Associate Manager/ Manager, AML Trade & Business Advisory

Job Description

Title: Associate Manager/ Manager, AML Trade & Business Advisory

Company Name: BRAC Bank PLC

Vacancy: --

Location: Anywhere in Bangladesh

Experience:
∎ At least 5 years
∎ The applicants should have experience in the following business area(s):Banks

Published: 20 Feb 2025

Education:
∎ Graduate from a reputed university with a satisfactory academic track record.

Requirements:

Additional Requirements:
∎ Minimum 5 years of banking experience of handling AML/KYC due diligence issues and correspondence and reporting with BFIU and other Regulators.
∎ Good conceptual skill in understanding industry dynamics.
∎ Excellent writing and presentation skills.
∎ Ability to manage and analyze large data sets efficiently. Strong skills in data analytics to interpret complex data, identify patterns, and derive actionable insights for AML/CFT risk assessments and decision-making.
∎ Good interpersonal skills and effectively handle difficult or sensitive situations.
∎ Clearly and persuasively communicate with stakeholders, advocating for necessary changes to support compliance and business objectives.
∎ Self-propelled, proficient in customer-centricity, team player, and capability to meet deadlines.
∎ Minimum 5 years of banking experience of handling AML/KYC due diligence issues and correspondence and reporting with BFIU and other Regulators.
∎ Good conceptual skill in understanding industry dynamics.
∎ Excellent writing and presentation skills.
∎ Ability to manage and analyze large data sets efficiently. Strong skills in data analytics to interpret complex data, identify patterns, and derive actionable insights for AML/CFT risk assessments and decision-making.
∎ Good interpersonal skills and effectively handle difficult or sensitive situations.
∎ Clearly and persuasively communicate with stakeholders, advocating for necessary changes to support compliance and business objectives.
∎ Self-propelled, proficient in customer-centricity, team player, and capability to meet deadlines.

Responsibilities & Context:
∎ Assess and Review: Evaluate clients' CDD, EDD, PEP, and high-risk accounts as and when escalated.
∎ Trade-CDD Advisory: Assess and review trade-related CDD, identify and mitigate TBML risks, and conduct risk assessments for high-risk clients and transactions, requiring expertise in trade CDD/EDD and TBML techniques.
∎ Compliance Advisory: Provide proactive AML/CFT compliance advisory services, assess risks during new product development, and ensure alignment with local and international regulatory standards, integrating AML/CFT and TBML controls into business operations.
∎ Escalation Assessment: Assess escalated transaction monitoring alerts, sanctions, and adverse media alerts, and recommend actions for TBML red flags.
∎ Process Improvement: Design, implement, and improve AML/CFT processes and controls, coordinate record retention and transaction monitoring, identify inefficiencies for process optimization, and automate compliance tasks to enhance efficiency and risk detection.
∎ Policy Administration: Administer record retention and MIS policies for compliance, and review products and services to recommend risk mitigation solutions and ensure regulatory compliance in product governance.
∎ Stakeholder Management: Build and maintain relationships with business units, operations teams, and external stakeholders to ensure AML/CFT compliance, manage audits and regulatory assessments, support regulatory inquiries, address audit findings, and continuously evaluate and mitigate compliance risks.
∎ Correspondent Relationships Review: Review documents related to enhanced due diligence (EDD) before establishing RMA with correspondent banks and financial institutions.
∎ Data Analytics: Gather data and prepare periodic and special reports, manuals, and correspondence to escalate issues to senior management. Additionally, conduct ad hoc reviews for AML & CFT risk forecasts to assist senior management in making informed decisions.
∎ Audit/ Inspection Correspondence: Address issues and maintain relevant correspondences for internal and external audits of the bank and communicate with regulators, including the Bangladesh Financial Intelligence Unit.
∎ Regulatory Relationships: Support the management of regulatory relationships with local regulators, especially the Bangladesh Financial Intelligence Unit.
∎ Training: Prepare AML-CFT training materials, eLearning questionnaires, and conduct customized training sessions for different stakeholder groups.
∎ BRAC Bank, a leading sustainable bank in Bangladesh, is committed to becoming the best bank in the country. It has pioneered SME Banking in Bangladesh and offers a comprehensive range of banking services to individuals and business entities. BRAC Bank stands out as a beacon of financial inclusion with solid financials, top credit ratings, and numerous accolades.
∎ BRAC Bank is currently looking for an ambitious, intelligent, goal-oriented, and enthusiastic individual for the following position in its Anti-Money Laundering Division:
∎ Associate Manager/Manager, AML Trade & Business Advisory
∎ Grade: PO - SPO
∎ KEY RESPONSIBILITIES:
∎ Assess and Review: Evaluate clients' CDD, EDD, PEP, and high-risk accounts as and when escalated.
∎ Trade-CDD Advisory: Assess and review trade-related CDD, identify and mitigate TBML risks, and conduct risk assessments for high-risk clients and transactions, requiring expertise in trade CDD/EDD and TBML techniques.
∎ Compliance Advisory: Provide proactive AML/CFT compliance advisory services, assess risks during new product development, and ensure alignment with local and international regulatory standards, integrating AML/CFT and TBML controls into business operations.
∎ Escalation Assessment: Assess escalated transaction monitoring alerts, sanctions, and adverse media alerts, and recommend actions for TBML red flags.
∎ Process Improvement: Design, implement, and improve AML/CFT processes and controls, coordinate record retention and transaction monitoring, identify inefficiencies for process optimization, and automate compliance tasks to enhance efficiency and risk detection.
∎ Policy Administration: Administer record retention and MIS policies for compliance, and review products and services to recommend risk mitigation solutions and ensure regulatory compliance in product governance.
∎ Stakeholder Management: Build and maintain relationships with business units, operations teams, and external stakeholders to ensure AML/CFT compliance, manage audits and regulatory assessments, support regulatory inquiries, address audit findings, and continuously evaluate and mitigate compliance risks.
∎ Correspondent Relationships Review: Review documents related to enhanced due diligence (EDD) before establishing RMA with correspondent banks and financial institutions.
∎ Data Analytics: Gather data and prepare periodic and special reports, manuals, and correspondence to escalate issues to senior management. Additionally, conduct ad hoc reviews for AML & CFT risk forecasts to assist senior management in making informed decisions.
∎ Audit/ Inspection Correspondence: Address issues and maintain relevant correspondences for internal and external audits of the bank and communicate with regulators, including the Bangladesh Financial Intelligence Unit.
∎ Regulatory Relationships: Support the management of regulatory relationships with local regulators, especially the Bangladesh Financial Intelligence Unit.
∎ Training: Prepare AML-CFT training materials, eLearning questionnaires, and conduct customized training sessions for different stakeholder groups.

Employment Status: Full Time

Job Location: Anywhere in Bangladesh

Read Before Apply:

BRAC Bank is a values-driven organization and believes in protecting all its stakeholders, including the coworkers and the community we work in, from all forms of harassment, abuse, neglect, exploitation, and discrimination. As an equal opportunity enabler, BRAC Bank encourages applications from any gender-diverse individuals and persons living with a disability. We consider personal persuasion as a disqualification of candidature.

If you are interested in taking up the challenge, please 'Apply Online'.

Only short-listed candidates will be communicated for the next stage as per the recruitment process. BRAC Bank reserves the right to accept or reject any application without assigning any reason, whatsoever.

BRAC Bank does not charge any fee at any stage of the recruitment process.

Apply URL::

Apply Procedure:

Company Information:
∎ BRAC Bank PLC
∎ Anik Tower (Level-9), 220/B, Tejgaon Gulshan Link Road, Dhaka-1208
∎ BRAC Bank is one of the top sustainable banks in Bangladesh. Established with a view to financial inclusion, BRAC Bank is the pioneer of SME Banking in Bangladesh, delivering a full array of banking services to individuals and business entities. Its strong financials, along with the best credit rating from the top global and local rating agencies and numerous recognitions, speak of the bank`s aspiration towards becoming the best bank in the country.

Address::
∎ Anik Tower (Level-9), 220/B, Tejgaon Gulshan Link Road, Dhaka-1208
∎ BRAC Bank is one of the top sustainable banks in Bangladesh. Established with a view to financial inclusion, BRAC Bank is the pioneer of SME Banking in Bangladesh, delivering a full array of banking services to individuals and business entities. Its strong financials, along with the best credit rating from the top global and local rating agencies and numerous recognitions, speak of the bank`s aspiration towards becoming the best bank in the country.

Application Deadline: 4 Mar 2025

Category: Bank/Non-Bank Fin. Institution