Yana Banking Services

Deputy Anti Money Laundering (AML) Manager

Job Expired

Job Overview

Report to:

(Supervisor’s Position)

AML Manager
Supervise: (Subordinates’ Positions)  
Internal contacts: Fraud Management, IT, Finance, Operation, Management
External contacts: Vendors, Customers and Clients, Corresponding Financial Institutions


3. Position Purpose Summary:
In order to oversee internal anti-money laundering policies and remain compliant with important regulations, banks, credit unions and similar financial institutions are required to appoint an Anti-Money Laundering (AML) Compliance Officer. As part of the fight against financial crime, governments across the world require their financial institutions to put in place anti money laundering compliance programs; to achieve such, it is necessary to appoint an AML Compliance Officer who will be responsible for AML policy implementation at an institutional level. An AML Compliance Officer’s focus is to oversee internal anti-money laundering policies and remain compliant with important regulations, banks, credit unions and similar financial institutions. Primary task is to ensure that YBS, as NBFI is not exposed to criminal risk, and does not inadvertently facilitate financial crime. AML Compliance Officer must directly report to the AML Compliance Officer and must also be in contact with the Central Bank of Iraq alongside the Anti-Money Laundering and Terrorist Financing Office (Iraq), under AML Compliance Manager’s supervision.


YBS maintains global Anti-Money Laundering, Anti-Terrorist Financing (AML/ATF) and Sanctions Programs, established under formalized policies and procedures. This position is the subject matter expert role for AML, ATF and Sanctions related activities and will oversee and ensure effective execution of those activities across the country. The position is critical in sustaining YBS’s ethical culture and International Compliance Program.


4. Key Responsibilities and Accountabilities:

§  Review or prepare KYC documentation and conduct additional research as required in consultation with regional Compliance officer.

§  Review and investigate transaction monitoring flags

§  Identify, investigate, evaluate and escalate suspicious transactions or trends.

§  Review and investigate Sanctions List matches

§  Identify and record “false positive results,” escalating “true match” results and prepare regulatory filings as required

§  Conduct periodic compliance testing of historical transactions, identifying, high risk transactions, or customers, need to file retroactive regulatory filings and potentially modifying risk profile of customer.

§  Assist with the identification, evaluation, monitoring and mitigation of operational risks; proactively suggesting improvements.

§  Handle follow-up queries on information received with Account Executives and client contacts

§  Ensure appropriate application of client, country and product risk ratings and ensure that accurate records are maintained

§  Monitor clients and provide timely assessments of any change in a client’s AML/ATF risk profile

§  Participate in the management and ongoing enhancement and development of the Global AML/ATF and Sanctions policies and procedures as necessary to ensure changes in the regulatory and the business environment are addresses

§  Participate in the enhancement and development of global systems in support of AML, ATF and Sanctions Program implementation

§  Participate in, and lead when required, AML/ATF and Sanctions team meetings

§  Promptly and accurately prepare and deliver scheduled AML/ATF reporting on Program and workload status and highlight emerging issues. Prepare ad-hoc reports and presentations as required

§  Assist in the administration and review of Client Risk Scoring, Client Identification and KYC documentation oversight requirements. Conducting reviews of client documentation/information submitted by business units; A good understanding of Corporate Documents associated with Offshore Shell Corporations and Foreign Financial Institutions is needed.

§  Responsible for performing KYC/CDD/EDD on new customers and during periodic account reviews.

§  Assist in KYC periodical reviews and refresh of current Client population as needed.

§  Ensure that information obtained is consistent with BSA/AML Policy and Procedures and satisfies regulatory requirements. Follow up and track all documents required to satisfy new account requirements.

§  Escalate high risk issues identified to Management

§  Handle other duties as assigned to assist with the effective administration of the AML and KYC Policies.

§  Previous knowledge in conducting transaction monitoring reviews, deep investigations, and reporting suspicious activity related to money laundering and terrorist financing (SAR filings), including wires and other anomalous activities

§  Support an annual review of the efficiency and effectiveness of the transaction monitoring process.



5. Other Responsibilities

  • Looking after records of high-risk clients and report suspicious activities, if any;
  • Assisting the implementation of an Anti-Money Laundering program of an organization;

§  Assist in the development of compliance initiatives and programs to comply with the respective legal, licensing, and regulatory obligations


§  Handle file reviews of suspicious activity to ensure compliance with the policies and procedures put in place


§  Identify and inform of any changes to legislation and other regulatory requirements relating to AML/CTF



6. Job Requirements and Qualifications
Education: §  Bachelor’s degree in related field (business/finance/ accounting or such)

§  Professional AML/ATF accreditation required: ACAMS Certification- ACAMS is dedicated to enhancing the knowledge, skills and expertise of AML/CTF and financial crime detection and prevention professionals.

Experience: §  1-2 years’ experience within the AML and Compliance Team of a financial services firm (Bank/NBFI)

§  Experience in compliance or related position

§  AML Compliance experience at a Professional Service and/or Banking firm or financial institution

§  Previous experience in managing AML/ABC/Sanctions risks

  • Usage of math skills including multiplying, dividing, and counting using fractions

§  Experience Conducting Transaction Monitoring

§  Experience in investigating sanctions hits

  • The ability to read and interpret documents such as government regulations, internal controls, and instruction manuals;
  • Maintenance of discretion in handling confidential information;
  • Interaction with team members at all levels of the organization professionally, including the ability to speak in front of groups.
  • The ability to work irregular hours and extended shifts, including late nights, early mornings, weekends, and holidays.
Skills: §  Strong interpersonal skills, with the ability to work in a collaborative environment

§  Strong preference for candidates who have prior experience in an internal audit role for compliance and/or AML/BSA functions

§  Solid analytical, critical thinking, and investigative skills

§  Business oriented, positive thinking, honesty, independence mindset

§  Building effective working relationships with key stakeholders such as project managers and business line leaders

§  Experience working with spreadsheets/Excel, data modeling

§  Great Reporting Skills

Knowledge §  Professional and advanced Arabic Language (reading, writing, speaking/listening

§  Good English Language (reading, writing, speaking and listening)

§  Adequate Kurdish Language Knowledge

§  Sound knowledge on AML/ATF typologies and exposure to transaction monitoring applications/systems

§  Good knowledge of industry products, regulations and related AML/ATF trends

Abilities: §  Ability to work to deadlines and under pressure

§  Ability to multi-task and able to work with minimal supervision

§  Intuitive, highly ethical and comfortable to question and challenge when required

§  Highly analytical and self-motivated, adept at working independently and in a dispersed team environment covering multiple and varied tasks



§  YBS ethics and code of conduct.

§  YBS spirit.

§  Diversity.

§  Integrity

Work Environment: §  Office Work (AML and Compliance Department)

§  Remote Working in special cases

§  Meetings and Invitations (CBI, Terrorist Financing Office, Client Banks)

Job Demands: Physical characteristics: §  Able to sit/stand for long periods of time
Other characteristics: §  Ability to present, report and work with others


7. Performance Measures
§ Quality / Accuracy of Reports

§ Confidence / clarity in communication

§ Honesty and Confidentiality

§ AML Manager Evaluation


8. Tools and Equipment
§ Monitoring system – AML system that provides automatic surveillance against money laundering/AML and terrorist financing; the AML module implements requirements of the 3rd EU Money Laundering Directive. The system automatically checks customers against sanction/ terrorist lists.

§ Computer (forms, word, Excel, PowerPoint…etc.).


9. Salary & Terms
§ This is an 8/5 position that requires the ability to work variable hours including weekends and holidays if required. Salary to be discussed and negotiated during interview.

More Information

  • This job has expired!