AML Reporting Officer

Brief Description:
The Anti Money Laundering (AML) Officer shall be responsible for developing, implementing,
and overseeing the bank’s Anti-Money Laundering and Counter-Terrorist Financing
(AML/CFT) compliance program. The AML Officer shall ensure that the bank adheres to
regulatory requirements and industry best practices to mitigate the risk of money laundering
and financial crimes.

Duties & Responsibilities:
1. Policy Development and Implementation:
Develop, update, and implement AML/CFT policies, procedures, and controls in accordance
with regulatory requirements and guidelines.
Ensure policies are effectively communicated and understood by all relevant stakeholders
within the organization.
2. Risk Assessment and Monitoring:
Conduct risk assessments to identify potential money laundering and terrorist financing risks
associated with the bank’s products, services, customers, and geographic locations.
Monitor transactions and account activities for suspicious behavior and potential financial
crimes.
3. Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD):
Establish and maintain risk-based CDD and EDD procedures to verify the identity of
customers and assess their risk profile.
Determine appropriate risk mitigation measures for higher-risk customers and transactions.
4. Reporting and Investigation:
Prepare and submit suspicious activity reports (SARs) to relevant regulatory authorities as
required.
Investigate and escalate suspicious transactions or activities in accordance with internal
policies and regulatory requirements.
5. Training and Awareness:
Provide AML/CFT training and education to employees to increase awareness and
understanding of money laundering risks and regulatory obligations.
Conduct periodic training sessions and workshops to reinforce compliance standards and
procedures.
6. Regulatory Compliance:
Stay abreast of changes in AML/CFT laws, regulations, and industry trends.
Ensure the bank’s AML/CFT program is updated and compliant with regulatory changes and
expectations.
7. Internal Controls and Audit:
Collaborate with internal audit teams to evaluate the effectiveness of AML/CFT controls and
procedures.
Implement recommendations for enhancements to the AML/CFT program based on audit
findings.
8. Collaboration and Communication:
Liaise with law enforcement agencies, regulatory authorities, and other financial institutions
on AML/CFT matters as needed.
Maintain effective communication channels with senior management and the board of
directors on AML/CFT issues, risks, and compliance initiatives.
Qualifications:
1. Bachelor’s degree in Finance, Business Administration, Law, or a related field is
highly desirable.
2. Advanced degrees or certifications such as Certified Anti-Money Laundering
Specialist (CAMS) is highly desirable.
3. At least five (5) years of proven experience in AML/CFT compliance within the
The banking or financial services industry is required, with a strong understanding of regulatory
requirements and best practices.
4. Excellent analytical skills and attention to detail, with the ability to interpret complex
regulations and apply them to practical scenarios.
5. Strong communication and interpersonal skills, with the ability to collaborate
effectively across departments and levels of the organization.
6. Ability to handle sensitive information with confidentiality and integrity.