Team Member - AML-SUPPORT SERVICES-Compliance
Kotak Mahindra Bank — Mumbai, MUMBAI
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Job Description
Job role – Team Member –AML Cell – Compliance
As an Anti-Money Laundering (AML) team member you would be responsible for identifying and monitoring transactions in the accounts as per the PMLA provisions, KYC/AML/CFT guidelines issued by RBI from time to time. The role involves other key activities like:
- Analysis of red flags / alerts generated by AML system to identify potential suspicious activity.
- Analysis of unusual pattern of transactions based on various scenario defined in the system
- Forward AML alerts to branches/respective businesses for carrying out enhanced due diligence and follow-up for ultimate closure of the alerts
- Timely reporting of suspicious transactions and execution of instructions from law enforcement agencies
- Updation of names in negative database as and when applicable
- Preparation and filing of CTR/CCR/NTR/STR/CBWTR Reports to FIU India within prescribed time frame.
- Maintain current understanding of money laundering/ terrorist financing issues including processes, policies, procedures, regulations and developing trends.
- Assist in identifying systemic procedural weakness and additional training requirements/ process revisit if any.
Job Requirements –
- Graduate / Post Graduate with at least three years of Banking experience
- Well versed with functioning of Core Banking System
- Familiar in working on Microsoft office mainly “Excel”. Possessing “V-lookup” skills will be added advantage
- Good communication skills (spoken and written)
- Analytical skills with regard to monitoring of transactions, identification of unusual transactions with an eye for detail will be an added advantage
- Should keep himself / herself conversant with the current developments related to KYC / AML / CFT monitoring
- Additional qualification / certification in AML would be preferred.
Frequently Asked Questions
What are the eligibility criteria for the Team Member - AML-SUPPORT SERVICES-Compliance job at Kotak Mahindra Bank?
Eligibility typically includes the qualifications and experience outlined in the job description above, with around 0-5 Years years of relevant experience expected for this role.
What are the primary responsibilities of a Team Member - AML-SUPPORT SERVICES-Compliance at Kotak Mahindra Bank?
The key responsibilities for this role are detailed in the Key Responsibilities section above, covering the core duties expected of a Team Member - AML-SUPPORT SERVICES-Compliance at Kotak Mahindra Bank.
Is prior experience required for this position?
This role requires around 0-5 Years years of relevant experience, as specified in the job listing. Please refer to the Qualifications & Experience section above for full details.
What skills are important for this role?
Skills relevant to this position are outlined in the Qualifications & Experience section above. In general, strong communication, domain knowledge, and the ability to meet role-specific targets are valued across similar BFSI positions.
How do I apply for the Team Member - AML-SUPPORT SERVICES-Compliance role at Kotak Mahindra Bank?
You can apply directly using the Apply Now button on this page, which will take you to Kotak Mahindra Bank's application process for this role.
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