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Head of AML Compliance and Transaction Monitoring

Niyo

Niyo

Legal
Bengaluru, Karnataka, India
Posted on Thursday, June 13, 2024
Role Overview:

We are seeking a highly experienced Senior Anti Money Laundering (AML) Specialist with extensive knowledge in international remittance, forex card transaction monitoring, credit card transaction monitoring, and compliance with AD2 and FEMA RBI regulations. The ideal candidate will have a minimum of 10 years of experience in AML compliance, including setting up AML processes from scratch, policy making, and establishing compliance procedures within the fintech, payment gateway, travel card, or banking sector.

Responsibilities:

  • Develop, implement, and manage comprehensive AML compliance programs tailored to international remittance, forex card transactions, and credit card transactions.
  • Establish robust transaction monitoring systems to detect and investigate suspicious activities, ensuring compliance with regulatory requirements and internal policies.
  • Monitor and analyze trends in money laundering and financial crime risks related to international remittance and payment transactions.
  • Ensure compliance with AD2 and FEMA RBI regulations governing foreign exchange transactions and cross-border remittances.
  • Design and implement AML policies, procedures, and controls, keeping abreast of evolving regulatory requirements and industry best practices.
  • Conduct regular risk assessments and audits to identify potential AML risks and vulnerabilities, and implement appropriate mitigating measures.
  • Provide training and guidance to internal teams on AML compliance requirements, transaction monitoring techniques, and reporting obligations.
  • Collaborate with internal stakeholders, external partners, and regulatory authorities to address AML-related issues and implement effective solutions.
  • Represent the company in regulatory examinations, audits, and inquiries, providing documentation and support as needed.

Requirements:

  • Bachelor's degree in finance, accounting, business administration, or a related field. Advanced degree or relevant certifications (e.g., CAMS, ACAMS) preferred.
  • Minimum of 10 years of experience in AML compliance within the fintech, payment gateway, travel card, or banking industry, with a focus on international remittance and transaction monitoring.
  • Expertise in setting up AML processes from scratch, policy making, and establishing compliance procedures.
  • In-depth knowledge of AD2 and FEMA RBI regulations governing foreign exchange transactions and cross-border remittances.
  • Strong understanding of transaction monitoring techniques and tools, with experience in implementing transaction monitoring systems.
  • Excellent analytical, problem-solving, and communication skills, with the ability to collaborate effectively with internal and external stakeholders.
  • Proven track record of managing AML compliance programs, conducting risk assessments, and driving process improvements.
  • Ability to work independently, prioritize tasks, and manage multiple projects simultaneously.
  • Proficiency in English; knowledge of additional languages is a plus.