Job Title: AML Specialist Bank Level Sr. Associate (300)
Legal Entity: State Street Corporate Services Mumbai Pvt Ltd Business Line AML Compliance
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $33.99 trillion in assets under custody and administration and $2.81 trillion* in assets under management as of September 30, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
- This figure is presented as of September 30, 2018 and includes approximately $28 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
Business Line Information Anti-Money Laundering (AML) Program & Sanctions and Embargoes (S&E) Services:
State Street and its subsidiaries ("State Street") are committed to combating money laundering, terrorist financing, and other financial crimes and complying fully with all applicable laws and regulations designed to combat money laundering in the jurisdictions in which it does business. State Street is also committed to complying with economic and trade sanctions administered and enforced by governments and supranational bodies, including, among others, the sanctions programs and designated sanctions lists administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council, and the European Union
Purpose of Role:
Investigation of alerts generated in Automated transaction monitoring tool on a day-to-day basis as allocated using internal and external research tools and determining suspicious transaction activity. Escalate any identified unusual/suspicious activity
- Develop a strong understanding of State Street’s Anti-Money Laundering program, policies and procedures, and requirements.
- Execute the accurate processing of different types of alerts in accordance with standard operating procedures.
- Proactively interact with and coordinate with global AML teams.
- Suggest process improvements to achieve improved efficiency and accuracy.
- Providing training to the analysts and solving the day-to-day queries
Level of Education/ Specific Qualifications:
Bachelors/ Master’s degree
CAMS (Certified Anti Money Laundering Specialist) certification (desirable)
2 – 4 years relevant experience in AML transaction Monitoring
Knowledge of working in an Automated Transaction Monitoring System
Primary Skills (Must have)
Communication - Writes clearly and correctly; structures information to meet the needs and understanding of the intended audience.
Learning and Researching - Rapidly learns new tasks; demonstrates an immediate understanding of newly presented information; gathers comprehensive information to support decision making.
Results Orientated - Focuses on customer needs and satisfaction; sets high standards for quality and quantity; monitors and maintains quality and productivity; works in a systematic, methodical and orderly way; consistently achieves project goals.
Analytical Ability - Analyzing the underlying reasons of compliance-related issues and/or misconduct events; identification of systemic causes of issues.
Secondary Skills (desirable)
Planning and Organizing - Sets clearly defined objectives; plans activities and projects well in advance and takes account of possible changing circumstances; identifies and organizes resources needed to accomplish tasks; manages time effectively; monitors performance against deadlines and milestones.
Creation and Innovation- Developing training that is legally sound, addresses source of compliance risk, and drives desired employee behavior.
- Strong communication – verbal and written
- Ability to adapt and respond to change
- Problem solving/stakeholder management skills