Permanent AML Transaction Monitoring Investigation

Job description

What is this position about?

The Compliance function is at the heart of BNP Paribas' risk management.

One of the pillars of the Group's internal control setup, Compliance teams work both independently and in close partnership with the Business teams to adapt to the evolution of the Group's activities and the requirements of the regulators.

Compliance teams contribute to maintaining the reputation of BNP Paribas and the trust of our clients, thanks to their strong control of non-compliance risks, allowing everyone to work with confidence.

The purpose of this AVP role is to support the APAC Wealth Management Transaction Monitoring L2 Hub team in demonstrating the highest standards of Anti-Money Laundering (AML) practices, while ensuring adherence to regulatory requirements and internal policies.

As a key member of the APAC WM Compliance team, you will be responsible for promoting a proactive approach to risk management, identifying areas for improvement, and implementing effective solutions to mitigate risks.

In the absence of the WM TM L2 Lead, you will assume leadership responsibilities, overseeing case management, providing strategic guidance, and driving team initiatives to drive a culture of compliance excellence.

What would be your typical day at BNPP Paribas look like?

In this role, you will

Review of Transaction Monitoring alerts (L2 investigations)

• Conduct L2 transaction monitoring review to identify and investigate suspicious activity in Wealth Management business based on policies, procedures, and all available information.
  
  
• Undertake investigations on escalations from Internal referrals (i.e. UAR) and External Trigger.
  
  
• Preparation of suspicious transaction memo for cases with STR recommendation.
  
  
• Ensure proper documentation and record-keeping of reviews and investigation cases, in accordance with Group and HO standards.
  
  

Identification and Management of Compliance Risks

• Maintain a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal typologies, and emerging trends.
  
  
• Collaborate with the local teams on the development of AML controls, processes, and procedures to ensure the operational/transactional risks within Wealth Management are effectively identified and mitigated.
  
  
• Identifying and managing ML/FT risks by ensuring timely escalation to Compliance Management for overdue alerts, alert backlogs and alerts identified with ML/FT risks and implementing monitoring measures where required.
  
  

Timeliness of (alert) review

• Ensure all alerts and escalations are reviewed in a timely manner, according to the review timelines stipulated in the relevant policies and procedures.
  
  
• Ensure timely escalation of overdue alerts and suspicious transactions to the relevant teams.
  
  

Quality of alert review and comprehensiveness of closure comments

• Ensure the law and spirit of the relevant policies and procedures are observed.
  
  
• Ensure review and alert closures are conducted in line with the guidelines provided under the L2 SOP.
  
  
• Timely remediation of second level control findings.
  
  

Transaction Advisory, MIS Reporting and other support

• Provide transactional advisory to Front Office.
  
  
• Provide support in maintaining statistics for AML-related reporting (e.g. Net Reveal, SSW and Fircosoft) to both internal and external parties.
  
  
• Participate in the periodic review of scenarios and thresholds, in particular the calibration and testing, in liaison with IT support and Head Office.
  
  
• Provide support on projects pursuant to management requests or necessitated by events such as local & global internal audits and periodic inspections by the regulatory authorities
• Maintain accuracy in all AML-related reporting (including TM statistics) and discharge the above duties in a responsible manner.
  
  

What is required for you to succeed?

• Ability to work independently and meet deadlines.
  
  
• Experience in and strong understanding of AML, Sanctions, governance and regulatory control frameworks and best practices.
  
  
• Have a good knowledge of Policies, Procedures and Standards relating to Financial Crime Compliance, as well as knowledge of the local regulations and legislation on AML/CTF (e.g MAS626) and sanctions.
  
  
• Ability to act decisively and independently in situations requiring quick analysis and decision-making.
  
  
• Strong written and communication skills.
  
  
• Able to articulate issues clearly and confidently, as well as solutions-oriented.
  
  
• Have to be comfortable in engaging internal and external stakeholders, and senior management.
  
  
• Strong analytical skills and an ability to prioritize, with a strong sense of urgency.
  
  
• Meticulous and details-oriented.
  
  
• Good awareness of risks and controls: able to address conflicts and escalate risks/issues where appropriate.
  
  
• Strong client focus and able to work in partnership with various stakeholders to navigate complex and challenging cases/issues.
  
  
• Good understanding in WM/PB business and products.
  
  Prior experience in other bank business line (i.e. CIB, Correspondent Banking, Global Markets) is a plus.
  
  

Specific Qualifications Required

• A recognized degree in Banking/Finance/Accountancy or related qualifications.
  
  
• AML/Compliance certifications will be advantageous.
  
  
• At least 5-7 years of experience in compliance, preferably for Wealth Management.
  
  
• Relevant experience in financial crime investigations will be preferred.
  
  

As the leading European Union bank, and one of the world's largest financial institutions with an uninterrupted presence in the region since 1860, BNP Paribas offers a wide range of financial services for corporate, institutional and private investors spanning corporate and institutional banking, wealth management, asset management and insurance.

We passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued and encourage applicants of all backgrounds, including diversity of origin, age, gender, sexual orientation, gender identity, religion applicants who may be living with a disability.

We have a number of internal employee networks in place to empower our staff to act and challenge the status quo.

•BNP Paribas PRIDE is highly active in favour of the LGBTQIA+ community

•BNP Paribas MixCity which fosters better representation of women at all levels of the organization

•Ability, the mutual aid network for employees with a disability or a disabling or chronic illness

•BNP Paribas CulturAll which celebrates diverse backgrounds

BNP is committed to financing a carbon-neutral economy by 2050.

The Group is a founding member of the Net-Zero Banking Alliance and has set up its own Low Carbon Transition Group to support its clients through their energy transitions.

Award Obtained

BNPP has won Top employer Europe award in a 10th consecutive year.

Required Skill Profession

Other General