Anti-Money Laundering Analyst

Company Description

PBCOM offers a broad suite of financial solutions, ranging from Deposits and Investment Services, to Cash Management Solutions, Commercial and Personal Loans, and Life Insurance. Founded in 1939, PBCOM has its roots in Binondo, Manila and now has more than 80 branches located across Luzon, Visayas and Mindanao. The Bank is focused on building its capabilities to cater to new markets and provide innovative financial solutions and distinctive customer service.

Role Description

This is a full-time on-site role for an Anti-Money Laundering Analyst at Philippine Bank of Communications (PBCOM) located in Makati. The Anti-Money Laundering Analyst will be responsible for conducting due diligence, analyzing financial data, and ensuring compliance with sanctions regulations.

Specifically, this role provides assistance to the Anti-Money Laundering Team Head and Chief Compliance Officer in overseeing the effective implementation of the implementing rules and regulations of R. A. No. 9160 as amended by R. A. No. 9194; R.A. 10167; R.A. 10168 and other AMLC, BSP, SEC anti-money laundering regulatory requirements.

Job Duties

• Ensures compliance by all responsible officers and employees with AML Rules, as amended, the RIRR and the MTPP
• Administers and manages the implementation of the Bank’s Anti-Money Laundering (AML) policies and procedures in compliance with Know-Your-Customer (KYC) guidelines
• Monitors compliance of all banking units with the Bank’s Money Laundering/Terrorist Financing Prevention Program (MTPP).
• Coordinates with the Anti-Money Laundering Team Head and Chief Compliance Officer, reports on covered and suspicious transactions to the Anti-Money Laundering Council/Bank ’s Anti-Money Laundering Committee.
• Responds to all AML and KYC inquiries of local and foreign banks
• Reviews/evaluates/recommends enhancement of the AML Base 60 system, the Bank’s electronic monitoring system for covered and suspicious transactions; KYC requirements; profiles; etc.
• Ensures timely dissemination of all AMLC requests for information and implementation of freeze orders, APO, PAPO, etc.
• Evaluates Suspicious Transaction Reports for submission to AMLC as submitted by reporting units;
• Evaluates alerts under new scenarios/workflows that will detect potential money laundering activities
• Evaluates disposition of alerts
• Monitors ageing alerts
• Updates the Bank’s AML Money Laundering/Terrorist Financing Prevention Program (MTPP) Manual and the AML Base60 User’s Manual, when necessary.
• Addresses BSP AML ROE findings.
• Evaluates existing processes, policies and procedures of the Bank’s Compliance and implementation of the following major requirements such as:

Ø Customer identification process including acceptance policies and on-going monitoring processes

Ø Record keeping and retention

Ø Covered Transaction Reporting

Ø Suspicious Transaction Reporting including the adoption of a system, electronic or manual of:

o flagging, monitoring and reporting of transactions that qualify as suspicious transactions or

o flagging, monitoring, and reporting transactions that will raise a red flag for purposes of conducting further verification

o flagging, monitoring, and reporting transactions involving amounts below the threshold to facilitate the process of aggregating them for the purpose of future reporting of such transactions to the AMLC when their aggregated amounts breach the threshold

• Prepares BAMLC Reports.
• Ensures that corrections and corrective measures are put in place to minimize, if not to prevent, occurrence of similar findings related to AML.

Qualifications

• College graduate of any business course
• With at least 2 years experience in the same role and in the banking industry
• Strong analytical skills and finance background
• Effective oral and written communication skills
• Good business presentation skills
• Proficient in MS Office applications
• Good project management skills
• Good interpersonal skills to coordinate with regulatory bodies (i.e. BSP / SEC / AMLC) and internal customers