Nirmal Kumar P

KYC Deviation Reviews: Conduct in-depth reviews of customer cases to identify any deviations from KYC (Know Your Customer) requirements, ensuring that customer profiles and turnovers are updated accurately and in a timely manner.
Dormancy Regulation Compliance: Oversee the implementation of dormancy regulations as mandated by the Central Bank. Take necessary actions for dormant accounts (inactive over five years) as per regulatory requirements, which includes closing such accounts and transferring unclaimed balances to the Central Bank on a quarterly basis.

Duplicate CIF Project Leadership: Lead the initiative to eliminate duplicate Customer Information Files (CIFs). This involves coordinating with various departments to identify and rectify instances of multiple customer IDs, ultimately ensuring that each customer has a single, unique ID.

Risk Register Maintenance: Responsible for maintaining the risk register, ensuring all identified risks are documented, assessed, and monitored consistently.

RCSA Completion: Ensure the timely completion of the Risk and Control Self-Assessment (RCSA) for the business unit, identifying and mitigating potential risks.

Regulatory Reporting: Prepare and submit detailed reports (BRF 103A & 102A forms – Related to dormant accounts) to the Central Bank, ensuring compliance with regulatory requirements.

Team Collaboration: Work closely with cross-functional teams to ensure smooth project execution and regulatory compliance.

Leadership & Mentorship: Provide guidance and mentorship to junior team members, fostering a culture of compliance and regulatory excellence within the team.

Transaction Monitoring: Conducted detailed transaction monitoring to identify and mitigate risks related to money laundering and terrorist financing. This included the use of advanced analytics to flag suspicious activities.

AML/Terrorist Financing Case Reviews: Performed thorough reviews of AML (Anti-Money Laundering) and terrorist financing cases, assessing the risk and determining appropriate actions to mitigate potential threats.

Request for Information (RFI): Coordinated with various business units to gather necessary information and clarifications on flagged cases, ensuring comprehensive case reviews.

STR Filing: Using customer data to detect, prevent, mitigate and recommended for suspicious activity (SAR) with MLRO related to money laundering, terrorist financing, sanctions and structuring when deemed necessary.

Team Management: Managed a team of compliance professionals for over two years, leading them in achieving compliance goals and maintaining high standards of regulatory adherence. Provided training and development opportunities to enhance team members' skills and knowledge in compliance and risk management.

Project Leadership: Led/supported various compliance and risk management projects such as Heightened Monitoring case reviews for SCB UAE region & enhancement of existing monitoring systems, ensuring timely and effective execution.

Stakeholder Engagement: Engaged with key stakeholders to communicate compliance objectives and progress, building strong relationships and fostering a culture of transparency and accountability.