Compliance:transaction Monitoring Team

Compliance Head Transaction Monitoring - VP INTERNAL USAGE No of Vacancies 1 Reports to Deputy Principal Officer Is a Team leader Team Size 100 Grade Head-Transaction Monitoring Business Corporate Centre Department Compliance Sub-Department Location Mumbai About Compliance The Compliance department assists the Board and Top Management in managing the compliance risk that is the risk of legal or regulatory sanctions financial loss or reputational loss that the Bank may suffer as a result of its failure to comply with the applicable laws regulations or code of conduct applicable to banking activities It ensures strict observance of all statutory provisions in various legislations such as Banking Regulation Act Foreign Exchange Management Act Prevention of Money Laundering Act Reserve Bank of India Act etc as well as the regulatory guidelines issued from time to time the standards and codes prescribed by BCSBI FEDAI FIMMDA etc and the Bank s internal policies and fair practice code About the Role The Transaction Monitoring function is a core component of the AML Compliance and is responsible for the identification review escalation and reporting of suspicious transactions in accordance with regulatory expectations The role demands strong leadership in overseeing management STR governance stakeholder communication process improvement and regulatory engagement including coordination with FIU-IND RBI and law enforcement agencies Key Responsibilities 1 Transaction Monitoring Management End-to-end ownership of transaction monitoring s across systems with continuous oversight of volumes quality and closure Define review and optimize scenarios based on typology trends and risk assessments Ensure timely review escalation and documentation of s in line with internal SOPs and regulatory requirements Conduct periodic trend analysis and develop actionable insights for effectiveness Implement risk-based segmentation and intelligent prioritization for queues 2 STR Process Ownership Review and validate s flagged as potentially suspicious for STR escalation Recommendation of all STR Cases with appropriate gist to enable PO to take final decision on STR Ensuring AML closure TAT to 30 Days Final recommendation of STRs to Principal Officer with strong analytical justifications and documentation Ensure proper governance quality assurance and timeliness of all STR submissions Maintain MIS and tracking mechanism for STR lifecycle including follow-up actions and feedback Periodic review of rejected STRs to ensure submission within timelines 3 Regulatory FIU Engagement Act as key liaison for all communication with FIU-IND RBI and law enforcement bodies on STRs and AML queries Ensure timely and quality responses to regulatory data requests notices audits and thematic reviews Participate in regulatory meetings and audits related to transaction monitoring Lead efforts for documentation readiness and audit trail management for all regulatory submissions 4 Intelligence Escalations Risk Governance Proactively identify emerging risks behavioral patterns and red flags through data analysis and review Collaborate with BIU and Risk Teams for case correlation and further investigation inputs Review and assess complex typologies such as TBML structuring layering and circular transactions 5 Team Leadership Capability Building Lead and manage a high-performing team of AML analysts and team leads with a focus on quality speed and ownership Develop functional expertise through regular knowledge sessions case studies and typology briefings Drive individual and team performance metrics related to quality STR accuracy and regulatory compliance Maintain resource planning to ensure balanced distribution of workload and timely handling of s Qualifications Optimal qualification for success on the job is MBA Postgraduate with Banking background AML Related Course Programme Certification is desirable 10 Years of Experience Role Proficiencies In-depth understanding of AML regulations STR requirements and typology-based monitoring Strong experience in STR drafting review escalation protocols and regulatory filing requirements Proven track record of managing regulatory interactions with FIU-IND RBI and law enforcement Strong analytical acumen for pattern recognition behavioural anomaly detection and investigative insight Excellent leadership and mentoring skills with the ability to drive performance and accountability Experience in handling large data sets MIS generation and thematic reporting for internal and external stakeholders Ability to drive cross-functional collaboration with Compliance Risk Operations and Technology teams Imparting training on various scenarios patterns developments for knowledge enhancement High focus on quality attention to detail and proactive issue resolution Ensuring timely submission of various Regulatory Filings to FIU-IND RBI Regular submission of MIS to the Senior Management and various other verticals About Axis Incorporated in 1994 Axis Bank is one of India s most trusted banks the third largest in the private sector At Axis Bank customer centricity has always been the foundation of our business Our efforts to address the requirements of a diverse customer cross-section are powered by robust infrastructure advanced technology a comprehensive monitoring control framework a large talent pool The Bank has a young engaged workforce of over 70 000 employees with an average age of 30 years We are an equal opportunity employer believe in empowering our employees by offering rich roles learning opportunities flexibility to chart their career their way Skills Refer to the About Company Axis Bank is the third largest private sector bank in India The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates MSME Agriculture and Retail Businesses The Bank has a large footprint of 4 594 domestic branches including extension counters with 11 333 ATMs 5 710 cash recyclers spread across the country as on 31st March 2021 The Bank has 6 Virtual Centres and has over 1500 Virtual Relationship Managers as on 31st March 2021 The Overseas operations of the Bank are spread over eight international offices with branches at Singapore Dubai at DIFC and Gift City-IBU representative offices at Dhaka Dubai Abu Dhabi Sharjah and an Overseas subsidiary at London UK The international offices focus on Corporate Lending Trade Finance Syndication Investment Banking and Liability Businesses