Head, AML Unit

Role Purpose:
Ensures the design and implementation of an effective financial crime compliance program for Anti-Money. Laundering (AML) & Counter Terrorist Financing (CFT) and Sanctions risk of the Bank and oversees it is functioning on a regular basis. Oversees the Fraud Risk Management (2nd line function) and Anti-Bribery and Corruption Management (2nd line function) of the Branch.

Duties and Responsibilities:

1. Takes the lead in the Management of Anti-Money Laundering & Counter Terrorist Financing (AML CTF), Sanctions compliance, and Fraud Risk Management (2nd line) for the Branch as well as in coordinating with the various departments/divisions of Manila Branch for the effective implementation of the Bank's AML CTF, Sanctions Compliance Program, and Fraud Risk Management.

2. Conducts the risk assessment of the Bank's financial crime compliance and the effectiveness of the controls to mitigate such risk.

3. Takes the lead in designing an effective Money Laundering and Terrorist Prevention Program (MTPP) for Manila Branch and monitors the new regulatory issuances related to AML/CFT & Fraud Risk.

4. Enhances the alert parameters and thresholds of the AML system to capture potential sources of Money Laundering/Terrorist Financing (ML/TF) risks capable to detect red flags and suspicious transactions.

5. Leads the team in conducting compliance testing on AML Policy and Procedures.

6. Manages the daily transaction monitoring and effective handling of SAS alerts within timelines prescribed by the regulator.

7. Validates and conducts independent due diligence on transactions and KYC documents.

8. Manages the ML work plan of timely reporting to the regulators, senior management and HK to ensure that AML risks are monitored, duly documented and communicated.

9. Supervises the filing of related regulatory reports.

10. Performs other compliance management work in accordance with laws, rules and regulations, requirements of the head office and the directives of the general management office of the Branch

11. Part of the transformation efforts of Manila Branch/HK including but not limited to, being assigned to agile teams, and work on the required deliverables or take on additional business as usual functions designated by department/division heads.

12. Continuously review and improve on customer protection procedures, handling and education.

Qualifications

• Graduate of any 4 year course
• Familiarity with operational, financial, quality assurance and regulations of the Bank.
• Familiarity with BSP, Manual of Regulations for Banks (MORB) and other regulatory agencies that govern the banks' AML Programs.
• Association of Certified Anti-Money Laundering Specialist (ACAMS) certified or pass the same 1 year from hiring.
• More than five (5) years of work experience in Anti-Money Laundering work in a commercial bank or equivalent or comparable financial institution or the BSP
• Experience in compliance risk assessment and compliance testing
• Experience in dealing and communicating with regulators, especially the Anti-Money Laundering Council (AMLC) and BSP. Drafts the Bank's formal communication and replies to the AMLC & BSP.
• Knowledge in audit procedures