Senior Manager

JOB DESCRIPTION APosition Overview Position Title Senior Manager & Manager Compliance Department Compliance Level/ Band Senior Manager & Manager Compliance Count 2 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: oCash Transaction Report (CTR); oCounterfeit Currency Report (CCR); oNon-Profit Organization Transaction Report (NTR); oSuspicious 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. BOrganizational Relationships Reports To AVP- Compliance Supervises Same as above CJob Dimensions Geographic Area Covered Mumbai Internal Stakeholders All functions of the Company External FIU-Ind and IRDAI DKey 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. ESkills 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 ü Communication skills ü Creative thinking skills ü Supervising/Leadership skills ü Teamwork Skills ü Influencing skills ü Relationship Building skills ü Decision making skills ü ·High levels of flexibility, adaptability to manage long hours, working under strict timelines to reach deadlines. FIncumbent Characteristics Essential Desired Qualification Graduate & above Professional Degree (CA, CS) Experience 6-8 years of experience in AML Compliance Age Any