Job description / Role
- Assisting with the development, implementation, and maintenance of an anti-money laundering program.
- Ensuring compliance with current AML regulations, and other relevant laws.
- Developing and maintaining a risk assessment framework for products and services, clients and customers, and other issues relating to money laundering.
- Monitor and control activities that are considered higher risks.
- Completing reviews of customer due diligence documentation and formation relating to the clients and their beneficial owners.
- Conduct analysis of customer transactions 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 AML risk.
- Receiving suspicious transactions relating to money laundering and terrorist finance from internal departments of the Branch, and taking necessary actions for collection of information about it, analysis of the data collected, and making necessary decision for taking appropriate action, which should be documented in writing.
- Reporting suspicious transactions to the FIU, when suspicions have been determined, in accordance with established requirements, supported by a detailed technical report on the suspected case.
- Ensuring that staff, comply with the instructions and procedures pertaining to accounts monitoring; and ensuring that employees understand the importance of such procedures and instructions as well as the importance of the adopted procedures for suspicious activities and reporting requirements.
- Preparation and submission of periodic reports regarding the activities conducted by AML Officer as well as the general status of the Branch and its various departments.
- Responding to all SAMA's circulars and requests relating to customer accounts statements and blocking, and preparation of the required information in the proper form and timeframe.
- Maintaining a database comprising all data relating to money laundering and terrorist financing matters in the Branch, such as the suspicious cases reported, blocked accounts, etc. and updating of all the old cases in the database.
- Participation in the Financial Crimes and Money Laundering Committee.
- Participation in the process of educating and training all the Branch’s staff categories and all customers segments.
- Prepare the AML questionnaire as internal control when entering a new relationship with a financial intuition
- (Carrying out the task of reporting sanctioned clients as per the lists of the Security Council Committees and the committee of (2253/1989/1267/1988), and Security Council Resolution No. 1373 to SAMA.
- Carrying out the task of reporting sanctioned clients as per the lists of the Security Council Committees and the committee of (2253/1989/1267/1988), and Security Council Resolution No. 1373 to SAMA.
- Reporting to the Compliance Manager
- To develop and ensure effective implementation of policies, plans, and procedures to combat money laundering and manage, coordinate, and monitor the day to day anti-money laundering compliance programs.
- Maintain the organization's obligations as its related to the supervision and reporting of money laundering activities.
About the Company
National Bank of Pakistan is largest state owned bank operating in Pakistan. It has redefined its role and has moved from a public sector organization into a modern commercial bank. The Bank's services are available to individuals, corporate entities and government. While it continues to act as trustee of public funds and as the agent to the State Bank of Pakistan (in places where SBP does not have presence).
National Bank of Pakistan has built an extensive branch network with over 1313 branches in Pakistan. It has agency arrangements with more than 3000 correspondent banks worldwide. Its subsidiaries are Taurus Securities Ltd, NBP Exchange Company Ltd, NBP Capital Ltd, NBP Modaraba Management Company Ltd, and CJSC Bank, Almaty, Kazakhstan. It has recently opened a subsidiary in Dushanbe, Tajikistan.
The bank has global presence having 23 overseas branches in 11 countries. The bank also has a representative office in China and Canada.