Sanctions Screening Specialist

2 weeks ago

Bayan Lepas, Penang, Malaysia Commerz Global Service Solutions Full time 60,000 - 120,000 per year

Job purpose :

  • To assist the entity in managing the regulatory (mainly AML & Sanctions) and reputational risk related requirements set out in - relevant German/international – whichever is stricter – law and regulations. - global policies set forth and the standards communicated by GM-CO

  • To assist the entity in performing refinement of Trade Documents in Commerzbank Trade Finance Compliance automation tool (Trade AI) - Data refinement to be performed with highest quality with zero tolerance to error. - Data refinement to be completed with the agreed stipulated time as per SLA.

Key Activities :

General / Compliance Culture

  • Facilitate compliance of the entity with applicable banking and securities laws, regulations, and internal guidelines regarding AML/CFT and Sanctions.
  • Perform Sanctions screening in PELICAN OFAC (Sanction screening tool of Commerzbank)
  • Perform AML and Sanction screening on Export/Import Letters of Credit, Guarantees, Import/Export Collection received by the bank (SWIFT Messages)
  • Perform AML and Sanction screening on transport documents presented by presenting bank
  • Ensure high quality of AML and Sanctions screening and this will be reflected in quarterly desk review
  • Report and escalate all violations and suspicious behavior to TPC Compliance Officer
  • Maintain Due Diligence at the highest level of quality to protect the Bank from regulatory risk which could result into financial and reputational damage.
  • Ensure awareness and full compliance regulations, policies, guidelines, procedures and practices.
  • Respond to email and queries from internal customers and stake holders on a timely manner.

Compliance Advisory Service

  • Regularly exercising good judgement in making decisions or recommendations in relation to case investigation.
  • Ability to accurately and thoroughly screen MT messages and Transport documents/Voyage journey to detect and identify the non-compliance or violations as per Commerzbank AML/Sanctions Policy.
  • Working closely with TPC Compliance Officer / Business Compliance Asia to ensure all requirements by GMCO Frankfurt and Asia are met
  • Working closely with all TPC Operations Team to utilize proper corrective action procedures as required.
  • Working closely with Process Managers and provide review on a timely basis or as and when required.
  • Outspoken and not afraid to raise any issues with regards to noncompliance, if any.

Any other tasks assigned by Head of Due Diligence Team

Formal education :

University degree or similar, preferably in Banking, General Management or Law

Specialist Knowledge :

Work Experience:

  • 2-4 years' experience in Sanctions Screening / TBML
  • Familiar with Sanctions Screening methodology
  • Previous experience in performing Voyage Check through IMB/IHS or any other service provider.
  • Well versed in dual use goods and HS Code terminology
  • 5 years overall experience in Banking & Finance

Further qualification/skills/requirement:

  • Good knowledge and understanding of International Sanctions & Embargoes Regulation
  • Good knowledge in Trade Based Money Laundering
  • Strong communication skills
  • ACAMS Certified / ICA TBML Specialist

This role will require you to work in one of the following shifts:

  • Asia Hours:
    9:00 AM to 6:00 PM
  • EU Hours:
    2:00 PM to 11:00 PM / 3:00 PM to 12:00 AM (during daylight savings) – includes shift allowance
  • US Hours:
    9:00 PM to 6:00 AM / 10:00 PM to 7:00 AM (during daylight savings) – includes shift allowance

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