The main focus of this role is the monitoring and analysis of AML transaction patterns and WLM (Watch list monitoring) alerts and providing functions involved with the daily monitoring of the activities related to AML and Counter Terrorist Financing (CTF) compliance programs. This consists of monitoring and reviewing data produced by the system to determine if transactions are suspicious in nature following production of alerts and dealing with them in line with deadlines set. Review of AML patterns is a requirement to detect potentially suspicious behaviour by reviewing data produced by the Bank's systems Unusual or suspicious transactions may include those that fall outside of a client's known pattern of business behaviour. The individual will need to ensure they are aware of scenarios requiring monitoring and expectation of clients' activity against their expected trading profile. Individual will also review process and controls in conjunction with Compliance department and implement enhancements when necessary.
The Norkom WLM role ensures any SWIFT/BACS payments are appropriately processed against agreed sanctions lists. This involves daily monitoring with the Norkom system.
- Daily analysis of AML alerts to ensure trade activity within agreed trading scenarios
- Daily support for Norkom WLM filtering and referrals
- Compilation of client trading profiles and good understanding of expected trading activity
- Assist with devising and implementing enhancements and controls to the process where applicable
- Good understanding and experience of trade finance (preferable)
- Work with Compliance department to review process/policies
- Produce the monthly MIS
- Banking background
- Some managerial experience
- Good understanding of AML monitoring and risks
- Good understanding of WLM/AML processes
- System knowledge - Net Reveal, Norkom, Riskshield (advantageous)
- Trade finance related activity (advantageous)