AML Lead

Responsibilities

• Reports to the Chief Compliance Officer
• Acts as Lead officer for purposes of managing, administering, and implementing the AML/CFT Policy of Tonik Digital Bank.  Responsible for leading the AML team fulfill its responsibilities and objectives, such as but not limited to:
  • Identifying the relevant Philippine laws, rules and regulations that have any impact on AML/CFT, analyzing the corresponding risks of non-compliance, and prioritizing the compliance risks (ex. High, Normal, Low).
  • Performing periodic AML/CFT testing with applicable legal and regulatory requirements
  • Conducting prompt and accurate disposition of transaction alerts; making preliminary assessment on trends; and making the appropriate reports.
  • Assessing whether the circumstances surrounding a particular transaction warrant a suspicious transaction report.
  • Preparing and submitting reports on Covered Transaction and Suspicious Transactions to the Anti-Money Laundering Council, and other regulatory reports.
  • Preparing and submitting Reports on Crimes and Losses to BSP.
  • Proactively identifying, documents, and assessing the risks associated with money laundering including:
    • Development of new products and business policies
    • Proposed establishment of new types of business or customer relationship or material changes in such relationships
  • Measures AML/CFT compliance risk (ex. Key risk indicators) and uses such measures to enhance compliance risk management.
  • Liaises with relevant external bodies, including regulators and auditors, as applicable. In particular, the AML/CFT officer maintains a constructive relationship with BSP AMLC and AMLSG.
  • Assesses the appropriateness of the bank’s AML/CFT compliance procedures.
  • Improves the quality and effectiveness of the AML/CFT compliance function; and facilitates its understanding and correct implementation.
  • Signs off on new product/services relating to AML/CFT Compliance. 
  • Oversees the design of an appropriate AML/CFT Policy, promotes its effective implementation, and addresses breaches that may arise.
  • Establishes guidelines on the appropriate implementation of AML/CFT laws, regulations, and standards. Promotes a culture of compliance through briefings, classroom education, and online training on AML/CFT issues.
  • Exercises specific statutory responsibilities, as required by the Chief Compliance Officer.
  • Coordinates, monitors, and submits reports to the Chief Compliance Officer on status of rectifying all AML/CFT audit shortcomings raised by BSP.