AML and KYC Analyst
At a glance
Mid-level Risk & Financial Compliance role at Sumitomo Mitsui Banking Corporation. India.
Pay not stated Risk & Financial Compliance salary
financeroles summary, based on the employer's posting.
What you'll do
- Track regulator correspondence and submit responses on time, while coordinating branch inspections across departments
- Prepare the annual compliance risk assessment and action plan, then test controls and report findings to management
- Train branch staff on compliance topics, check their learning, and follow up until assignments are complete
- Investigate transaction and screening alerts in SAS HP AML, Fircosoft and ACTIMIZE, escalating suspicious or sanctioned activity
- Verify new-customer KYC files and keep existing customer records current through periodic reviews
What you bring
- You have two to five years of experience in a related field
- You hold a CA, MBA, LLB or a related bachelor’s or master’s qualification
- You understand legal and compliance rules that apply to foreign banks in India
- You communicate well in writing and presentations, and can use Microsoft Office tools
Who this fits
This mid-level role suits someone who can handle both branch compliance work and customer KYC/AML reviews. You’ll support the branch’s overall compliance function and report findings to management.
From the employer
Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). Built upon our rich Japanese heritage since 1876, we put our customers first and provide seamless access to, from and within the Asia Pacific region. SMBC is one of the largest Japanese banks by assets and maintain strong credit ratings across our global integrated network. We work closely as one SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers.
With sustainability embedded within our strategy and operations, we are committed to creating a society in which today’s generation can enjoy economic prosperity and well-being, and pass it on to future generations.
- Issue Branch circulars for all the staff members highlighting the regulatory requirements, actionables, timelines etc.
- Keep a track and strict monitoring of all correspondences with the Regulators and ensure that responses to regulatory authorities are properly submitted within the stipulated period of time.
- Handle Inspection by Local Regulatory Authorities and coordinate with other departments for smooth completion of the inspection.
- Preparation of Annual Compliance Risk assessment & Compliance Action Plan and put up the same to Management.
- Carry out Compliance Self Review and compliance Testing in line with the approved Compliance Risk Assessment and Action Plan and put up the report with findings to the management in a timely manner.
- Conduct various Training (classroom training, Online training etc) to educate the branch staff on compliance issues followed with test assignments and track until completion.
- To arrange for Compliance Committee Meeting on bimonthly basis to discuss significant compliance matters in line with the HO guidelines
- Regular review of Policy and Procedure of Legal & Compliance Department to ensure that same is updated and amended with the approval of appropriate authority as and when there are changes in regulations/ guidelines.
- Maintain various MIS and prepare periodic reports in a timely manner. Monitor and manage various approved documents for quick retrieval.
- Execution and completion of tasks assigned by department Head, controlling office, Regulator etc. in a timely manner.
- Responsible for handling the KYC/AML related function of the Branch and assist /support LCO for overall Compliance Function in the Branch
- Investigation and closure of alerts with regard to transactions initiated in Customer accounts to detect and identify any Suspicious Transactions (if any) in SAS HP AML system at First/ Second Level.
- Review and investigate the alerts in Fircosoft System on real time basis so as to rule out any sanction hit on the transaction processed by the branch.
- Review and investigate the alerts in ACTIMIZE name screening System which throws alerts post screening of Customer Data base of the branch against the changes in Sanctioned List.
- Keep the profile of the existing customers updated and make new profile for new customers
- Verification of KYC documents in line with the RBI/ HO guidelines for New Customer of the Branch and approve the same at first level.
- Periodic Review and record updates of KYC of existing customers of the branch as per the periodicity specified in KYC/AML Policy of the Branch in line with the extant guideline
Key Competencies:
- Should have sound knowledge of Legal and Compliances applicable on foreign banks in India.
- Should have good oratory and written skills.
- Should be able to keep track with the external compliance updates and implementation to take care of.
- Strong in Microsoft Word/ Excel/ PowerPoint excel and presentation
Education & Qualification:
CA/ MBA/ LLB/ Bachelor/ Masters in related field.
Working Experience:
Should have 2 to 5 years of experience in related field.
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