Transaction Monitoring Specialist

4 days ago

Kuala Lumpur, Kuala Lumpur, Malaysia Bank of China (Malaysia) Berhad Full time

Direct message the job poster from Bank of China (Malaysia) Berhad

Manager @ Bank of China (Malaysia) Berhad | Recruitment, IR and HR Policies

Job Description

Governance / Risk Management

  • Responsible for identification and assessment of AML risk within the Bank, including the review of TM alerts and sanction alerts embedded in the systems or exception reports (i.e., perform transaction monitoring, name screening alerts triggered from CNS, adverse media screening, transaction screening, etc.);
  • Review Internal Suspicious Transaction Reporting, conduct investigations, identify red flags, and escalate to Checker/Team Lead, with timely submission of STR to BNM via FINS system;
  • Responsible for regulatory reporting such as Cash Threshold Reporting (CTR) to ensure report submission within regulatory timelines;
  • Review the adequacy of STM controls in mitigating ML/TF risks and identify areas for improvement;
  • Ensure quality and timely submission of all assigned work;
  • Track and follow up on any identified deficiencies and plan to address AML deficiencies arising from independent reviews;
  • Provide timely updates to Head of AML/immediate supervisor on potential AML issues and risk assessments to make informed judgments;
  • Ensure timely escalation of significant AML risk incidents to the Chief Compliance Officer and Head of AML, where applicable, to ensure immediate remediation actions are initiated to mitigate risks;
  • Keep the immediate supervisor informed on laws and regulatory developments and their implications for the Bank's risk profile;
  • Provide advisory and guidance to business and operation units on the interpretation of AML laws and regulatory requirements and implementation of internal policies and procedures for the management of STM relevant to the respective business and operation units to ensure alignment with all laws and regulatory requirements;
  • Participate in discussions with business and support units on advisory matters related to STM and implement relevant controls to reduce residual AML risk profiles to ensure that ML/TF risk exposure of the Bank is identified and managed within the Bank's risk appetite.

Training and Awareness

  • Participate with immediate supervisor to reinforce AML risk management culture in the Bank by inculcating that risk and compliance are everyone's responsibilities;
  • Provide training to improve the 1st line of defense's understanding of relevant laws and regulatory requirements on STM;
  • Ensure adequate awareness and knowledge capacity across all departments in relation to STM;
  • Provide guidance on AML risk management related STM areas to business and support units;
  • Expected to be involved in system enhancement testing, projects, or quality assessment tasks as required;
  • Any other duties and responsibilities as assigned by Chief Compliance Officer, Head of AML, and immediate supervisor from time to time.

Job Requirement

Education/Professional Qualifications:

  • Bachelor's Degree in any field;
  • Certification in AML/CFT will be an added advantage;
  • At least 8 or 5 years of relevant experience for Manager and Assistant Manager respectively, with strong knowledge of banking regulatory environment and regulations;
  • In-depth understanding of industry trends, products, relevant laws and regulations, and kept abreast with money laundering/terrorist financing/proliferation financing;
  • Familiar with banking operations/procedures and systems to assess and evaluate their adequacy in managing and mitigating AML risks;
  • Similar AML experience will be an added advantage or at least with audit/risk/compliance experience.

Personal Attributes & Characteristics

  • Strong analytical skills;
  • Great teamwork and ability to attain high productivity;
  • Ability to manage multiple priorities and tasks with the skill to adapt to changes in a fast-paced environment;
  • Good communication and interpersonal skills with the ability to influence others and build good rapport with business and operational units;
  • Ability to work effectively with internal and external stakeholders.

Knowledge/Tools/Skills

  • Knowledge of AML regulatory requirements.
Seniority level
  • Mid-Senior level
Employment type
  • Full-time
Job function
  • Analyst, Legal, and Training
Industries
  • Banking and Financial Services
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