The job description for an AML/CFT System Enhancement Team under Compliance department typically involves a range of responsibilities focused on improving and maintaining systems designed to prevent and detect potential ML/TF activities. Here's a comprehensive breakdown of the job description.
Role and responsibilities
- Review existing AML/CFT systems, identify weaknesses or inefficiencies, and propose enhancements to improve effectiveness and efficiency in detecting suspicious activities.
- Ensure that AML/CFT systems comply with relevant laws, regulations, and industry standards.
- Stay up to date on changes in regulations and implement necessary adjustments to the systems.
- Oversee the collection, organization, and analysis of large volumes of transaction data to identify patterns or anomalies indicative of ML/TF activities.
- Collaborate with IT teams to integrate new technologies or software tools into AML/CFT systems to enhance their capabilities in detecting and preventing ML/TF activities.
- Conduct risk assessments to evaluate the effectiveness of AML/CFT systems and identify areas of potential vulnerability or exposure to ML/TF risks.
- Provide training to staff members on AML/CFT policies, procedures, and the effective use of system tools.
- Work closely with other departments such as Business Analyst, Product, Technology and Infrastructure Team to coordinate efforts in enhancing the system.
- Proactively seek opportunities for continuous improvement in AML/CFT processes and systems, incorporate feedback from stakeholders and industry best practices.
- Stay informed about emerging trends, technologies, and methodologies in the field of AML/CFT to anticipate future challenges and opportunities for enhancement.
Qualifications and requirements
- At least 3-5 years working experience in the AML/CFT compliance, preferably have experience in AML/CFT system enhancements.
- Proficiency in Excel, SQL and any other data analytics tools.
- Possess understanding of AML/CFT regulations and trends. Holding an ICA/ACAMS or any other relevant certification/accreditation is preferred.
- Bachelor’s Degree/Master’s professional qualification from recognized universities.
- Possess strong problem-solving skills to address compliance issues, develop solutions, and implement corrective actions as needed.
- Quick learner, proactive and detail oriented.
- Able to multitask and work well under stress in a fast-paced environment.
- Demonstrate leadership, teamwork skills and ability to work with minimum supervision.
- Flexible and able to commit to work at our office located in Bangsar South, Kuala Lumpur, while adhere to the hybrid arrangements set by Team Lead/Head of Compliance.
- Malaysian citizenship.