Navi | Associate Manager II

3 weeks ago

bangalore, India Navi Full time

About Navi

Navi is one of the fastest-growing financial services companies in India providing Personal & Home Loans, UPI, Insurance, Mutual Funds, and Gold. Navi's mission is to deliver digital-first financial products that are simple, accessible, and affordable. Drawing on our in-house AI/ML capabilities, technology, and product expertise, Navi is dedicated to building delightful customer experiences.


Founders: Sachin Bansal & Ankit Agarwal


Know what makes you a “Navi_ite” :

1.Perseverance, Passion and Commitment

• Passionate about Navi’s mission and vision

• Demonstrates dedication, perseverance and high ownership

• Goes above and beyond by taking on additional responsibilities

2.Obsession with high quality results

• Consistently creates value for the customers and stakeholders through high quality outcomes

• Ensuring excellence in all aspects of work

• Efficiently manages time, prioritizes tasks, and achieves higher standards

3.Resilience and Adaptability

• Adapts quickly to new roles, responsibilities, and changing circumstances, showing resilience and agility


About the role :

The AML Risk Manager will be responsible for ensuring that the Group meets Anti-Money Laundering (AML) regulations across all business lines (lending, insurance, investments and payments). This role requires a deep understanding of applicable AML and KYC laws and regulations (across RBI, SEBI, IRDAI, NPCI, FIU and any other relevant regulators), as well as strong analytical and investigative skills.


Key Responsibilities:

1. Own the AML Charter for the Group:

  • Develop, implement, and maintain comprehensive AML policies and procedures for all business entities (across lending, payments, insurance and investments).
  • Conduct regular AML risk assessments to identify potential vulnerabilities.
  • Develop and deliver AML training programs to employees.
  • Coordinate with the Internal Audit team to assess the effectiveness of the AML program.
  • Develop and implement risk mitigation strategies.

2. Customer Due Diligence (CDD):

  • Oversee the implementation of CDD procedures for new and existing customers.
  • Ensure that appropriate CDD measures are in place to identify and verify customer identities.
  • Monitor for high-risk customers and conduct Enhanced Due Diligence (EDD) as required.

3. Transaction Monitoring:

  • Defining, implementing, and maintaining a set of alerts to generate a Suspicious Transactions Report (STR)
  • Implement SOP to investigate & conduct due diligence on the generated STR
  • Review the investigations done by the Investigations team to ensure compliance with the SOP
  • Report confirmed suspicious transactions to the Financial Intelligence Unit (FIU)

4. Regulatory Compliance:

  • Ensure compliance with all applicable AML regulations, including the Prevention of Money Laundering Act (PMLA) and the Rules thereunder.
  • Directly Responsible Individual (DRI) for preparing and submitting regulatory reports as required.
  • Stay updated on changes in AML laws and regulations..


Requirements:

  • Bachelor's degree in Law, Finance, or a related field.
  • Minimum of 2-3 years of experience in AML compliance for a regulated entity (RE).
  • Strong understanding of AML & KYC laws and regulations, particularly the PMLA.
  • Ability to communicate effectively with stakeholders and senior management, including Board Committee members, both verbally and in written presentations.

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