Competency Details ( Anti-Money Laundering )

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Competencies

Jadarat Dictionary

Anti-Money Laundering

Efficiency Technical Competency

Maintains and applies knowledge of anti-money laundering and CTF requirements to analyse compliance risks that the organisation may be subject to. Identifies and quantifies risk factors to facilitate the development and implementation of approaches for mitigating these risks as well as the provision of necessary internal and external documentation and reporting.

Jadarat Code: T03

Level 1

Demonstrates basic knowledge and understanding of the laws and regulations related to AML and CTF, and follows the procedures of reporting and/or escalating any suspicious transactions to the concerned team.

Level 2

Possesses specialised knowledge of the AML and CTF requirements and recognizes the criticality of preventing terrorism financing and money laundering activities. Outlines the various types of money laundering and terrorism financing activities in the industry and communicates to own team and peers for their awareness.

Level 3

Carries out the due diligence process to identify, assess, and mitigate the AML/CTF risks of conducting business with the client. Recognizes any suspicious situations and transactions and reports concerns to the appropriate parties, in accordance with the AML/CTF procedures.

Level 4

Applies full professional expertise to detect, manage and mitigate any potential and suspicious money laundering and terrorist financing activities. Shares knowledge and expertise towards the development and implementation of policies and procedures that comply with the AML/CTF regulations.

Level 5

Demonstrates subject matter expertise to develop and implement company-wide training and awareness program, related to the AML/CTF laws and regulations. Provides guidance to the organisation to identify and quantify the risk factors and improve the internal procedures and controls to mitigate in compliance with the AML/CTF requirements.