Vertical Head

3 hours ago

Mumbai, India Kotak Mahindra Bank Full time

Role : Vertical Head – KYC/AML Compliance

Grade : M9


As AML/KYC Vertical Head, primary responsibilities would include effectively design and implement a robust Anti-Money Laundering (AML) program for ongoing compliance with KYC/AML/CFT requirements, ongoing monitoring of transactions, maintaining adequate AML records in a organized manner and sharing and reporting information as required under various laws and regulations and dealing with RBI/SEBI/IRDA/FIU India respectively.


Job Responsibilities:


  1. To ensure sharing and reporting information as required under Prevention of Money Laundering Act(PMLA) and rules framed thereunder.
  2. To ensure compliance in respect of RBI / FIU/ SEBI/ IRDA guidelines, regulation and directives on KYC/AML/CTF.
  3. To establish and oversee the implementation and effectiveness of AML, KYC and CFT policies, procedures and controls and ensuring periodic review of implemented AML framework, in order to ensure an up-to-date AML framework at all points of time.
  4. To extensively collaborate with internal stakeholders to drive discussions, decisions, escalate and embed appropriate governance on the topic as required.
  5. To be the owner of AML/KYC controls by executing/managing the control testing and evaluating the control effectiveness annually.
  6. To own, develop, and implement enterprise-wide Risk Assessment or Business Risk Assessment relating to AML/ KYC requirements, evaluate the potential risk exposure the business, and tailoring policy requirements commensurate with residual AML risk and control environment for all categories of bank customers.
  7. To monitor transactions and customer activities for suspicious behavior and potential financial crimes and ensure timely filing of Suspicious Transaction Reports(STRs) that in satisfaction of regulatory expectations.
  8. To assess and mitigate KYC/ML/TF risks associated with the Bank’s operations and activities.
  9. To ensure that the information in respect of CTR, CCR, NTR is submitted to FIU-IND as per stipulated timelines and timely, accurate submission of KYC/AML related data is furnished to regulators, as required.
  10. To periodically evaluate the STR to alerts/cases ratio and carry out threshold tuning to assess and improve the risk relevance of the RFIs
  11. To build, lead, train and develop the AML team on identification of suspicious/unusual account activity, providing complete and relevant narrations for alert closures and raising good quality STRs.
  12. To assess KYC/AML risks for all new products
  13. To establish and oversee implementation of a robust training framework across the Bank on KYC/AML/CFT related matters.
  14. To maintain excellent working relationships with the regulators for timely resolution of queries and orderly implementation of the requirements
  15. To manage internal and external audits/inspections and ensure comprehensive compliance of supervisory observations made in both letter and spirit, in a time bound and sustainable manner.






Skills & Personal Traits:


  1. Up-to-date knowledge of banking regulations and laws
  2. A thorough understanding of the applicable AML regulations and compliance requirements
  3. Proven experience of having developed and monitored enterprise-wide AML compliance programs of a regulated banking entity.
  4. Keen awareness of the historical and evolving regulatory landscape
  5. Adaptability to change
  6. Excellent organizational and problem-solving skills, with an eye for detail
  7. Ability to develop and maintain effective relationships internally and externally
  8. Excellent communication, negotiation and interpersonal skills
  9. Ability to interpret complex regulations and policies and apply them
  10. Ability to create and maintain detailed reports
  11. Strong problem-solving and analytical skills
  12. Ability to remain calm under pressure
  13. Willingness to learn
  14. Ability to prioritize and multitask
  15. Ability to lead and manage a team
  16. Technology proficient


Specifications :


  • Post graduate from a recognized university. A professional degree with ACMAS certification will get priority.
  • Should have at least 15-20 years of Banking experience(preferably in a banking entity) and should have worked as Principal Officer for minimum 3 Years

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