Job Purpose:
To lead the implementation and oversight of the risk and control framework for the bank's customer onboarding and KYC lifecycle. The role is responsible for enhancing key processes, acting as a primary control approver, monitoring high-risk activities, and driving initiatives to update SOPs and systems, ensuring full regulatory compliance and operational efficiency.
Key Roles & Responsibilities:
Operational Responsibilities:
- Oversee the consistent execution of risk and control activities within the customer onboarding, KYC remediation, screening, and invoice clearance processes.
- Ensure all risk control procedures are adhered to across key services, maintaining up-to-date documentation such as SOPs and checklists.
- Review daily operational activities, including screening and transaction analysis, to confirm alignment with risk appetite and internal policies.
- Support the timely clearance of FCM screening alerts by reviewing and discounting false positives while escalating true matches appropriately.
- Maintain data integrity and confidentiality in compliance with the bank's information security and operational risk standards.
- Coordinate with internal audit and and risk assurance teams by providing accurate and timely information related to operational controls.
Risk Management Responsibilities :
- Lead risk assessments related to customer onboarding, ongoing KYC reviews, and transaction monitoring to identify, evaluate, and mitigate operational risks.
- Ensure effective screening and prescreening procedures are implemented, open source platforms, and internal databases.
- Oversee the risk reassessment process for customers with expired or updated KYC documents, ensuring appropriate mitigation measures are applied.
- Monitor and manage the FATCA/CRS update process, verifying documentation accuracy and validating Tax Identification Numbers against KYC records.
- Analyze operational risk trends and prepare risk reports to inform senior management and support decision making.
- Ensure the closure of accounts with expired KYC documents in line with bank policies and regulatory guidelines.
Leadership Responsibilities :
- Manage and mentor the Risk & Control team, setting clear objectives, providing coaching, and supporting their professional growth.
- Promote a culture of strong risk awareness, controlling ownership, and continuous improvement within the team and wider business units.
- Lead coordination with cross functional stakeholders, including Compliance, IT, Operations, and Business Units, to enhance risk controls and process efficiency.
- Drive initiatives to automate and streamline risk control processes, including system upgrades and process reengineering efforts.
- Lead the update and communication of SOPs and control checklists to reflect changing regulatory requirements and internal policies.
Other Responsibilities:
- Ensure effective management of the invoice clearance process for foreign currency transactions by reviewing screening outcomes and validating supporting documentation.
- Oversee the preparation and submission of risk related reports, dashboards, and key performance indicators to senior management.
- Participate in special projects, audits, and system implementations that impact risk and control environment.
- Facilitate periodic training sessions for staff on risk awareness, KYC standards, and operational controls.
- Perform any additional duties assigned by senior management related to risk management, governance, or operational control enhancements.
