Transaction Monitoring Manager

Overview

As the Transaction Monitoring Manager (Compliance) at Bank of China (M) Berhad, you will play a key role to assist the team lead of Transaction Monitoring (TM) on the implementation of Sanction and Transaction Monitoring (STM) requirements within the Bank, and to ensure AML risk management effectiveness throughout the Bank. This full-time position is based in our Kuala Lumpur head office.

Responsibilities

• ( Governance ) Assist immediate supervisor to establish, develop and maintain appropriate governance and accountabilities in managing AML risk of the Bank which include relevant procedures and manuals on STM.
• ( Governance ) Assist immediate supervisor to develop a holistic annual AML risk management work plan on STM that complements the Bank’s strategic objectives.
• ( Governance ) Participate in the regular recalibration of AML plan to adapt and respond to changes in legislation and regulatory landscape.
• ( Governance ) Implementation of overall AML compliance program as mandated.
• ( Governance ) Responsible in identification and assessment of AML risk within the Bank that includes the review of the TM alerts and sanction alerts embedded in the systems or exception reports.
• ( Governance ) Review Internal Suspicious Transaction Reporting (STR), conduct investigation and identify red flags and to further escalate to Checker / Team Lead, and timely submission of STR to Bank Negara Malaysia via FINS system.
• ( Governance ) Responsible for regulatory reporting such as Cash Threshold Reporting (CTR) to ensure report submission within regulatory timeline.
• ( Governance ) Monitor and report activities pertaining to STM to management as well as parent bank (Hong Kong) and Head Office (Beijing).
• ( Governance ) Assist in the review of the adequacy of STM controls in mitigating ML / TF risks and identify any areas for improvements.
• ( Governance ) Assess the adequacy of internal controls to manage AML risk in particularly STM, track and promptly follow up on any identified deficiencies and plans to address such deficiencies.
• ( Governance ) Ensure timely escalation of significant AML risk incident to Chief Compliance Officer and Head of AML, where applicable to ensure immediate remediation action is initiated to mitigate the risk.
• ( Governance ) Provide timely update to Head of AML / immediate supervisor on potential AML issue and risk assessment to make an informed judgement.
• ( Governance ) Ensure timely reporting and escalation of AML risk incident to relevant party including BOCHK or regulator, when needed and is in accordance to standards and timeline given.
• ( Advisory ) Keeping immediate supervisor informed on laws and regulatory developments, its implication to the Bank’s risk profile.
• ( Advisory ) Provide advisory and guidance to business and operation units on the interpretation of AML laws and regulatory requirements and implementation of internal policies and procedures for the management of STM relevant to the respective business and operation units to ensure alignment to all laws and regulatory requirements.
• ( Advisory ) Participate in the discussion with business and support units on advisory matter related to STM and to implement relevant controls to reduce residual AML risk profiles to ensure that ML / TF risk exposure of the Bank is being identified and managed within the Bank’s risk appetite.
• ( Training and Awareness ) Participate with immediate supervisor to reinforce AML risk management culture in the Bank by inculcating risk and compliance is everyone’s responsibilities.
• ( Training and Awareness ) Provide training to improve 1st line of defense’s understanding of relevant laws and regulatory requirements on STM.
• ( Training and Awareness ) Ensure adequate level of awareness and knowledge capacity across all departments in relation to STM.
• ( Training and Awareness ) Provide guidance on AML risk management related STM areas to business and support units.
• ( Teamwork and Engagement ) Actively contribute to a collaborative and inclusive team environment, fostering mutual respect and support among team members and within Compliance Department.
• ( Teamwork and Engagement ) Participate in team discussions, projects, and initiatives, ensuring effective communication and knowledge sharing, as well as supporting colleagues in achieving common goals.
• ( Teamwork and Engagement ) Demonstrate a willingness to assist and learn from others, ensuring the team’s overall success aligns with organizational objectives.
• Any other duties and responsibilities as assigned by Chief Compliance Officer, Head of AML and immediate supervisor from time to time.

Requirements

We offer competitive remuneration package and comprehensive fringe benefits including medical and life insurance, and different types of allowances to the right candidates. Let’s connect if you are interested to find out more!

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