Bank Of America Sr Team Member 

India, Haryana, Gurugram District 

670620376

Process Overview

Currency Reporting unit is responsible for filing of Currency Transaction Report & Designation of Exempt Person along with saving Monetary Instrument logs. CRU is involved in monitoring of cash activity and perform customer due diligence to fulfil Bank Secrecy Act requirements. Currency Reporting Unit performs following functions:

• CTR Large Currency Reporting - Files Currency Transaction Report to comply with Bank Secrecy Act which requires every financial institution to report all cash transactions greater than $10,000.00 to FinCEN. This may be single or aggregated transactions that occur on the same business day for the same individual/ business. Such transactions include, but are not limited to, deposits, withdrawals, purchases of negotiable instruments, wire transfers (funded by cash), currency exchanges, loan proceeds.

• Monetary Instrument Sales – Reviews & files MIS log for all customers who does daily cash purchase of negotiable Instruments between $3,000 and $10,000.

• Exemptions - Performs KYC due diligence on commercial client to grant or revoke exemption from filing Currency Transaction Reporting as per Bank Secrecy Act. The team performs review on existing client on annual frequency along with approve/decline exemption for new client through New Request.

Job Description

• Analyst is required to research & identify the reporting status of Monetary Instrument Logs

• Update transaction information along with customer information on the LCR system as per the procedures

• Status the transaction as per procedure

Responsibilities

• Identify, research and status records captured by the system

• Request MIS Log information as necessary from banking centres

• Mark Error to Financial Centres for incomplete/missing MIS information

• Status transactions captured by the system and records input by banking center associates

• Report potential suspicious activity when it is discovered

Requirements*

Commerce Graduates (preferably Hons.)/ Finance Graduates

CertificationsIf Any

AML related

Experience Range

1 to 6 Years (External)

Foundational skills

• Communication Skills – Written & Verbal
• Knowledge of Money Laundering and its importance to Current Banking Operations Landscape
• Knowledge of AML/KYC
• Knowledge of Banking domain

Desired skills

• Attention to details
• Computer literate and have intermediate knowledge of Excel
• Team Player
• Willing to work on rotational shifts.

Work Timings

16:30 – 01:30