Manager - Compliance

Role description

APosition Overview

Position Title

Senior Manager & Manager Compliance

Department

Compliance

Level/ Band

Senior Manager & Manager Compliance

Count

2

Locations

Lower Parel, Peninsula Business Park, Mumbai

Role Summary:

·        Implementation of AML/CFT Guidelines/Regulations issued by the regulator and ensuring compliance.

·        Implementation of Revised Red Flag Indicator & reporting format issued by FIU-Ind and ensure compliance.

·        Developing and enhancing controls within processes, systems to adhere to regulatory directions.

·        Preparation of AML Policy in line with the Regulatory requirement and update it regularly depending upon Regulatory changes or any other relevant factors.

·        Ensuring compliance to AML Policy.

·        Setting up processes for categorization of customer into High and Low Risk through various control mechanism such as AML Risk Grids, and market study etc.

·        Analyzing, monitoring, disposition of s and transaction.

·        Preparation of ground of suspicion and filing of Reports under new FINnet 2.0 portal with the relevant Authority post approval from the Principal Officer.

·        Filing of Monthly and Annual Statutory returns:

o   Cash Transaction Report (CTR);

o   Counterfeit Currency Report (CCR); 

o   Non-Profit Organization Transaction Report (NTR);

o   Suspicious Transaction Report (STR).

·        Perform Product Risk Assessment for risk categorization of product.

·        Preparing the AML Training content and ensuring all new, existing Employees and Agents are trained on AML.

·        Screening of Customers, Agents etc. on ongoing basis and identifying reportable transactions.

·        Conduct open-source search to find relevant information to complete the analysis and review.

·        Reviewing Politically Exposed Person (PEP) – High Risk case before issuance of the policy.

·        Circulating the FATF identified countries list to the relevant stakeholders and ensure compliance.

·        Regular communication on AML/CFT regulation/policy to all Employees through emailer or other mode.

·        Advisory on AML queries raised/opinion received from Regulator, Company Sales and Operations functions.

·        Monthly and Annual review conducted to check adherence of AML Risk Grid, AML policy and sharing of observation.

·        Filing of Annual Compliance Certificate with the local regulator.

·        Presenting Monthly, Quarterly and Annual status update to Senior Management.

·        Liaison with Auditors, FIU-Ind and IRDAI if required.

BOrganizational Relationships

Reports To

AVP- Compliance

Supervises

Same as above

CJob Dimensions

Geographic Area Covered

Mumbai

Internal Stakeholders

All functions of the Company

External

FIU-Ind and IRDAI

DKey Result Areas

Organization Process

Key Contributions

Sales

·        Establish AML Risk Grid for various channel with relevant Board approvals.

·        Ensuring effective implementation of AML/KYC process in various operational and business process.

·        Establishment of awareness and training program on AML/KYC norms.

·        Provide well researched legal advice to business within prescribed timelines.

Relationship Management

·        Establishment of effective communication mechanism on Compliance culture, AML & KYC norms as per Annual Ethics Communication plan.

·        Liaison with IRDAI & FIU-Ind to resolve business issues.

Ensure Compliance

·        Effective Implementation of AML/KYC regulations and statutes on regular basis.

·        Review of AML Policy, AML processes, SOPs, Framework, regulatory impact on processes and recommend changes.

·        Ensuring building of appropriate control mechanism within processes, systems to ensure that regulations are adhered to.

·        Ensuring appropriate reporting of suspicious transaction cases on a regular basis.

·        Enhancement of Software and technology for generation of s and reporting.

·        Respond to queries raised on any issues pertaining to AML/CFT guidelines and rules.

·        No significant outage or adverse remarks from IRDAI / GIA.

MIS

·        Maintaining Monthly, Quarterly and Annual filling MIS.

ESkills Required

Technical

Regulatory Requirements:

Analytical Thinking and Judgment:

Company & Industry Know How:

Drafting & Documentation Skills:

Negotiation Skills:

Subject Matter Expertise:

Connecting with Others:

Behavioral

Essential

Desired

Interpersonal skills

Communication skills

Creative thinking skills

Supervising/Leadership skills

Teamwork Skills

Influencing skills

Relationship Building skills

Decision making skills

·        High levels of flexibility, adaptability to manage long hours, working under strict timelines to reach deadlines.

FIncumbent Characteristics

Essential

Desired

Qualification

Graduate & above

Professional Degree (CA, CS)

Experience

6-8 years of experience in AML Compliance

Age

Any