Anti-money Laundering, Srassc

Job Title:
AML Specialist

Bank Level

Senior Associate (Emerging Lead 320)

Legal Entity:
State Street Corporate Services Mumbai Pvt Ltd

Business Line

AML Compliance
- This figure is presented as of September 30, 2018 and includes approximately $28 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Business Line Information

Anti-Money Laundering (AML) Program & Sanctions and Embargoes (S&E) Services:
State Street and its subsidiaries ("State Street") are committed to combating money laundering, terrorist financing, and other financial crimes and complying fully with all applicable laws and regulations designed to combat money laundering in the jurisdictions in which it does business. State Street is also committed to complying with economic and trade sanctions administered and enforced by governments and supranational bodies, including, among others, the sanctions programs and designated sanctions lists administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council, and the European Union

Purpose of Role:
(Summaries the job’s intent and why it exists, in one or two sentences)
- Confirm department/teams the role will interact with on a day to day basis_

Investigation and analytical due diligence of new and existing high risk clients of State Street, who have been identified through Customer Due Diligence, Customer Risk Rating Methodology or a triggering event. Complete screening of Politically Exposed Person (PEP) and Negative News screening using multiple in-house and third party databases.

Secondary review of all high risk cases is conducted by the AML Compliance, Financial Intelligent Unit (FIU). The Enhanced Due Diligence (EDD) team reviews the cases as per Know Your Customer (KYC) requirements matrix to ensure that all the elements of risk are verified and recorded periodically or before onboarding a client.

In the absence of this activity, there is a risk of non-compliance of KYC regulations

Major Responsibilities:
(Identify 5-8 major responsibilities performed by the job. Include the approximate percentage of time performing each responsibility during a typical week/month. If the percentage of time performing a function is less than 5%, that function should not be listed)

Individual Contributor

Review and action all cases/ alerts in accordance with the standard operating procedures to ensure completeness for FIU sign off Identify and report all risk and compliance issues, breaches, suspicious and unusual activities in order to mitigate the risk associated with the client Interact proactively and coordinate with global AML teams on query resolution Support and help the associates in the team resolve EDD cases reviews increasing their knowledge of due diligence concepts Resolve queries with the KYC Shared Services team and Business Units to meet the SLA for the EDD case reviews Suggest process improvements to achieve improved efficiency and accuracy Assist the manager in preparing various monthly MIS reports within the assigned deadlines Manage the team and senior management queries during the absence of the manager Develop a strong understanding of State Street’s Anti-Money Laundering program, policies and procedures, and requirements in order keep oneself updated with the latest changes

PERSON SPECIFICATION

Level of Education/ Specific Qualifications:
Bachelors/ Master’s degree

4 - 6 years relevant experience in Know Your Customer (KYC) - Customer Due Diligence and Enhanced Due Diligence)

Knowledge in financial systems
- Bloomberg, Thomas Reuters, World check desirable

Skills and Experience - interpersonal, numerical, problem-solving, analytical, etc

Primary Skills (Must have)

Writing and Reporting - Writes clearly and correctly; structures information to meet the needs and understanding of the intended audience.

Learning and Researching - Rapidly learns new tasks; demonstrates an immediate understanding of newly presented information; gathers comprehensive information to support decision making.

Results Orientated - Focuses on customer needs and satisfaction; sets high standards for quality and quantity; monitors and maintains quality and productivity; works in a systematic, methodical and orderly way; consistently achieves project goals.

Analytical Skills - Analyzing the underlying reasons of compliance-related issues and/or misconduct events; identification of systemic causes of issues.

Secondary Skills (desirable)

Creation and Innovation - Developing training that is legally sound, addresses source of compliance risk, and drives desired employee behavior.

Planning and Organizing - Sets clearly defined objectives; plans activities and projects well in advance and takes account of possible changing circumstances; identifies and organi