashreq personnel, across all areas of the Bank.
Ø Demonstrate Mashreq S.P.I.R.I.T. values in all exhibited behaviors.
Problem Solving
Ø Develop and maintain excellent working relationships with Mashreq staff, external consultants, and vendors, without compromising on independence and professionalism.
Ø Analytical thinking, and educative judgment on the relevance of regulations to the activity under review.
Clear understanding of risks related cross-border wire transactions, products, patterns, and relationship trends.
Decision Making and Authority:
Ø Oversee and supervise Analysts and Sr. Analysts.
Ø Take ownership of high-quality analytical results being generated and delivered in a timely manner, assuring MBNY TM Investigators have sufficient information available to further investigate alerts and cases, and to make informed decisions, based on complete and accurate information succinctly documented in relevant analytical reports.
Ø Manage the overall quality of due diligence analysis and secondary reviews in line with applicable policies / procedures and relevant regulations.
Ø Show, by example, effective workflow management, time management, and proficiency skills.
Ø Manage and complete performance and annual reviews for staff, as prescribed by relevant policies and procedures.
Ø When necessary, recommend disciplinary action to Management.
Knowledge and Skill:
Ø Experience managing others in a fast paced, high accuracy environment.
Ø Excellent time management skills.
Ø Ability to proactively address time-bound challenges and deadlines, both personally, and as a manager of others.
Ø Strong research skills, utilizing Internet tools, such as Google, as well as subscription-based tools such as World Check One.
Ø Strong critical skills in delineating true positive from false positive hits.
Ø Strong critical skills in appropriately determining relevance of data output to the underlining alert or case.
Ø Bachelor's degree in business, finance, accounting, related field, or equivalent experience.
Ø 5-6 years of AML Compliance experience, specifically in financial institutions involved in correspondent banking and/or trade finance regulatory compliance.
Ø ACAMS Certified Anti-Money Laundering Specialist (CAMS) Certification desired.
Ø Thorough knowledge of BSA / AML / TF / USA PATRIOT ACT.
Ø Must be a proficient user of Actimize or high aptitude of attaining such proficiency in a short period of time. If latter, prior extensive experience with other transaction monitoring systems is mandatory.
Ø Strong interpersonal, communication, and analytical skills.
Ø Excellent command of English language, both spoken and written.
Ø Efficient and logical approach to problem solving.
Ø Strong operating proficiency in Microsoft Office tools, specifically Excel and Word.
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