Bank Due Dilligence Analyst at Sheer Logic

To conduct enhanced due diligence and analyse customers with respect to potential terrorist financing and money laundering related to bribery, corruption, and other predicate offences or other suspicious activity, based on System and Manual Alerts. This is essential to contribute to the assurance that business is undertaken in a compliant manner to avoid operational losses, fines, penalties, or reputational damage to the organisation.

Responsibilities

• Risk, Regulatory, Prudential & Compliance
• Perform Enhanced Due Diligence review on high-risk customers within the bank in line with the existing processes. Identify deficiencies in client files and document them appropriately. Have quality engagements with business units to ensure missing documents are obtained from customers. Ensure that all necessary information is updated in bank’s systems such as core banking and data store systems.
• Ensure CDD tracker is well updated with accurate review outcome. Help the bank identify potential money laundering and terrorist financing risks and escalate to Compliance team for further investigations.
• Identify Politically Exposed Persons (PEPs) and ensure all relevant information such as source of wealth information is obtained. Stay abreast of, identify and report / escalate on any new and emerging trends and typologies in the legislative and regulatory environment. Capture accurate and detailed analysis of High-Risk customers in Nice Actimize system.
• Conduct daily analysis on all positively identified persons/entities in relation to manual and systems generated alerts of high-risk customers in line with Anti-Money Laundering Control (AML) procedures.
• Analyse all matters relating to high-risk customers containing adverse information and escalate significant issues to line management for immediate action to avoid operational losses, fines, penalties or reputational damage to the organisation.Perform periodic review of high-risk customers in line with the bank’s policies.Participate and contribute to team’s meetings and decisions.
• Technology & Architecture
• Understand the banking source and target systems and interpret the output in the surveillance, investigation & analysis processes.
• Client
• Execute client and stakeholder activities, both internal and external, in line with the agreed policies, procedures and service level agreements.
• Provide expert advice and guidance to stakeholders & clients.Resolve queries regarding the analysis, information & reports
• Data
• Gather all sufficient and appropriate information from all available sources to ensure thorough analytics can be conducted.Capture findings and conclusions in the required format and systems and prepare and submit outcomes as prescribed by relevant policies and procedures.Escalate all high-risk, complex and/or significant issues to the line manager to ensure these matters are dealt with timeously and as per the standards set out it in the relevant functional framework.
• Store and manage all information and data on the required systems, in the required format and for the required duration as prescribed by the relevant data model and in adherence with the policies and procedures.Deliver on all the regulatory and internal reporting requirements.
• Compile reports covering findings, conclusions, recommendations and to inform next steps. Analyse all information related to alerts and/or instructions received, via any method or form, to detect possible money laundering; terrorist financing; sanctions breaches and any other legislative breaches.

Requirements

• A business related University degree
• Professional course in anti-money laundering
• At least 1-year experience in a financial institution especially in customer/enhanced due diligence is desirable.