Nirmalakshi Chinta

Profile includes -

Assisting the Principal Compliance officer in the various activities related to

• Transaction monitoring

• Reporting

• Training

• Quality assurance

• Client Risk assessment

- The responsibility includes preparing of necessary reports on a monthly basis to be submitted to FIU India. Clearing the escalated alerts in the transaction monitoring queue for all types of cards. Provided required enhancements for the current monitoring system.

The role includes designing of AML Policy framework, Training and Functional assistance in providing software enhancement to various clients.

Provided consultant services for Dubai Fintech startup - Remit now. Services rendered with regards to Legal and compliance advisory. Responsibilities include drafting AML policy for the Payment service Provider in line with the Regulatory requirement. Assisted with regulatory requirement in terms of the product launch. Assisting senior management in understanding the vulnerabilities of the products in terms of ML/TF, to assess the risk before the launch.

The role demands for an expert knowledge of PMLA Act and RBI guidelines on Banking Institutions, OFAC, FATF.

Monitoring transactions on all types of products of the customer with an observation on complex patterns and trends with a special attention to heightened risk category clients. Checking the flow of funds from source to destination and escalating if suspicious activity is identified. To report anomalies related to money laundering, terrorist financing, drug trafficking and other associated crimes. Preparing the report as a SAR ready document with all the relevant information to file SAR (suspicious activity report) and escalate the alert to be triaged and reviewed further. Conducting security checks of customer base against the World Check database (a database of Politically Exposed Persons (PEPs) and heightened risk individuals and organizations). Conclude or refer if further investigation is warranted based on a reasonable assessment. Adhere strictly to company policies and regulatory standards and following OFAC, EU, UNSC etc sanctions lists while working on sanctions cases. To undertake a thorough and detailed process of investigation on Special Category Clients (SCC), especially politically exposed persons (PEPs), Banks, Retail Business Units, Money service businesses, Casino’s etc., to circumvent reputational and regulatory risks. Training new recruits and submitting reports on a daily basis. Performance of internal quality checks on the alerts processed by the team. Leading the team as a Project lead and assigning the tasks to team members.

Contributions to the department -

• Applications enhancement resulting in efficiency and reducing risk related to internal controls

• Process improvement ideas to reduce the non- value added steps

• Involved in procedure drafting and in testing of new applications launch

• Gave full-fledged on the job training to new recruits and floor support to the team

• Received awards and certificate of appreciation for suggesting process improvement ideas.