Senior Analyst, Client Acceptance Advisory - Compliance

Job Purpose

Principal Accountabilities

• Must have a strong understanding of relevant regulatory requirements and industry best practices.
• To conduct thorough due diligence on prospective clients and existing relationships. This includes reviewing financial information, verifying identities, and assessing the legitimacy of client activities etc as per defined policy and procedures and regulatory requirements.
• To evaluate the risk associated with each prospective client and existing business relationships. This involves assessing anti-money laundering (AML/CFT) and know your customer (KYC) risks, as well as other compliance-related risks.
• To ensure that client acceptance policy/procedures and practices adhere to relevant laws, regulations, and internal policies. This includes staying up-to-date with changes in regulations and making necessary adjustments to the existing processes in coordination with Senior Manager CAA. To contribute to the development and improvement of client acceptance policies and procedures to ensure that these policies are robust and align with industry standards and are current as per the regulations.
• To provide well-informed recommendations to business functions whether to accept or reject a client or business relationship. These recommendations should be based on the risk assessments and due diligence findings that are in line with the regulations and banks policy/procedures.
• To identify potential risks associated with clients and propose risk mitigation measures. This may involve suggesting enhanced monitoring, additional documentation, or special conditions for certain clients.
• To effectively communicate client acceptance decisions and any associated risks to relevant stakeholders.
• To maintain detailed records of client acceptance decisions, related documentations and due diligence activities, ensuring compliance with record-keeping requirements.
• To assist in providing training and guidance to staff to ensure that they understand and follow the client acceptance processes accurately.
• To continuously monitor existing client relationships to detect any changes in risk profiles or suspicious activities and take appropriate action when anomalies are identified in coordination with Senior Manager CAA.
• To prepare and submit reports as required by regulatory authorities, detailing client acceptance activities, risk assessments, and compliance status in coordination with Senior Manager Client Acceptance and Advisory.
• To efficiently monitor customer transactions along with timely reporting of Suspicious activities/transactions to the DMLRO in line with the banks policies and procedures for onward submission to the MLRO.
• To conduct filtering, investigation advisory on sanctions and enhanced due diligence on related transactions.
• To immediately raise SAR to the Senior Manager CAA for unusual Client Acceptance and Advisory related concerns for onwards submission to the MLRO.
• To review AML/CFT/Sanction alerts and timely disposition as well as STR/SAR reporting to Central bank as and when necessary in coordination with DMLRO and MLRO.
• Handling Regulatory authority’s AML/CFT inquiries as per policy and procedures in coordination with DMLRO.
• To review transactions as per policy and procedures in order to make sure there are no breaches from an AML/CFT/Sanctions perspective.
• To handle any other project/task assigned by the line manager and Head of FCC/MLRO.
• To maintain highest standard of confidentiality, professional conduct, ethical standards and integrity in the provision of services/activities and interactions in the department. To avoid conflicts of interest and act in the best interests of the organization.
• To ensure complete adherence of the banks policy and procedures.

Experience & Qualifications

• Bachelor's degree in relevant field
• At least 5 years' experience in compliance and client acceptance advisory