AML Compliance Officer

A. Job Summary

Under the direct supervision of the Department Head (DH), performs duties and responsibilities related to the policy development and AML electronic system in management and implementation of the Bank's Money Laundering and Terrorist Financing Prevention Program (MTPP), the Anti-Money Laundering Act (AMLA) and its related rules and regulations.

B. Duties and Responsibilities

I. Compliance Program/Plan / Money-Laundering and Terrorist Financing Prevention Program (MTPP)

1. Provides assistance to the DH in the periodic review and updating of the Bank's MTPP;

2. Prepares AML-related policies and procedures that support the Bank's goals and strategies in coordination with Business Systems Division (BSD) and concerned Business Units.

3. Conducts evaluation and review of recommended Bank policies and procedures in relation to AML policies/issues, as directed; and

4. Reviews bank documents, forms and standard service agreements to ensure that all AML-related requirements are sufficiently addressed, and requirements of relevant laws, rules and regulations are considered.

II. Communication and Training

1. Renders advisory service on AML-related matters and responds to queries and requests for assistance by Branches and Head Office units;

2. Designs, develops and prepares AML training materials and conduct lectures on AML laws and regulations in the bank's various training programs;

3. Acts as AML Management Department representative in project deliberations and meetings for new products and services to provide AML-related inputs and to ensure that proposed processes are in compliance with existing AML rules and regulations;

III. Examinations, Audit and Constructive Working Relationship with Regulatory Agencies

1. Assists the DH in handling BSP examination and internal audit requirements

2. Coordinates and monitors the taking of corrective actions on the findings of the BSP during its regular examination of the bank

3. Coordinates with different units and branches with regard to BSP/ AMLC requirements

IV. AML Compliance for Correspondent Bank

1. Responds to correspondent bank's AML questionnaire and KYC requirements;

2. Participates in the periodic due diligence conference calls/meetings with correspondent banks

3. Evaluates domestic and foreign correspondent banks compliance with the requirements of BSP on due diligence based on their responses to Bank of Commerce's AML Questionnaire or AML Disclosure Statement.

C. Qualifications

• Strong background in the conduct of AML risk analysis for products and services and a working knowledge and actual experience in the conduct of institutional risk assessment;
• Solid understanding of the AML regulatory framework to assist in the improvement of processes and practices of the Bank;