Senior Compliance Specialist

3 days ago

Bengaluru, Karnataka, India beBeeCompliance Full time ₹ 19,65,275 - ₹ 31,38,410
Job Description

Mitsubishi UFJ Financial Group is a leading global financial entity with a rich history spanning over 360 years. Our extensive network encompasses over 50 markets worldwide, supporting over 180,000 employees.

The organization aims to become the world's most trusted financial institution by fostering collaboration among its operating companies and adapting to changing financial needs of customers.

  • The group offers various services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

Our bank in Japan boasts a strong presence across Asia, extending to 20 markets.

Established in 2019, MUFG Global Services (MGS) serves as a subsidiary of MUFG Bank Ltd. With offices in Bengaluru and Mumbai, MGS provides support services across various functions like IT, KYC/AML, Credit, Operations, Trade Finance, etc., to MUFG Bank offices globally.

Key Responsibilities

Supporting the Global Compliance Testing function involves performing deep dives and targeted risk-based reviews of Financial Crimes Compliance processes across APAC.

  • Engage directly with testing management and team leads to assist and lead end-to-end compliance testing reviews applying the bank's testing methodology for MUFG Bank locations globally.
  • Apply the bank's testing methodology and create testing workpapers to evaluate the effectiveness of existing financial crimes frameworks including the design and implementation of relevant controls across the AML, Sanctions, and ABC framework.
  • Work closely with key stakeholders to understand business and functional requirements and support team leads in developing test plans, scripts, procedures, and sampling methodologies that incorporate regulatory expectations, industry developments, lessons learned from regulatory findings, and internally identified issues by compliance testing and internal audit.
  • Engage review stakeholders during testing and monitoring reviews and provide credible challenges to ensure financial crimes controls are adequately evaluated.
  • Play a leading role in financial crimes related projects and engage with global and regional compliance management in the implementation of a coordinated, consistent, and risk-based testing program.
  • Assist in developing and maintaining quality control processes to drive adherence to Global Testing Standards.
  • Drive central coordination, governance, and reporting leveraging regional structures and best practices.
  • Apply in-depth subject matter and industry expertise in preparing/reviewing reports summarizing the objectives, scope, findings, and conclusions of completed testing.
  • Support management in the validation of Management Action Plans designed to address remediation efforts and testing review findings.
  • Play a leading role and provide guidance to Analysts in coordinating with Issues Management for monitoring and tracking resolution of testing findings, including validating actions taken to resolve previously identified issues.
  • Monitor developments such as changes in the regulatory environment, financial crime/core compliance risks, and industry developments which may necessitate ad hoc testing.
  • Play a key role in the development and enhancements to testing methodology, standards, and procedures, Annual Test Plan, and testing tools.
  • Support general compliance activities and other duties including special projects as assigned

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