Executive search firm Monroe Consulting Group Philippines is recruiting on behalf of one of the most established banks in the world where its branch in the Philippines offers financial products and services solely for corporate banking. They are looking for a Compliance Manager with minimum of 3 years experience in AML/CFT compliance functions. This role is crucial in ensuring that the bank operates within the boundaries of relevant laws, regulations, and industry standards. He/She will be responsible for developing and implementing compliance policies and procedures, as well as monitoring the bank's adherence to these requirements. The job is an onsite set up and is based in BGC Taguig, Philippines.
Job summary:
The AML Manager shall assist the Head of Department/CO in carrying out the AML/CFT functions to prevent the Branch from being used as a vehicle of money laundering, terrorism financing and other unlawful activities.
Key job responsibilities include:
* Keep track the latest legal and regulatory requirements on AML/CFT, interprets their applicability to branch's operations/business, discussed with affected departments, and draft/revise related internal policies accordingly.
* Carry out AML/CFT Risk Assessment and help management in identifying and mitigating related risks.
* Take the lead and coordinate with other departments in implementing the Customer Risk Assessment, Customer Identification and Acceptance Procedures, Updating and Retention of Customer Records.
* Analyze and make decisions on the hits generated by AML/CFT monitoring system, take lead in managing business relationships involving high risk countries or territories, and conduct inquiry on negative media reports for possible exposure of the branch to identified personalities and entities allegedly associated with or involved in unlawful activities.
* Perform periodic review and assessment of the Compliance Risk Testing Program on AML/CFT to ensure its effectiveness and conduct periodic testing including validation of AML/CFT self-assessment checklist of the branch's respective departments.
* Facilitate adequate and timely filing of Covered and Suspicious Transaction Reports to the Anti-Money Laundering Council (AMLC), as submitted by reporting departments.
* Provide AML/CFT-related training and help build the culture of strong compliance on AML/CFT requirements and keep all employees abreast on the current trends and typologies.
* Assist in facilitating the BSP's and AMLC's conduct of examination/investigation governing AML/CFT, including the preparation of response to observations/findings, if any.
* Prepare report/s to Senior Management (including the CO), H.O., local regulators on AML/CFT compliance matters, results of AML/CFT related activities, including annual plans and accomplishments.
* Act as the Role B designated by the Department Head.
* Perform other AML/CFT related work as may be assigned by the CCO.
Skills Required:
* Shall have working experience on AML risk management or relevant fields.
* Shall be familiar with local regulatory rules and requirements, including global practices, governing AML/CFT.
* Extensive knowledge of banking products and services.
* Strong local regulatory relationship management skills.
* Proficient in Microsoft word, excel, PowerPoint and other office software.
Qualifications:
* Bachelor's degree in the field of Management, Law, or Finance.
* Minimum of 3 years experience in AML/CFT compliance functions.
* Fluent in English, both in written and oral communication.
Qualifications Preferred:
* Has more than 6 years experience in a financial institution, or more than 4 years experience on related position in the banking industry.
* Certified Public Accountant
* Certified AML Specialist
