Head of AML Operations
About Citco Bank
Citco Bank Nederland N.V. ("CBN") is looking for a Head of AML Operations. The products and services of CBN address the individual needs of our clients: to protect, preserve, and enhance assets in a secure and confidential environment. Our experienced bankers provide international businesses with comprehensive investment and banking services. The Citco Banks also offer custodial services for investments in offshore funds, trading services in global markets, and account administration for International banks.
The Citco Group of Companies is a rapidly expanding, global organization specialized in fiduciary services, fund administration and other financial services on behalf of multinational companies, private equity and real estate firms, private investors and/or their advisors. Presently our organization employs almost 7,000 people in more than 45 countries worldwide. This function can be located in Willemstad (Curacao) as well.
The Head of AML Operations is leading the AML Operations department at Citco Bank Nederland. The AML Operations department covers all 3 European banking locations (Netherlands, Dublin, Luxembourg). The AML Operations team is responsible for monitoring and screening of clients and transaction of clients in compliance with the Anti Money Laundering regulations. The Citco bank is currently in the process of implementing a new monitoring system.
- Manage the day to day activities and responsibilities of the team and hands-on lead a global team of currently five AML Operations Officers.
- Monitoring clients' activities, which includes handling the alerts reported by the AML monitoring system as well as maintaining and modifying the risk profiles of clients in this system as a consequence of the monitoring process.
- Analyzing possible patterns based on the results of the monitoring and screening process in order to gain a better insight in the risk profile of our client base.
- Clearing or investigating possible matches as generated by the scanning application that CBN uses to scan its clients and their transactions against international sanctioned names and countries.
- Investigating and completing high quality internal reports on identified unusual transactions for reasons of money laundering or other possible violations of the law, and reporting these to the compliance officer for reporting to the Financial Intelligence unit
- Thoroughly and succinctly document this analysis related to the monitoring activity for an audience that includes Management, Regulators, Internal Audit, Senior Managers and Internal Compliance.
- Communicate effectively and efficiently with relevant internal and external stakeholders to obtain relevant information and documents
- Specific projects which may arise from time to time.
- Bachelor degree in law or business administration or a related discipline.
- Extensive experience with AML operations as described above.
- Understanding of IT impact of data analysis, such as data warehousing, interfacing etc, and ability to liaise with the IT department to improve monitoring and screening systems. Understanding of data mining would be beneficial.
- Minimum 5 years experience in financial service industry or similar business in a AML environment
- Understanding of AML and CTF framework
- Have a good understanding of payments and bank transactions as they occur in core banking systems.
- Compliance qualification would be an advantage.
- Excellent English communication skills, both verbal and written.
- Ability to work independently and also to liaise with other departments.
- Good knowledge of Microsoft office applications.
We offer you:
A challenging job in a rapidly expanding international company with an informal company culture. There is the opportunity to expand your knowledge with excellent prospects for a further international career in one of our worldwide offices. We also offer a competitive compensation package.