Full Time

Senior Manager Compliance

Mumbai

India

A Position Overview

Position Title

Senior Manager & Manager Compliance

Department

Compliance

Level/ Band

Senior Manager & Manager Compliance

Count

Locations

Lower Parel, Peninsula Business Park, Mumbai

Role Summary:

· Implementation of AML/CFT Guidelines/Regulations issued by the regulator and ensuring compliance.

· Implementation of Revised Red Flag Indicator & reporting format issued by FIU-Ind and ensure compliance.

· Developing and enhancing controls within processes, systems to adhere to regulatory directions.

· Preparation of AML Policy in line with the Regulatory requirement and update it regularly depending upon Regulatory changes or any other relevant factors.

· Ensuring compliance to AML Policy.

· Setting up processes for categorization of customer into High and Low Risk through various control mechanism such as AML Risk Grids, and market study etc.

· Analyzing, monitoring, disposition of s and transaction.

· Preparation of ground of suspicion and filing of Reports under new FINnet 2.0 portal with the relevant Authority post approval from the Principal Officer.

· Filing of Monthly and Annual Statutory returns:

o Cash Transaction Report (CTR);

o Counterfeit Currency Report (CCR);

o Non-Profit Organization Transaction Report (NTR);

o Suspicious Transaction Report (STR).

· Perform Product Risk Assessment for risk categorization of product.

· Preparing the AML Training content and ensuring all new, existing Employees and Agents are trained on AML.

· Screening of Customers, Agents etc. on ongoing basis and identifying reportable transactions.

· Conduct open-source search to find relevant information to complete the analysis and review.

· Reviewing Politically Exposed Person (PEP) – High Risk case before issuance of the policy.

· Circulating the FATF identified countries list to the relevant stakeholders and ensure compliance.

· Regular communication on AML/CFT regulation/policy to all Employees through emailer or other mode.

· Advisory on AML queries raised/opinion received from Regulator, Company Sales and Operations functions.

· Monthly and Annual review conducted to check adherence of AML Risk Grid, AML policy and sharing of observation.

· Filing of Annual Compliance Certificate with the local regulator.

· Presenting Monthly, Quarterly and Annual status update to Senior Management.

· Liaison with Auditors, FIU-Ind and IRDAI if required.

B Organizational Relationships

Reports To

AVP- Compliance

Supervises

Same as above

C Job Dimensions

Geographic Area Covered

Mumbai

Internal Stakeholders

All functions of the Company

External

FIU-Ind and IRDAI

D Key Result Areas

Organization Process

Key Contributions

Sales

· Establish AML Risk Grid for various channel with relevant Board approvals.

· Ensuring effective implementation of AML/KYC process in various operational and business process.

· Establishment of awareness and training program on AML/KYC norms.

· Provide well researched legal advice to business within prescribed timelines.

Relationship Management

· Establishment of effective communication mechanism on Compliance culture, AML & KYC norms as per Annual Ethics Communication plan.

· Liaison with IRDAI & FIU-Ind to resolve business issues.

Ensure Compliance

· Effective Implementation of AML/KYC regulations and statutes on regular basis.

· Review of AML Policy, AML processes, SOPs, Framework, regulatory impact on processes and recommend changes.

· Ensuring building of appropriate control mechanism within processes, systems to ensure that regulations are adhered to.

· Ensuring appropriate reporting of suspicious transaction cases on a regular basis.

· Enhancement of Software and technology for generation of s and reporting.

· Respond to queries raised on any issues pertaining to AML/CFT guidelines and rules.

· No significant outage or adverse remarks from IRDAI / GIA.

MIS

· Maintaining Monthly, Quarterly and Annual filling MIS.

E Skills Required

Technical

· Regulatory Requirements: knowledge and understanding of Red Flag Indicator and revised reporting format issued by FIU-Ind; & AML Master Guidelines issued by IRDAI and how to meet these on a day-to-day basis.

· Analytical Thinking and Judgment: Ability to reach decisions by using the information systematically; ability to interpret complex concepts and cause and effect relationships.

· Company & Industry Know How: knowledge and understanding of the organization & industry.

· Drafting & Documentation Skills: Good Documentation skills for record maintenance

· Negotiation Skills: Effectively exploring alternatives to reach outcomes that gain the support and acceptance of all parties.

· Subject Matter Expertise: Has complete domain knowledge.

· Connecting with Others: Ability to effectively bring together diverse teams to jointly create results

Behavioral

Essential

Desired

Interpersonal skills

Communication skills

Creative thinking skills

Supervising/Leadership skills