Global Funds Transfer (Gft) Aml Compliance Risk

About the role:
The Anti-Money Laundering Compliance Risk Management (ACRM) function is the second line of defence in mitigating money laundering and terrorist financing risks for Citi and its customers in the global marketplace. Citi’s ACRM team draws on deep expertise, strong risk management skills and applicable business knowledge to actively identify, assess and manage AML risk across Citi’s clients, products and geographies. ACRM is an effective and trusted information source to the business on AML laws, regulations, policies, practices and works with other AML partners on the design, development, and refinement of the Citi AML Program. The group is responsible for assessing complex issues, structuring potential solutions and driving to effective resolution with business stakeholders while providing credible challenge of business products, processes, and systems.

The Global Funds Transfer AML Compliance Risk Management (GFT ACRM) team works with global and country AML, Sanctions, and Legal colleagues to provide advice and guidance to business Product Development, Payment Operations, and Technology teams. Support covers a range of areas including compliance with AML regulatory and legal requirements, client implementations and payment processing rules, assessment of operational structures for new products and services, guidance and oversight for transformational technology/infrastructure initiatives, and review of payment channels and schemes that may result in reputation/franchise risk for Citi.

The Global Funds Transfer AML Compliance Risk Management (GFT ACRM) Officer supports the global framework and program structure for the GFT ACRM function. The role holder will assist in the development and implementation of internal procedures to prevent non-compliance with Funds Transfer regulatory and policy requirements and all related payment transparency issues that have an impact on financial crime compliance in coordination with the broader Anti-Money Laundering (AML) team.

The primary objective of this role is to utilize established disciplinary knowledge and methodologies to identify inconsistencies in payment data resulting in payment transparency issues, and formulate strategic recommendations on the policies, procedures, and practices of the relevant Product Development and Payment Operations, and Technology teams to ensure the relevant regulatory and policy requirements are consistently met.

Responsibilities:

• Support the development of a global framework, including drafting policies, standards, and procedures for the execution of GFT ACRM oversight and challenge for Product Development, Payment Operations, and Technology teams.
• Provide support to cross-LOB teams including Product Development, Payment Operations, and Technology, to implement global payment transparency standards and best practices and document known country variations within country regulatory environments related to FATF-16/Funds Transfer Regulations.
• Provide global Product Development, Payment Operations, and Technology teams with day-to-day support on payment transparency regulations applicable to new products and services, client implementations, and payment processing.
• Analyse payment data and metrics presented by the Business, prepare and present reports related to payment transparency and associated compliance risks, and monitor related issues, escalations, and corrective actions.
• Perform proactive assessment of compliance with payment transparency requirements and engage Product Development, Payment Operations and Technology teams to agree/execute remediation plans.
• Utilize information from global regulatory changes, new regulations, and internal policy changes to further identify new key risk areas.
• Develop approaches/action plans to compliance and control issues by weighing various alternatives and balancing potentially conflicting situations.
• Support the development and deployment of Global Funds Transfer and related training for relevant Product Development, Payment Operations, and Technology teams as needed.
• Provide support and oversight for cross-functional ad-hoc AML projects, including leading on project work streams as needed which arise from time to time out of regulatory or environmental changes.
• Collaborate with global stakeholders including AML Technology, Monitoring Risk Management and Operations to mitigate AML and Terrorist Financing risks.
• Any other responsibilities as required

Experience:

• Relevant experience in AML compliance, risk, or a control-related function within a medium or large Financial Institution.
• Significant experience within payments and cash management businesses, with a particular focus on product management, development, operations, and technology functions.
• Knowledge of AML laws and regulations including a general and broad understanding of key AML and reputational risks (PEPs, Sanctions, AB&C, etc.) required.
• Knowledge of payment indust