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.
Bachelors Degree/Masters 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.
