As a Trade Based Money Laundering (TBML) team member you would be responsible for identifying and monitoring transactions in the accounts as per the PMLA provisions, KYC/AML/CFT guidelines issued by RBI from time to time and FEMA regulations. The role involves other key activities like:
- Analysis of red flags / alerts generated by AML system to identify potential suspicious activity.
- Analysis of reports related to cross border remittances to identify suspicious activity.
- Analysis of unusual pattern of transactions based on various senario defined in the system
- Forward AML alerts to branches for carrying out enhanced due diligence and follow-up for ultimate closure of the alerts
- Timely reporting of suspicious transactions and execution of instructions from law enforcement agencies
- Updation of names in negative database as and when applicable
- Maintain current understanding of money laundering/ Trade based money laundering / terrorist financing issues including processes, policies, procedures, regulations and developing trends.
Assist in identifying systemic procedural weakness and additional training requirements/ process revisit if any
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Job Requirements –
- Graduate / Post Graduate with at least three years of Banking experience
- Well versed with functioning of Core Banking System ( in addition TI Plus knowledge would be preferred)
- Familiar in working on Microsoft office mainly “Excel” . Possessing “V-lookup” skills will be added advantage
- Good communication skills (spoken and written)
- Analytical skills with regard to monitoring of transactions, identification of unusual transactions with an eye for detail will be an added advantage
- Should keep himself / herself conversant with the current developments related to KYC / AML / CFT monitoring
- Understanding/experience about cross border remittances / trade transactions would be preferred
- Additional qualification / certification in AML would be preferred.
