Megha Saxena
Noida
Summary
Consultant having nearly 9+ years of experience with subject matter expertise in in AML/KYC and Compliance departments. I have extensive working knowledge in the domains of AML Compliance, handling queries from Fincen and LEA, Transaction monitoring, Retail Banking Operations, CDD, EDD, AML/ KYC Client Onboarding, Sanctions, PEP, AML/KYC Operations, and exposure in regulatory and internal Audits.
Overview
14
14
years of professional experience
Work History
Senior Analyst
Mashreq Bank
01.2024 - Current
- Perform AML risk assessments of new and existing customers and clients.
- Maintain a risk-based approach in reviewing high-risk transactions, customers, and jurisdictions.
- Analyze customer transactions to identify potentially suspicious activity, including money laundering, terrorist financing, or fraud.
- Conduct detailed investigations on flagged transactions and escalate cases as needed to management or law enforcement agencies.
- Prepare Suspicious Activity Reports (SARs) in compliance with regulatory requirements.
- Stay up to date with relevant AML regulations and ensure the organization’s compliance with local and international laws.
- Prepare and maintain detailed records of all compliance activities, including audit trails and reports.
- Support audits and regulatory exams by preparing necessary documentation.
- Ensure compliance with KYC regulations by verifying the identity of new clients and conducting enhanced due diligence (EDD) for high-risk customers.
- Review and update customer profiles in line with risk levels and changing regulations.
- Work with automated transaction monitoring systems to review alerts and investigate suspicious transactions.
- Ensure that transaction monitoring systems are configured to meet regulatory requirements and industry best practices.
- Assist in the development and implementation of AML policies, procedures, and training programs for employees.
- Developed comprehensive analytical models to enhance decision-making processes, resulting in improved operational efficiency across departments.
- Conducted in-depth risk assessments and compliance audits, ensuring adherence to regulatory standards and minimizing potential vulnerabilities.
Senior Associate
ROYAL BUSINESS BANK
06.2023 - 11.2024
- Performing Quality Controller role overlooking the alert, SAR and EDD review work, ensuring the team is following up to date policies and procedures.
- Helping the BSA Officer with the monthly reporting for alerts, CIP and EDD reviews required for overall health of the BSA department.
- CIP review for new account openings to ensure the new accounts are opened as per the bank’s policies.
- Assist in performing the research, analysis and investigation of account behavior for unusual activities in accordance with the BSA/AML/OFAC monitoring policy.
- Assist in investigation for subpoenas received as well as accounts with OFAC and FinCEN 314a matches for unusual activities.
- Prepare and file SARs with regulatory timeframes and in accordance with BSA/AML Compliance policies and procedures.
- Assist in preparing EDD analysis for High-Risk accounts with the overall analysis to understand the risk pattern and its mitigation.
- Assist in monitoring of new and revised AML/BSA/OFAC laws and regulations including the regulatory changes.
- Streamlined financial reporting by introducing automated systems, significantly reducing processing time and increasing data accuracy.
- Mentored junior associates in compliance protocols and risk assessment, fostering a culture of continuous improvement and knowledge sharing.
- Led the development and implementation of strategic initiatives, enhancing operational efficiency and compliance in banking processes.
Senior Analyst
Mashreq Bank
08.2022 - 01.2023
- Handling Transaction analysis of entities and individual clients to identify risk, suspicious actions, and trends as per the active alerts. Scrutinizing the details and mitigating the risk.
- Establishing a new Regulatory Risk Unit in India for performing ECDD as per the request received from Central Bank, Dubai and Legal Enforcement Unit and other internal departments to share critical information and handle the queries raised by them as per TAT.
- Oversee the AML governance and assurance functions, including monitoring and testing of AML controls.
- Manage renewals, new business, unplanned due diligence requirements, engaging the needed business partners to support the process.
- Be responsible for ensuring all client records are compliant with Anti-Money Laundering (AML) and Know Your Client (KYC) regulatory standards in a timely fashion.
- Review the collection and verification of data performed to ensure all KYC records are accurate and complete
- Ensure KYC/AML deliverables such as target and due dates are achieved through coordination and collaboration with internal partners and clients.
- Demonstrate ongoing understanding of KYC/AML processes, procedures and supporting technical platforms to work through delays and inefficiencies
- Developed comprehensive analytical models to enhance decision-making processes, resulting in improved operational efficiency across departments.
- Conducted in-depth risk assessments and compliance audits, ensuring adherence to regulatory standards and minimizing potential vulnerabilities.
- Led cross-functional teams in implementing data-driven strategies, significantly optimizing resource allocation and project outcomes.
Protiviti India Pvt Ltd.
10.2021 - 08.2022
- Analyzed transactional information to identify risk, trends, and potential suspicious actions on daily basis. Performing EDD reviews on high-risk business and related entities.
- Performed FCC to check any negative news on triggered entities/individuals on the bank’s inbuilt databases and data available in the public domain.
- Performed QC review on cases performed by level 1 and performed quality checks in disposing of the cases; ensuring the risk is properly mitigated which are aligned with the compliance standards.
- Steered and tracked overall activities of Client Onboarding and escalated suspicious transaction report (STR) filing.
- Steered Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for existing and new clients, including complex corporate structures, using investigative databases like World, Checks, and Lexis Nexis, while assessing client risk levels.
- Knowledgeable in various AML Databases and fraud Investigative tools including World check, SAS AML, Business Objective, EDMS.
HDFC Bank
09.2017 - 11.2019
- Conducted identification screening of prospective clients and projects. Ability to communicate effectively with appropriate parties obtaining and disseminating information while still maintaining confidentiality where necessary.
- Constant review and updating of KYC requirements and applying appropriate tenets for different customers. Develop and execute an action plan for expiring KYC records and ensure no KYC Records are past due based on alerts.
- Used transactional and customer records, external data, publicly- available information, and other information to identify suspicious or unusual activity.
Customer Service Manager
ICICI Bank
05.2014 - 09.2017
- I worked for ICICI Bank Ltd as a Service manager handling customer-centric banking operations. Accountable for handling the day-to-day operation in the branch. Also, have adequate exposure in handling audits by Internal and External Departments.
- Mentoring the team of 5 members so that the team operates effectively and efficiently through appropriate task allocation so that the bank achieves the SLAs day by day.
- Handling AML alerts and KYC for existing and new clients. Review the collection and verification of data performed to ensure all KYC records are accurate and complete.
Associate
HCL Technologies
02.2012 - 07.2013
- Worked in HCL Bcserve for British Telecom in an SQQ Team as a technical officer and provided technical assistance for the issues that are stuck due to technical error or manual error. Played a key role so that there should be no further delay to the queries.
Education
CAMS -
01.2023
MBA Business Administration - undefined
MANIPAL UNIVERSITY
06.2014
B.Tech - E&C
PSIT
06.2011
Skills
Client management
Performance monitoring
Data analysis
Financial modeling
RELEVANT COURSEWORK
Transaction monitoring, Retail Banking Operations, CDD, EDD, AML/ KYC Client Onboarding, Sanctions, PEP, AML/KYC. SAS/VERFIN/LEXIS-NEXIS.
Timeline
Senior Analyst
Mashreq Bank
01.2024 - Current
Senior Associate
ROYAL BUSINESS BANK
06.2023 - 11.2024
Senior Analyst
Mashreq Bank
08.2022 - 01.2023
Protiviti India Pvt Ltd.
10.2021 - 08.2022
HDFC Bank
09.2017 - 11.2019
Customer Service Manager
ICICI Bank
05.2014 - 09.2017
Associate
HCL Technologies
02.2012 - 07.2013
MBA Business Administration - undefined
MANIPAL UNIVERSITY
B.Tech - E&C
PSIT