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R0189209 CAO - Anti-Financial Crime (AFC) Testing Officer - Associate

Deutsche Bank
Posted 7 days ago Permanent NA
Posted by
Sandeep Virothu
The Specialist Advisor works under supervision in providing specialist regulatory advice on specific regulatory topics such as embargos and fraud. The Specialist Advisor has regular interaction with a broad range of business and/or infrastructure stakeholders and provides the Senior Specialist Advisors with information on specific topics for the business and/or infrastructure areas they support. They will proactively escalate anomalies and operational risk to their managers to minimise disruption of services.

Details of the Division and Team:

Deutsche Bank AG (“DB” or “Bank”) has established the Controls Testing & Assurance department (“CT&A”) as an independent function, reporting to the Chief Administrative Officer (“CAO”). This group was formed from the legacy Testing and Quality Assurance group in Anti-Financial Crime (“AFC”) and the legacy Compliance Testing group in Compliance (“Compliance”). CT&A performs core regulatory prescribed processes for and on behalf of the Bank for AFC and Compliance. The establishment of CT&A as a separate and discrete function within the CAO Office raises its stature and profile at the Bank. CT&A is organizationally independent, not only, from the businesses and other infrastructure groups such as Risk, Operations, but from AFC and Compliance. The head of CT&A has a direct reporting line into the CAO, who is the Management Board Member of the Bank, who has responsibility for, among other things, Legal, AFC and Compliance. As CT&A performs regulatory-mandated processes for and on behalf of the AFC and Compliance functions, there are protocols (the “protocol”) that set out the overarching principles for and the interactions between CT&A on the one hand, and AFC and Compliance, respectively.

The AFC programme is formulated and directed by the Global Head of AFC. The Global Head of AML/KYC and Business Line AFC reports to the Global Head of AFC and is responsible for ensuring the bank’s AML & KYC framework meets regulatory expectations and these standards are aligned across DB’s businesses. This responsibility extends to branches, subsidiaries and other dependent companies within the respective region (DB Group).

The AFC Testing (AFCT) team, under the overall CT&A Function, is responsible for providing assurance testing on the design and operating effectiveness of the AFC and businesses’ control environment and adherence to applicable AFC, Sanctions & Embargoes and Fraud-related regulations and the Bank’s policies. AFCT develops and executes an annual, risk-based AFC testing plan that covers the risk categories owned by AFC, across all businesses in the region. 

The AFC Testing Officer/ Reviewer role reports into the APAC AFC Testing Head or a senior member in the function. The role’s key responsibility is participating in the design, planning and implementation of a globally consistent 2LoD Testing capability for assuring that the Bank’s controls are robust and correctly executed across the bank. The role requires strong AFC Risk Management experience, with 4-6 years in AFC / AFC Testing/ Audit/Risk and Control in financial services.

You can expect:

  • Flexible benefits plan including virtual doctor consultation services
  • Comprehensive leave benefits
  • Gender-neutral Parental Leave
  • Flexible Working Arrangements
  • 21 days of annual paid leave, plus paidholidays

Your key responsibilities:

  • Play a key role in supporting the execution of the testing program for L1 and L2 controls, potentially including reviews at the non-hub offices; the opportunity for travel to other jurisdictions may be available
  • Participate in the creation of testing plans for areas of identified potential AFC risk
  • Maintain the current Testing approach and methodology consistent and up-to-date
  • Undertake Tests / Reviews/Checks and assessments of the business records in line with the AFC Testing Plan while working in close coordination with the Global AFC Testing & QA team under the wider Controls Testing & Assurance (CT&A) function
  • Prepare reports for submission to the Global AFC Testing teams in hub locations detailing the work performed, findings, conclusions and recommendations
  • Collaboration with various AFC and Business (1LOD) stakeholders to ensure the implementation of adequate and effective testing program for APAC that meet both BaFin and local regulatory requirements
  • Liaising regularly with relevant businesses, Business Line AFC Compliance and other colleagues to remain abreast of developments as it pertains to AFCT; ensuring stakeholders are aware of the likely impact on the controls testing program and implementing changes where necessary
  • Ensuring that all issues raised in AFCT have adequate remediation plans that are tracked and escalated promptly and appropriately
  • Conduct Quality assurance reviews on transaction monitoring processes in the Asia Pacific.
  • Compiling reports and trend analysis in preparation for discussion with key Stakeholders from AFC, Business and GTO functions, identifying key issues and areas for improvement
  • Sharing best practice and learnings with AFCT colleagues locally/regionally/globally
  • Staying abreast of all regulatory developments which may impact monitoring requirements
  • Assisting in the development and maintenance of appropriate Management Information to inform Senior Management of pertinent matters, in line with global Deutsche Bank/Compliance/AFCT standards

Your skills and experience:

  • Minimum 4-5 years of experience in AFC Risks and the ways in which the risks will crystallize in practice, to be able to test adequacy and effectiveness of the AFC Risk Management framework implemented to address those risks; Good working knowledge of international banking business and products, similar to DB’s products and services.
  • Strong understanding and application of relevant AFC, sanctions & Embargoes and Fraud-related regulations and legislations.
  • Strong report writing and issue drafting skills, including the ability to record and describe complex issues clearly and succinctly, in a way that are easily understandable by any recipient of the relevant reports.
  • Assertive, engaging and able to quickly build and maintain effective working relationships.
  • Attention to detail and ability to identify changes and impact of any changes to documents, systems and processes as against AFC risks, remediation required, etc.
  • Role is required to be performed on-site at One Raffles Quay office. Relevant vaccination requirement applies.

How we’ll support you:

  • Flexible working to assist you balance your personal priorities
  • Coaching and support from experts in your team
  • A culture of continuous learning to aid progression
  • A range of flexible benefits that you can tailor to suit your needs
  • Training and development to help you excel in your career
Job ID  R0189209
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