Sparkasse Bank Malta plc

Anti-Money Laundering Officer

  • Basis:  Full-Time
  • Closing Date:  15 May, 2021
  • Job Ref:  KMP-59563

Job Description

Sparkasse Bank Malta plc is a licensed credit institution which provides private banking, investment services and custody / depository services.

Our team is formed of young, dynamic professionals who are part of an environment that promotes team spirit and rewards competence.

As a result of our continuous growth, a vacancy has arisen for an AML Officer to join the Account Reviews and Monitoring team within our Anti-Money Laundering department.

The nature and scope of the review and transaction monitoring are predicated upon the information discovered during extensive analysis, therefore the successful candidate will possess sufficient knowledge and experiential skills to decide the extent and parameters of the analysis performed with minimal supervision.

Main Duties and Responsibilities:

  • Perform the due diligence review of existing customers (requesting the KYC information and documentation, reviewing and verifying received documentation and making an analytical risk assessment)
  • Have a thorough understanding of customer’s business and related parties in order to monitor account activities for unusual transactions
  • Conduct initial analysis of customer transactions and relationships using internal / external research tools in order to assess and determine if the transactions are in line with the customer’s profile or if there is reasonable suspicion that the transaction involves money laundering
  • Review of systematic Anti-Money-Laundering and Counter Financing of Terrorism (AML / CFT) alerts generated from the AML transaction monitoring system to determine if transactions occurring are valid AML / CFT risks
  • Perform research taking into account various AML / CFT risk factors and indicators to determine if the alert / case needs to be escalated
  • Undertake prompt closure of eligible alerts not deemed as unusual or suspicious
  • Accurately document rationale for case closure or escalation as appropriate
  • Determine if additional enquiries are required and escalate as appropriate for non / low quality responses
  • Preparation of customer transaction analysis summaries on request
  • Periodically evaluate existing customers according to established policies and procedures
  • Communicate effectively and efficiently with relevant internal and external parties to obtain due diligence information and documents
  • Contribute to team’s effort by meeting KPI’s and SLA’s
  • Maintain a good understanding of the bank’s due diligence policies and procedures, as well as laws and regulations related to AML / CFT
  • Assist in updating and developing internal procedures and processes
  • Manage specific projects which may arise from time to time and work on other tasks requested by the Supervisor and / or Manager

Qualifications / Requirements:

  • Degree level – preferably in law, banking or business administration
  • Certificate or diploma in AML / CFT or an accounting and finance qualification is considered an asset
  • Knowledge of AML / CFT obligations, laws, regulations and directives
  • Knowledge of the FIAU Implementing Procedures
  • Understanding of banking and investment services activities, including comprehension of wealth management, securities, trust structures, corporate structures
  • Minimum 1-year practical experience in AML / CFT compliance, transaction monitoring, banking, audit or other regulatory-related work
  • ECDL certification
  • Analytical and creative approach to problem-solving
  • Ability to work independently
  • Ability to execute due judgment in considering and assessing information
  • Ability to work under stress and time pressure
  • Ability to work well with others and be a team-player
  • Excellent command of English, both oral and written

Extensive training will be provided. Continuous learning is encouraged.

An attractive remuneration package will be offered to the right candidate.