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JOB SUMMARY
The core responsibilities include maintaining the quality of transaction monitoring, managing suspicious transaction reporting and name screening alerts, preparing Bank Negara Malaysia’s annual Data Compliance Report, and conducting AML/CFT Risk Assessments.
JOB RESPONSIBILITIES
1. Responsible for analyzing, investigating, and auditing cases (non-staff) via AML system submitted by Transaction Monitoring (TM) in FIU Unit. The responsibilities should include:
a) Analyzing and auditing the disposition comments by TM Unit based on the pre-set rules in the AML system.
b) Requesting further information e.g., KYC information, transaction details from the respective TM Unit to support the disposition comments in AML system.
c) While analyzing and auditing disposition comments of TM, responsibilities will also include but not limited to the assurance of overall quality, accuracy and compliance with TM process and procedures, to recommend solutions of the findings by “rework case” or “re-opened dismissed case” within the agreed Service Level Agreement (SLA) and to review all discrepancies or newly discovered trends within QA process for proper disposition and potential amendment to its procedures.
d) To work closely with TM to streamline and discuss case investigation and provide meaningful feedback by facilitate them in carrying out their primary responsibilities relating to key controls, where necessary.
e) Effectively communicate with Unit Head of Quality Assurance to ensure the fluid sharing of information and feedback across team members.
f) Maintain the highest level of confidentiality throughout the QA process, by disclosing only pertinent information to key stakeholders.
g) To assist and support stakeholders on AML/CFT drop case reports and on daily basis (when necessary).
h) To assist in annual review on AML/CFT System Threshold & Parameter setting pertaining to QA process.
i) Escalate issues as applicable to the Unit Head & Head of AML/CFT which could have a probable business impact on turnaround time or operation process.
2. Responsible for analyzing cases (non-staff) submitted by Transaction Reporting (TRU) in FIU Unit to ensure accuracy, completeness & identify area for improvement, which include:
a) Perform detailed quality assurance reviews of STRs to ensure they meet regulatory requirement and internal standards.
b) Verify the accuracy and completeness of the information provided in STRs, including the narrative, supporting documentation and overall submission.
c) Ensure timely filing of STRs, comply with relevant regulatory guidelines and internal standards.
d) Collaborate closely with TRU to streamline and enhance case investigations. Provide constructive feedback for better quality of STR reporting.
e) Facilitate effective communication with Unit Head of Quality Assurance to ensure seamless sharing of information and feedbacks across team member. f) Uphold the highest level of confident through the QA process by disclosing only relevant information to key stakeholders.
g) Escalate issues as applicable to the Unit Head & Head of AML/CFT which could have a probable business impact on turnaround time or operation process.
3) Ensure the implementation of Bank-wide ML/TF/PF Risk Assessment
a) Execution of the ML/TF/PF Risk Assessment exercise according to the approved plan including risk assessment reviews, follow ups on service request (“SR”) form and validation & attestation reviews from stakeholders e.g. business units, branches.
b) Prepare and update ML/TF/PF Risk Assessment prior to submission for senior management meeting to help determine the inherent risk, control effectiveness and residual risk as well as action plan by providing justification and rating controls accordingly.
c) Ensure implementation of the risk assessment’s activities are in line with bank’s policies and procedures, regulatory requirements, and best practices.
d) Observe deadline on the submission of ML/TF/PF Risk Assessment.
e) Attend sessions with stakeholders where applies.
4) Prepare and review periodic consolidated report and any other ad-hoc reviews e.g. BNM Quantity Risk Form, GMC, GBCC a) Ensure all reports is carried out with accuracy, integrity, timely and in line with policies, procedures, regulatory requirements and best practices.
5) Tracking of audit issues raised by BNM and Group Internal Audit.
6) Training and skill set development.
a) Facilitate / provide relevant training and support to staff in the team.
b) Facilitate / provide compliance training and support to other staff of the bank.
c) Develop training materials and review on regular basis.
7) Ensure the updating of internal policies, guidelines and procedures related to AML/CFT QA&RA in meeting changing AML/CFT regulatory requirement.
JOB REQUIREMENTS
Bachelor Degree in any course
Have 5 years working experience in QA, AML.