APAC AML Regulatory Reporting Compliance Officer – VP (Hybrid)
Kuala Lumpur, Malaysia
Job Req ID 22585369Overview
Our international footprint will give you access to unique intelligence and decades of experience. And by joining our Anti-Money Laundering team – one of the most international areas at Citi – you will touch every aspect of the company and make critical decisions for our clients, for your career, for every employee, and for the business.
Success Profile
- Analytical
- Detail oriented
- Leadership
- Communicator
- Relationship expertise
- Persuasive
Glassdoor Reviews
Responsibilities
The APAC Anti-Money Laundering (AML) Regulatory Reporting Compliance Officer is responsible for overseeing the requirements, and providing the appropriate governance and oversight related to local currency and other AML-related transactional regulatory reporting in alignment with the firm’s AML Regulatory Transaction Reporting (RTR) Standard. This role is responsible for the support of, and continuous improvement to, a globally consistent control framework surrounding the tracking and management of reporting processes, data completeness, quality assurance and metrics within Citi, all in accordance with local law requirements.
This role is part of the AML Regulatory Reporting team which, in turn, forms part of the AML Risk Frameworks and Reporting Pillar within Citi's AML Program, reporting to the Senior Compliance Officer responsible for governance and oversight of APAC’s AML Regulatory Reporting Program. This team is responsible for the design and execution of the Regulatory Reporting framework that is integral and fundamental to the AML Program across Citi.
Responsibilities:
- Assists APAC AML RTR Head in executing the oversight and delivery of the AML Regulatory Transaction Reporting activities governed by the Global AML Regulatory Reporting Program
- Provide expert advice on requirements set forth in the firm’s AML Regulatory Transaction Reporting Standard and local procedures.
- Act as subject matter expert and provide credible challenge and coordinate, as necessary, discussions between stakeholders across Citi’s footprint: Regulatory Reporting Contacts, the Business, Business Technology, Independent Compliance Risk Management (ICRM), AML Monitoring Risk Management, AML Technology, and any other potentially impacted functions.
- Support the APAC AML RTR Oversight Forum, which includes: collecting, consolidating and presenting the required reporting elements from business partners; arranging the preparation of meeting minutes (key discussion topics, decisions and action items); and, tracking the status of action items following the APAC AML RTR Oversight Forum meeting.
- Hosts periodic regional regulatory reporting governance forum and incorporates into an existing committee or forum as a standing agenda item, in order to enable socialization and oversight to each country’s local requirements. The standing items should include an assessment of metrics containing elements and meeting the reporting requirements in established regulatory reporting policy and standards to identify risk or anomalies
- Analyze control measures and recommend enhancements to reporting capabilities and process deficiencies, where applicable.
- Assess and identify emerging risks and recommend program enhancements.
- Escalate critical matters, including regulatory reporting and issues/action items, to the appropriate AML and appropriate Business Risk forums for awareness.
- Monitor corrective actions involving AML regulatory transaction reporting.
- Assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
- Review and assess results of Country Regulatory Reporting Contact assessments and validations related to local law changes and local regulator requests re-filings, regulatory reporting metrics, Issue/CAP details and progress, any updates to regulation management, QA/MCA results, etc. as appropriate
- Review key RTR metrics to identify patterns of activity, outliers and opportunities for RTR process enhancements.
- Understand and monitor the legal, regulatory and industry practices environment as it relates to RTR; provide up to date knowledge and expertise relevant to AML compliance and the businesses.
- Verifies countries which do not have a local regulatory reporting-related requirement to remain out of scope. In the event an out-of-scope country’s regulatory obligation changes to include tracking and/or reporting, the regional Regulatory Reporting Contact must assist the country to identify a Country Regulatory Reporting Contact and provide guidance for the country’s related regulatory reporting process(es). In addition, the Region Regulatory Reporting Contact must inform the AML Program Reporting Office of the new country requirement and of the Country Regulatory Reporting Contact
- Ensures that all regional RTR duties are carried out effectively and, in a manner, consistent with established Policies and Standards
Qualifications:
- 8 – 10 years of AML Compliance experience in a sizeable financial institution, with previous experience conducting AML Regulatory Reporting function or within an Internal Audit or Compliance Testing function focused on AML
- 6+ years of Financial Crimes, AML Investigations, or Operational Risk experience
- 5+ years in managerial role in a production or operational environment
- Demonstrated success delivering in a high-volume, goal-based production/operation-based environment
- Preferred additional risk management experience in AML regulatory reporting related matters, experience in stakeholder engagement with AML, Compliance Risk Management, Technology, and other relevant support functions
- AML Certification or additional studies related to AML or financial crimes
- Good knowledge of the laws and regulations relating to AML/CFT, FATCA regulations and practices
- Solid experience reviewing, interpreting, and implementing Regional or Global AML Standards and Procedures
- Good knowledge of financial products is a plus
Education:
- Bachelor's/University degree, Master's degree preferred
Experience:
- Bank Secrecy Act knowledge
- Knowledge of Global Regulatory Reporting Policy and AML RTR Standard and country-level regulatory reporting requirements in the APAC region
- Knowledge of Citi’s IA and Compliance Testing methodologies and ability to drive engagement with all key stakeholders
- Ability to drive targeted reviews and identify key risk areas for effective AML regulatory reporting risk mitigation
- Excellent knowledge of regulatory reporting processes and requirements
- To drive Strategic Programs Implementation and provide oversight; candidate should have demonstrated experience in Change Management, Strategic Business Analysis and Process Reengineering. Deep knowledge of Citi’s AML related systems and tools to effectively influence the process enhancements
- Be able to work with cross functional areas, e.g. AML, Compliance Risk Management, Technology and country-level stakeholders to drive changes
- Enforce Global Standards for AML Regulatory Reporting, measure performance on a periodic basis and highlight any risk areas with key stakeholders
- Solid leadership skills and ability to direct and motivate staff with integrity and ethics
- Interpersonal skills and ability to work well in a team environment collaborating across diverse groups
- Experience in creating and implementing processes across AML/BSA related groups
- Strong mentor, tutor, coach for Country Regulatory Reporting Coordinators
- Ability to motivate staff, improve newly developed processes and identify opportunities for improvements to efficiency, productivity, and quality control
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Job Family Group:
Compliance and Control-------------------------------------------------
Job Family:
AML Core------------------------------------------------------
Time Type:
Full time------------------------------------------------------
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We foster a culture that embraces all individuals and encourages diverse perspectives, where you can make an impact and grow your career. At Citi, we value colleagues that demonstrate high professional standards, a strong sense of integrity and generosity, intellectual curiosity, and rigor. We recognize the importance of owning your career, with the commitment that if you do, we promise to meet you more than half way.
Innovation Through Diversity
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A Day in the Life at Anti-Money Laundering: Naomi Ferdinand
Interested in learning more about working in Anti-Money Laundering at the world's most global bank? Hear from our employees as they share their stories and insights.
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A Day in the Life at Anti-Money Laundering: Rose Sayre
Interested in learning more about working in Anti-Money Laundering at the world's most global bank? Hear from our employees as they share their stories and insights.
Success Stories
Get inspired and hear what employees who started their careers in AML have to say about Citi
How did you begin a career in Compliance/AML?
I fell into AML when I was working for another financial institution as a support person for a Relationship Manager, which included KYC support. Very quickly the KYC/AML component took over the role, and I decided to develop my expertise in AML by obtaining formal AML qualifications (ACAMS, AFMA AML/CTF diploma).
What does your day-to-day job entail and what do you like most about it?
There is a lot of variety as I have an advisory role, which essentially means that I provide advice to the business on ML/TF/sanctions risks in connection to what they do. We sit on many governance meetings held by various business lines, and also have business meetings on a specific client or product where AML oversight is required. Our function also reviews a lot of documents, including KYC escalations, policies, and procedural documents, and any exception to these must be approved by our team.
What do you enjoy most about your role?
I really enjoy the variety in the role and the fact we have so many internal stakeholders. There are lots of opportunities to learn about banking products and operations.
What skill set does someone working in this kind of area need?
Technical knowledge of the AML regulatory and risks environment and understanding how payments/banking products work is essential. Good analytical and writing skills are also important, as we write and review a lot of data and documents. I find it valuable to be inquisitive – part of our job is to ask a lot of questions to understand what you are being asked to provide advice on. Finally, creating positive relationships with stakeholders is beneficial, as we need to engage, challenge, and develop a sense of trust with the business to achieve a true partnership.
What advice would you give to someone looking to break into a career in AML?
The AML sector is a competitive one, as it is in high demand as more focus is placed on AML compliance. Having AML-related qualifications such as the ACAMS certification, qualifications in financial crimes or AML helps.
Where can a career at Citi take you?
As Citi is global bank, it is possible to transfer to other roles in our regional hubs or even at global head office in the US!
What makes Citi a good place to work?
What I like about working at Citi is the fast-paced environment; there is always something going on. Citi offers me flexibility and is supportive of my work-life balance. I also like the little perks such as company discounts and the free gym!
Nuri
Operational Risk Manager/ AML M&I Managers Control Assessment (MCA) Program Lead
Tenure at Citi: 7 years
How does your role/department impact the larger organization?
My department is responsible for governance of the Managers Control Assessment process for all AML monitoring and investigations functions, which is the medium mechanism for the company to execute their controls. Our coverage is global.
How did you begin a career in Compliance/AML?
I started as an AML analyst. I am native Turkish and, at that time, CSC Poland was looking for Turkish speakers for a migration on AML monitoring from Turkey to Poland.
What does your day-to-day job entail and what do you like most about it?
My current position is a self-contributor role. On my day-to-day work, I need to ensure that all required reports are generated on time and shared with the senior management. Since our program is the main control program within Citi, it is critical that reports are produced correctly and delivered in timely manner.
What do you enjoy most about your role?
I like to speak with different people all around the globe. Moreover, my role allows me to have insight into all processes in functions supported by us. The exposure to the whole AML environment gives me a helicopter view of the AML Department. At the same time I have the opportunity to see the details of all teams and processes, which allows me to gain a greater knowledge and perspective on AML in Citi.
What skill set does someone working in this kind of area need?
You need to have analytical skills. You need to be open and have a transparent approach. Since you are going to be in contact with several people all around the globe, you need to be patient. It would be beneficial to be self-initiator and persistent. Sense of ownership is valuable as well; any idea, even the best, can be forgotten if not driven with confidence.
What advice would you give to someone looking to break into a career in AML?
Be focused, be analytical, be innovative, and continue challenging during your investigations. Own your initiatives and don’t limit yourself. Try to understand and learn more about the organization while improving your network among different departments.
Where can a career at Citi take you?
I want to give an example here to show you the scale of the opportunity. My Belarusian direct report moved to Poland to study and then got employed by Citi as an AML analyst. He moved forward in his career and he got a position in the AML Quality Assurance team. He was sent to Geneva for 3 months assignment to support the process. He was very successful, hence was offered a position there. That meant he was to be the very first QA team member there. After two successful years in that position, he moved to a compliance role with a promotion.
What makes Citi a good place to work?
Citi is good place to work due to several reasons. It is truly a multi-cultural organization. Regardless of your position, you are always in touch with people from all around the world. That leads us to the second reason. Citi is truly a global organization, having locations and branches in many countries. Having those two major properties, Citi is one of the best employers, offering almost limitless development opportunities to its employees.
This is just a small example from the huge Citi world; therefore, Citi is not only a good, but a great place to work!
Do you take part in any volunteering, special programs, or leadership development opportunities and/or participate in any Employee Networks?
It is pivotal and highly encouraged to any Citi employee to be active and use opportunities provided by Citi. Personally, I have actively participated in the volunteering week for the last 5 years. I had the chance to attend several self-development courses and special programs.
I have completed many Citi course trainings offered to me. I was also selected in 2016 to participate in I Lead – AVP program, which is a special curriculum for high-performance AVPs from various business functions who are gathered and given assignments to real applicability projects with the task of proposing solutions.
I co-chair Citi Pride Network for CSC Poland. At the moment of filling this questionnaire, our network is still under establishment, but surely not for much longer! I also take active roles in Poland disABILITY and Poland Multicultural employee networks.
I graduated Management in Warsaw School of Economics (specialization, Human Resources Management) with a master’s degree. In 2016, I obtained ICA International Advanced Certificate in AML issued by International Compliance Association.
How does your role/department impact the larger organization?
My department is responsible for transaction monitoring. Our main responsibility is to mitigate the risk of laundering money and terrorist financing.
How did you begin a career in Compliance/AML?
Before I joined Citi, I read a lot about the global issue of money laundering and I decided to continue my career in this area. Additionally, I met a person who recommended Citi as a great employer. When I noticed that Citi in Poland has AML department, the choice was simpler.
What does your day-to-day job entail and what do you like most about it?
I am responsible for six teams that monitor transaction for GCB clients in NAM. The thing I like most is the cooperation with people and looking for improvements in current process.
What do you enjoy most about your role?
As I mentioned earlier, contact with people and looking for improvements. Additionally, I like that each day there are new challenges; therefore, my work is never boring.
What skill set does someone working in this kind of area need?
Ability to manage and develop people.
What advice would you give to someone looking to break into a career in AML?
Even if you don’t have experience in AML, don’t be afraid – apply! We will teach you how to be a great expert in AML.
Where can a career at Citi take you?
Sky is the limit. In AML, you have a chance to learn many things from AML process by reporting to managing people. Everything depends on you how you want to use this knowledge.
What makes Citi a good place to work?
Atmosphere, open-minded people, many opportunities to develop, and many interesting challenges every day.
How does your role/department impact the larger organization?
My team provides long-term trend analysis to support improvements to the overall AML monitoring program. This impacts Citi as a whole by ensuring we meet our regulatory and stakeholder commitments to have a robust, efficient AML program.
How did you begin a career in Compliance/AML?
Prior to working in AML I had worked in mortgage documentation review and check fraud monitoring. Due to my experience in risk management and my technical skills, I was hired to the production support team for AML.
What does your day-to-day job entail and what do you like most about it?
My day is usually split between preparing analyses for presentation and meeting with senior management/compliance officers to share our findings.
What do you enjoy most about your role?
There’s always something new to learn in AML.
What skill set does someone working in this kind of area need?
Since my role is focused on data manipulation and presentation, a strong skill set in SQL, SAS, Excel, PowerPoint, and other manipulation and presentation tools is necessary.
As far as soft skills, being self-motivated, good organization skills, and an inquisitive mind.
Where can a career at Citi/AML take you?
Anywhere! There are tons of opportunity across Citi’s many offices and lines of business.
What makes Citi a good place to work?
Citi has a great culture that emphasizes work-life balance and a wide range of opportunities for personal growth.
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