Originally Posted by Unregistered (Post 77880)

I think a layman would think there is no difference.

Specifically, regulatory deals with regulators, including communication as well as reviewing regulations issued (i.e. MAS). This may includes regulatory reporting and very often, is part together with advisory.

KYC in most bigger banks is an operational role, whereby the team will review all the KYC information of the clients. In smaller banks, this is part of AML functions.

AML has a lot of by-functions, so similarly, it depends if you are looking at a bigger/smaller banks. In a smaller banks, it covers everything including regulatory, KYC, surveillance, investigations, etc. In a bigger bank, it is more specialized.

Surveillance in general, refers to transaction monitoring. If you are the team that reviews the initial transaction monitoring alerts, they are considered AML operations. If you are the team that design the monitoring scenarios, and/or review the thresholds for optimizations (usually mathematicians), you would be part of the AML functions.

Originally Posted by Unregistered (Post 81200)

what about reviewing of escalated cases from ops/BUs or alerts, and STR reporting to CAD? does this also fall under aml ops? are the skills transferable to advisory roles?

Originally Posted by Unregistered (Post 81353)

Second this. I'm interested to know as well. Purely reviewing cases and decides whether to close or have the respective BUs to follow up and provide more information to substantiate their justifications. Aside from that, also have other compliance/regulatory projects to manage and implement... and also have to oversees other controls involving other BUs including trawling through dealing room chats

Originally Posted by Unregistered (Post 81400)

as long as it's monitoring function it should be aml ops function, especially you only get BU to follow up and dont even file STR. I know some setup where the ops will review 1st level and if deem suspicious will escalate to compliance to follow through (more in depth investigation and file STR thereafter if needed).

Originally Posted by Unregistered (Post 81403)

what does STR filing fall under then?

Originally Posted by Unregistered (Post 81443)

Hi all,

I've recently been offered a fresh grad role under Compliance - Sanctions, would like to find out more about the prospects in this area and for some kind advice from the seniors doing related work in this.

Thanks!

Originally Posted by Unregistered (Post 81400)

as long as it's monitoring function it should be aml ops function, especially you only get BU to follow up and dont even file STR. I know some setup where the ops will review 1st level and if deem suspicious will escalate to compliance to follow through (more in depth investigation and file STR thereafter if needed).