Job Description
All FundBank Ltd. employees are expected to demonstrate our core competencies as outlined below. The role of AVP – AML Compliance has unique requirements and duties; however, these responsibilities are to be executed within the organization’s framework of core values. FundBank expects all employees to be high performing, self-motivated, learners and leaders. Summary: The AVP AML and Onboarding will have responsibility for supporting the AML Team in ensuring that client on-boarding, periodic reviews and client account amendments are processed in a manner that adheres to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations and internal procedures. Including ensuring that ongoing screening, monitoring, escalation and reporting is performed in a timely and appropriate manner.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Work with all divisions within FundBank to ensure successful client on boarding, liaising primarily with the AML Centre of Excellence.
- Maintain knowledge of regulatory requirements and changes including AML/KYC due diligence requirements for all components of complex multi-level organizational structures
- Provide final AML compliance approval on low and medium risk clients account opening & amendments.
- Provide initial review of high risk accounts opening and amendments.
- Review periodic reviews performed by the AML COE to ensure data integrity, that AML documentation is up to date and in accordance with current requirements and reviewing client activity in relation to the client profile.
- Where clients request account amendments review the updated due diligence records and AML documentation as prepared by the AML CoE.
- Provide final electronic approval of trapped wires.
- Review transactions and account activity by comparing to the nature of business of the applicant, clear flagged activity or escalate to the CRO/CCO as appropriate.
- Provide guidance on positive hits as a result of OFAC/World Compliance screening in KYC database in order to provide recommendation to CRO/CCO as appropriate.
- Understand and actively promote the application of the Risk Based Approach, particularly as it relates to AML/KYC and to transaction monitoring of client accounts.
- Question actively, methods and processes with a view to making the team more effective and efficient and ensuring that regulatory obligations are being met.
- Ensure all internal reporting in relation to any suspicious activity identified is provided in accordance with the procedures and on a timely basis. JOB DESCRIPTION
- Able/willing to take on additional duties, including providing coverage for other team members, as and when required.
- Assist with the internal operations and overall training and development of the AML COE.
- Establish standards of service for customers or clients and lead quality of service.
- Assist with developing, implementing, and monitoring policies and procedural manuals (i.e. client acceptance) that contribute to the efficiency of the department while also ensuring timely and accurate delivery of service.
REQUIREMENTS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Education:
- Four-year degree in Business, Finance, or a related field, or relevant work experience
- Professional Compliance or AML Certification a distinct advantage Experience:
- Minimum of 4 years banking or financial services experience.
- Flexibility and the ability to make good judgment calls with minimal guidance.
- Proven experience of challenging and influencing senior stakeholders.
- Well-organized with the ability to prioritize effectively.
- Solid computer skills including Microsoft Office and familiarity with database software.
- Excellent written and verbal communication skills.
- Interest or experience in digital assets an advantage.