AML Analyst at

3 weeks ago

Nairobi, Nairobi Area, Kenya I&M Bank Full time

I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE).

The bank possesses a rich heritage in banking.

Purpose:


The role will be responsible for conducting transaction monitoring, high risk AML and Know Your Customer (KYC) reviews and investigations in addition to supporting Ad hoc projects.


Primary responsibilities:
Key Responsibilities/Accountabilities

Implement a risk-based compliance monitoring programme from the Compliance Risk Management Plans.
Co-ordinate the implementation of corrective measures to mitigate identified deficiencies.

Identify and assess the AML CFT/ Overall compliance and internal control risks and gaps associated with the bank's activities.

Entrench AML policies and ensure that appropriate AML procedures are implemented effectively by the bank.
Make recommendations for the review of policies, procedures, and processes where necessary.
Filing various Regulatory returns related to AML and CFT with FRC and CBK.
Conduct targeted reviews to assess compliance with internal policies, procedures and processes.
Raise awareness and provide training to bank staff on compliance policies.
Monitoring transactions in light of Anti-Money Laundering (AML) and identifying suspicious transactions for reporting to the MLRO;

Preparation of suspicious transaction reports for review by the MLRO and onward reporting to the Financial Reporting Centre (FRC) on goAML platform.

Collecting information to be used in correspondent Bank questionnaires and Development Financial institutions for review and onward forwarding to the Correspondent Banks;
Assisting in obtaining and updating the Anti-Money Laundering/ Know Your Customer (KYC) information from correspondent Banks as per the requirements of the prudential guidelines

Assist in the administration and review of customer Risk Scoring, High risk customer Identification and KYC documentation oversight requirements.

Conducting Periodic Enhanced Due Diligence and review of high risk customers and relationships.
Handle other duties as assigned to assist with the effective administration of the AML and KYC Compliance Program.

Person specifications
Academic Qualifications

Bachelor's degree from a recognized institution.

Experience

Minimum of 3 years of working experience
Relevant financial institutional and compliance experience, with exposure to different financial institutional products and business operations.
Previous knowledge in conducting transaction monitoring reviews, deep dive investigations, Enhance Due Diligence, and reporting of suspicious activities.

Knowledge on the requirements of the Proceeds of Crime and Anti Money Laundering Act, Prevention of Terrorism Act and CBK prudential Guidelines.

Professional Experience

Professional Certification in AML/CFT will be an added advantage.

Skills and Attributes

Excellent communication and interpersonal skills.
Ability to establish priorities, plan, coordinate and monitor own work plan.
Good understanding of AML\CFT regulatory policies with the ability to apply regulatory concepts in the day-to-day job functions.
Experience in conducting thorough research on high-risk customers.
Must possess exceptional research and analytical skills with the ability to analyze data and decipher high risk attributes.

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