AML Program Assessment Sr Compliance Analyst at Citi
Akwajobs (Douala, Cameroon)
Posted : 15 June, 2019
Job type : Full Time
AML Program Assessment Sr Compliance Analyst
The team is responsible for transaction analysis of high-risk client accounts to gather an understanding of the client profile usage, and develop a comprehensive questionnaire to address the findings of the transaction analysis. In addition the team acts as the key AML contact for the TTS businesses for Foreign Correspondent Banks (FCB) and is primarily responsible for ensuring the timely and effective review, management, identification and escalation (where required) of AML risk as related to our FCB client’s AML Programs, controls and activity.
Furthermore the team is also responsible for ensuring that appropriate levels of due diligence and Know Your Customer (KYC) checks are conducted on FCB relationships in line with relevant regulatory standards and for AML and regulatory training in regards to all FCB relationships located across the relevant region and representation of AML in all relevant FCB related forums.
The AML Program Assessment Compliance Officer will be responsible for the execution of the Level 2 PTR process and the AML Program Assessment for FCBs in EMEA. The Periodic Transaction Review (“PTR”) process is designed to supplement and enhance KYC documentation for higher risk client types, including Foreign Correspondent Banks, MSBs, and Embassies. The FCB AML Program Assessment team works with various global, regional and country level internal stakeholders (including TTS businesses, country AML Officers, the AML Core team, legal colleagues, etc.), in order to most effectively manage and determine the AML risk that Citi may be exposed to through its Global FCB population and identification of those relationships which may result in reputational / franchise risk for Citi. The candidate should have a well-rounded understanding of the components of an AML program including Know Your Customer, Client Identification Program and Enhanced Due Diligence for high-risk customer types including Payment intermediaries, Embassies, and Politically Exposed Persons, etc.
The candidate should have broad knowledge of the Anti-Money Laundering and Counter Terrorist Financing laws and regulations within the relevant region, including an understanding of the region specific ML typologies and AML challenges as well as the ability to recognise and investigate higher risk factors.
- Complete Level 2 reviews of the PTR Report, which includes identifying unusual/suspicious Red Flags, Validating Negative Media, and Analysing High-risk activity flows (Third Party Nesting and High-risk Client types).
- Review of the FCBs AML Program controls and identification of any concerns or weaknesses that may expose Citi to an unacceptable level of AML risk.
- Determination of the appropriate means of communication (e.g. email, phone call, site visit if possible, etc.) with clients depending on the results of the initial review.
- Direct interaction and communication with FCB clients at senior management level will be required.
- Compilation and / or provision of relevant information updates and periodic assessment results (where relevant) to the Global and Regional Correspondent Banking Oversight Committee (CBOC) on AML controls and specific risk factors of existing and future clients, providing recommendations on how to mitigate any issues including follow-up communication with clients, sending advisory letters or relationship exit.
- Effective and efficient management and tracking of existing CBOC SE escalation cases and instances where new escalation to CBOC SE is required.
- Full ownership of this process from start to finish is expected, including coordination of client interactions, follow up for client responses, acquisition of required information from internal stakeholders, etc.
- Provision of guidance and advisement (where appropriate) on due diligence and Know Your Customer (KYC) checks conducted on FCB relationships ensuring that such is in line with relevant regulatory standards.
- Participate in overseas country corroboration visits (via phone or in person), to determine specific risk typologies in the region. Visits include meetings with respondent banks and central banks (and any other relevant parties and Regulators, etc.).
- Implement new or enhance existing AML processes and controls in line with both Citi policy and local regulatory requirements.
- Prepare relevant Management Information for governance and audit purposes.
- Assist with other ad-hoc projects required by the Head of the PTR and FCB AML Program Assessment team.
- Identify AML training needs within the TTS business and AML units, particularly in instances where policy breaches have occurred.
- Conducting scheduled and ad-hoc trainings to key business partners, compliance, and AML teams and external parties.
- Production of training materials for delivery to staff and external clients.
- Assist with the provision of targeted AML training to the business as appropriate.
- Escalate significant AML matters to appropriate Global and Regional AML senior management and country AML Officers.
- Act as a conduit between local AML officers and seniors in Regions and Globally.
- Ensure that changes in relevant laws, regulations and Citigroup AML policies are communicated to the TTS business units in a timely manner.
- Bachelor’s degree or equivalent work experience
- 5+ years’ work experience directly related to complex and sensitive investigations, or any combination of AML/BSA, fraud, financial irregularities, etc.
- KYC and CDD/EDD experience, including good understanding of various corporate structures including offshore Trusts, Funds, and Special Purpose Vehicles etc.
- General and broad understanding of key AML and reputational risks, including PEPs, Sanctions, ABandC.
- Knowledge of US and EMEA AML laws and regulations and FATF recommendations
- Understanding of emerging markets and high risk industries
- Understanding of cash management products and correspondent banking.
- Excellent communications abilities as a communicator, including top-drawer written skills
- Excellent interpersonal and team-building skills
- Significant attention to detail
- Ability to work simultaneously with multiple conflicting priorities, timelines and stakeholders
- Commitment to co-operative and collaborative working
- Practical ability to apply and communicate legal and regulatory requirements to day-to-day activities.
- Excellent judgment and assessment skills; proactively employs personal curiosity to identify and research parties using a risk-based approach.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
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