Senior Anti-Money Laundering Technical Manager (FCCM / KYC / OFSAA’s / Compliance Operational Processes) – Port Moresby, Papua New Guinea

Oceanic and Pacific Rim
Posted 2 weeks ago

Reference No. JA-002-BSP

Reference Number: JA-002-BSP

 


Job Description:


This role is a second line function, and the main objective of this role is to manage and maintain the Bank’s obligations as it relates to the monitoring and reporting of suspected money laundering activities.

The incumbent will be responsible for administering systems, provide technical support, solutions, and tools in relation to the Banks AML & Compliance function. This includes User Access Testing of the new systems and enhancement, threshold analysis to determine parameterising for Transaction Monitoring system, assurance that the systems are viable, efficient, and effective and creating databases (or similar) to improve efficiency, researching new and more effective ways of Transaction Monitoring and Reporting including scenario analysis. Operational Risk Management: To develop and regularly review the Bank’s AML approach in relation to significant risk policies and strategies.


Responsibilities:


  • Perform Financial Crime Compliance Management (FCCM) risk assessments, process improvement, data analytics and FCCM system implementation.
  • Implement technology performance improvement using deep subject matter knowledge to address specific business concerns involving fraud prevention, detection, and implementation.
  • Review, update and formulate AML and compliance operational processes to be in regulation with banks, Bank of PNG, and Correspondent banks regulatory requirements.
  • Provide advice to frontline and other relevant units on AML related matters.
  • Review technical issues with Enhanced Due Diligence (EDD) cases and relevant KYC documents submitted by business.
  • Undertake risk assessment on the Bank’s new product offering from AML/CTF perspective, Including channel and new technology review.
  • Tune scenario thresholds to reduce false positives.
  • Plan and provide technical guidance for Anti-Money Laundering (AML) systems development, design, and systems integration, updating of software and applications through to implementation.
  • Provides technical expertise, leadership, and project coordination services to support and maintain continuity of all AML systems used by BSP working closely with BSP IT and BSP Information Security business units.
  • Drive a culture of continuous improvement to evaluate current platforms and networks. Research, identify and recommend software and applications that will improve the current transaction monitoring services and relevant reports provided by AML team with close engagement with BSP IT and Information Security. This involves working closely with our vendors for Oracle, Dow Jones, ACAMS, Swift and Voyager.
  • Ensure that all AML systems usage regularly monitored in line with the required regulations, changes and industry standards.
  • Manage and oversee the work of the technical team making recommendations and implementing policies and procedures to maximize resource utilization though process improvement, including modifying and updating in-house customer transaction monitoring tools and maintaining database to host all AML registries.
  • Manage technical resources within budget and project schedules.
  • Maintains knowledge on developments, trends and best practices in technology in relation to all Anti-Money Laundering systems.
  • Oversee to ensure all required reports requested by the Regulator designed and reviewed consistently in line with the Act and BSP AML/CFT Policy.
  • Oversee management of Domestic and International Watch list (i.e. purging and rules maintenance)
  • Overall management of PEP and Exit registers for PNG and OSBs ensuring updates on BSP Intranet site uploaded within the agreed timeframe.
  • Report any incidents that occur as a result of a direct loss or near miss caused by failure in the systems, people and processes or from external events.
  • Ensuring that AML systems and applications functionality and user procedurals properly documented and updated on a regular basis.
  • Ensuring regular engagement with all internal stakeholders (Retail, Corporate, Treasury, BSP Life, BSP Finance, and OBSs) to integrate AML technical solutions into the BU process.
  • Provide monthly EXCO reports in relation to AML systems and all regular AML reports to Head of Compliance & AML and Group GM Compliance.
  • Develop technical solutions to all AML systems and provide technical support to AML team to ensure that the systems efficiently and effectively utilised by the AML business unit.
  • Ensure minimal to nil loss incurred to the Bank whilst performing this role.
  • Performing other roles as expected of this role.


Regulations that Govern Actions:


  • Anti-Money Laundering and Counter-Terrorism Financing legislation (local and international)
  • Bribery and Corruption legislations (local and international)
  • Proceeds of Crime legislation (local)
  • Criminal Code legislation (local)
  • Sanctions legislation (local and international)
  • Banks and Financial Institutions legislation (local)
  • Income Tax legislations (local)
  • Customs legislations (local)
  • Public Finance Management legislations (local)
  • Companies legislations (local)
  • Central Bank issued prudential standards (local)
  • Government issued guidelines
  • Any other legislation that carries a regulatory obligation for Banks and Financial Institutions.


Requirements: Qualification and Skill


  • Certified Anti-Money Laundering Specialist(CAMS) or Certified Fraud Examiner (CFE)certifications or equivalent.
  • Bachelor’s degree.
  • Financial and risk background combined with technical skills to define, review, and implement, profiling AML roles and thresholds.
  • Familiarity or good understanding on emerging issues related to risk management including regulations, industry best practices and new technologies.
  • Hands-on experience in one or more phases of the software development life cycle (SDLC), including requirements definition, architecture design, configuration, and testing.
  • Proficient in oral and written English.
  • Proficient in Microsoft Applications and Oracle.
  • Strong analytical skills including business analytics, data architecture, data science,
  • Ability to organize and analyse complex data sets.
  • Strong interpersonal and organizational skills.
  • Knowledge of banking products and services.
  • Basic understanding of regulatory compliance.
  • Ability to use pivot tables and work with an advanced statistical database and statistical methods and functions.
  • Oracle DB and scripting.
  • Familiarity with AML issues and suspicious transaction monitoring systems.
  • Experience using datamining/analytical tools and KYC automated solutions.

     


Experience:


  • Experience in Anti-Money Laundering (AML),Transaction Monitoring, Know-Your-Customer (KYC),Customer Due Diligence(CDD), Sanctions and payment screening.
  • Experience of managing, using and administration of any compliance, AML, and financial fraud solutions such as OFSAA’s FCCM and KYC solutions.
  • Experience in fraud transaction monitoring, fraud incident investigations, fraud business process evaluation, and fraud risk assessments.
  • Minimum five years’ experience with Oracle’s systems.
  • Have a background in IT
  • Past experiences to support sound understanding of compliance risk management


Desirable:


  • Experience in Business and Improvement Processes
  • Detailed understanding of Information Technology and System integration
  • Experience in IT Programming
  • Automating processes
  • Experience working in a financial institution.


If you wish to apply for the position, please send your CV to Jamie Adams at jadams@caglobalint.com

Please visit www.caglobalint.com for more exciting opportunities.


Jamie Adams

CA Finance


CA Global will respond to short-listed candidates only. If you have not had any response in two weeks, please consider your application unsuccessful however your CV will be kept on our database for any other suitable positions.


 

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