AML Transaction Monitoring Officer

Job description

Role Purpose

Reviewing systematic Anti-Money-Laundering (AML) alerts generated from the AML transaction monitoring system and to determine if transacations occurring are valid Anti-Money Laundering risks. Perform research taking into account various AML risk factors and indicators to determine if the alert/case needs to be escalated.

Principal Accountabilities: Key activities and decision making areas

Impact on the Business

Conduct initial analysis of customer transactions using internal/external research tools in order to asses and determine if the transactions seem plausible or if there is reasonable suspicion that the transaction involves money laundering. Identification of suspicious or unusual transactions, non-compliant activity or increased compliance risk.

Accurately document rationale for case closure or escalation as appropriate

Undertake prompt closure of eligible alerts not deemed as unusual or suspicious.

Determine if additional enquiries are required and escalate as appropriate for non/low quality responses.

Preparation of customer transaction analysis summaries on request.

SWIFT AND SIC payment screening against embargo and sanctions lists.

Process requests from other Compliance departments.

To assist on special projects.

Customers / Stakeholders

As requested, provide assistance to AML, On-Boarding team, to On-going Review team and Investigation team.

Leadership & Teamwork

Ensure adequate cover within the AML Transaction Monitoring team to meet the demands of core functions (alert processing etc.).

To promote a collaborative working environment, facilitating the sharing of ideas and knowledge to improve the Team's level of understanding. To acknowledge the needs of the Team and to assist other team members where they are dealing with a high profile, or urgent investigations.

Operational Effectiveness & Control

To avoid alert backlogs.

To remain up to date with HSBC's prevailing standards and Swiss regulatory changes to ensure that an analysis is focused and addresses any regulartory concerns.

Major Challenges

To execute due judgment in considering and assessing negative information pertaining to a party to an account and the potential impact on PBRS, should the instant account be retained with PBRS. Being mindful of not only potential regulatory breaches, but also damage to the reputation of the Bank.

Role Context

As a Compliance Officer within AML Transaction Monitoring, it is anticipated that the nature and scope of transaction monitoring will be predicated upon the information discovered during the analysis. In consequence, it is expected that a Compliance Officer will possess sufficient knowledge and experiential skills to decide the extent and parameters of his analysis with minimal supervision.

Management of Risk

The Transaction Monitoring team play a central role in helping to ensure that those clients whose activities present a risk to the Bank's ability to comply with regulations are detected and escalated accordingly. To this end any analysis should be undertaken independently and objectively, without fear or favour, and with a view to promoting HSBC ideals and values.

Observation of Internal Controls

Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

Role Dimensions

The specific role of Compliance Officer contains no budgetry control element or any fiscal targets.

The core driver is identification and report of suspicious or unusual transactions, non-compliant activity or increased compliance risks

Desired profile

Knowledge & Experience / Qualifications

Knowledge and Qualifications :

Degree level – Preferrably in Law, Banking or Business Administration

Awareness of Swiss rules and guidelines, as well as applicable foreign laws

Understanding of Private Banking activity, including comprehension of Securities, Trust Structures, Corporate Structures

Analytical, well-informed and creative approach to problem-solving ability to work independently and to the highest level of accuracy and accountability

Computer and IT systems literate, good communication and writing skills

Ability to work under stress and time pressure

Self-assertion, good communication skills and interaction with the Front

Fluent in English and German/French (both written and spoken), every additional language is a plus

Experience :

2 years practical experience in Compliance, Banking, Audit or other Regulatory related work.