Vice President Team Lead Of AML KYC Advisory And Surveillance Operations Legal Compliance And Secretariat

About DBS

DBS Bank has been present in India for 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them ‘Live more, Bank less’. In November 2020, erstwhile Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. DBS Bank India now has a network of :500 plus branches across 19 Indian states.

Job Purpose And Requirements

The Head of AML/KYC Advisory & Surveillance Operations position is a holistic role covering various aspects of internal and regulatory requirements – leading the AML/CFT/KYC/CDD process and risk for the Bank; cater to AML/CFT transaction surveillance unit, ensuring sanctions compliance and continuous upliftment of preventive and detective controls; besides handling the regulatory aspects of PMLA and RBI KYC Directions. The candidate will independently manage the AML/KYC/Sanctions/Transaction Surveillance, function as the alternate Principal Officer and report to the Executive Director, Principal Officer & Head Financial Crime Compliance.

In the role, the candidate will handle the development and implementation of processes and technology systems to detect AML/CFT for the bank in India while working in close alignment with the Group for enterprise-wide solutions, closely collaborate with the Business units and support units in establishing processes and controls around AML/CDD/KYC/CFT/Sanctions.

Execution

• Be responsible for overall management of AML/CFT/Sanctions/KYC Advisory and AML/CFT transaction surveillance activities for the bank
• Ensure that the bank complies with regulatory and internal guidelines related to AML/CFT/Sanctions/KYC/CDD
• Work with stakeholders including business and support units to foster a strong risk and controls culture within the organization
• Manage the team effectively and ensure that team members are highly engaged and facilitate joyful employee experience
  
  

• Develop and implement policies, standards and practices that are necessary to meet obligations pursuant to internal guidelines of the bank and extant regulations catering to AML / CFT /KYC/ Sanctions Compliance obligations
• Assist in RBI Inspections/ audit / compliance related activities. Ensure compliance to all policies and procedures laid down by the bank
• Effective coordination with regulators, internal and external stakeholders. The incumbent functions independently as the alternate Principal Officer and expected to work closely to manage the FIU expectations
• Ensure effective management of key verticals under AML/KYC/CFT/CDD Advisory, AML/CFT Transaction Surveillance Unit
• As a subject matter expert in areas of AML/CFT/KYC/Sanctions, provide appropriate guidance and track implementation of policies and processes across the organization thereby providing a strong second line of defence to business units.
• Ensure development of the team and continue to build a strong and engaged team to manage various activities within AML/CFT/Sanctions/KYC team.
• Design effective staff awareness programs / trainings to maintain and upscale the awareness
• Maintain the policies in line with the Group policies and local regulations
• Ensure appropriate regulatory filings as mandated by the RBI / FIU norms related to AML/CFT
• Manage appropriate leverage of the team and maintain adequate staffing level while driving minimization of false hits and enhancing the operational effectiveness on an ongoing basis
• Maintain and enhance the rules for managing the Money Laundering risk through robust rules covering all scenarios from the FIU of India, besides internal models developed for AML/CFT monitoring including TBML
• Manage Enterprise-Wide Risk Assessment for the Bank in India covering AML/CFT regularly with tracking of follow up actions across the Bank
• Provide regular updates to the Board/Board Committees / Group Committees and country committees on the AML/CFT/Sanctions/KYC matters (including mandatory regulatory coverage of these forums and adhoc updates)
  
  

• At least 10 years’ experience with more than 5 years’ experience in managing financial crime function for financial institution
• Perpetual learner, continuously invests in self-development
• Analyze large volume of data points, identifying issues and recommend solutions
• Superior judgment, diplomacy, and tact, with a willingness to speak up amid adversity
• Strong analytical and problem-solving skills. Ability to multi-task and prioritize workload in a fast paced environment.
• Excellent communication skills and ability to build rapport with both internal and external stakeholders. Open to learning new skills and industry developments.
• Added advantage is specialised certification / qualification is available in the Financial Crime / AML aspects.