Compliance:Transaction Monitoring Team

Compliance: AML Head STR Management & Reporting - VP

INTERNAL USAGE:

No. of Vacancies:

1

Reports to:

Deputy Principal Officer

Is a Team leader

Yes

Team Size:

15

Grade:

Head STR Management & Reporting

Business:

Corporate Centre

Department:

Compliance

Sub-Department:

AML

Location:

Mumbai

About Compliance

The Compliance department assists the Board and Top Management in managing the compliance risk, that is, the risk of legal or regulatory sanctions, financial loss or reputational loss that the Bank may suffer because of its failure to comply with the applicable laws, regulations, or code of conduct applicable to banking activities. It ensures strict observance of all statutory provisions in various legislations such as Banking Regulation Act, Foreign Exchange Management Act, Prevention of Money Laundering Act, Reserve Bank of India Act, etc. as well as the regulatory guidelines issued from time to time, the standards and codes prescribed by BCSBI, FEDAI, FIMMDA, etc. and the Bank's internal policies and fair practice code

AbouttheRole

The Head - STR is responsible for overseeing the end-to-end Suspicious Transaction Reporting, ensuring timely, accurate, and regulator-compliant identification, investigation, approval, and filing of STRs. The role ensures strong governance, regulatory adherence, quality assurance, and continuous enhancement of STR processes across the organization.

Key Responsibilities

1. STR Process Ownership and Governance

.Own and manage the organization wide STR, including investigation standards, escalation, and approval protocols.

.Ensure timely filing of STRs with regulators in line with timelines.

.Act as the approver for STR filings.

.Maintain strong documentation, audit trails, and defensibility for all STR decisions (filed and non-filed).

.Review and validate s flagged as potentially suspicious for STR escalation.

.Recommendation of all STR Cases with appropriate gist to enable PO to take final decision on STR. Ensuring AML closure TAT to less than 30 Days.

.Final recommendation of STRs to Principal Officer with strong analytical justifications and documentation.

.Ensure proper governance, quality assurance, and timeliness of all STR submissions.

.Maintain MIS and tracking mechanism for STR lifecycle including follow-up actions and feedback.

.Periodic review of rejected STRs to ensure submission within timelines.

.Oversee detailed analysis of s escalated from Transaction Monitoring, EDD, branches, and other channels.

.Ensure investigations cover customer behavior, transaction patterns, product risk, and typologies.

.Challenge investigation outcomes to ensure sound rationale, consistency, and regulatory alignment.

2.Transaction Monitoring & Management

.End-to-end ownership of transaction monitoring s across systems with continuous oversight of volumes, quality, and closure.

.Define, review, and optimize scenarios based on typology trends and risk assessments.

.Ensure timely review, escalation, and documentation of s in line with internal SOPs and regulatory requirements.

.Conduct periodic trend analysis and develop actionable insights for effectiveness.

.Implement risk-based segmentation and intelligent prioritization for queues.

3. Regulatory & FIU Engagement

.Act as key liaison for all communication with FIU-IND, RBI, and law enforcement bodies on STRs and AML queries.

.Participate in regulatory meetings and audits related to transaction monitoring.

.Timely Management of regulatory inspections, audits, and thematic reviews related to STR processes.

.Support compliance leadership in regulatory reporting and board-level updates

.Lead efforts for documentation readiness and audit trail management for all regulatory submissions.

4. Quality Assurance & Continuous Improvement

.Establish STR quality benchmarks, sampling frameworks, and thematic reviews.

.Track and remediate quality issues, repeat observations, and regulatory feedback.

.Drive process enhancements, automation, and system improvements in STR workflows.

.Identify emerging money-laundering and terrorism-financing typologies and embed learnings into investigations.

.Proactively identify emerging risks, behavioural patterns, and red flags through data analysis and review.

.Collaborate with BIU and Risk Teams for case correlation and further investigation inputs.

.Review and assess complex typologies such as TBML, structuring, layering, and circular transactions.

5. Team Leadership & Capability Building

.Lead and mentor STR investigators, reviewers, and team leads. Define training programs on typologies, red flags, and regulatory expectations.

.Maintain resource planning to ensure balanced distribution of workload and timely handling of s

.Ensure adequate staffing, productivity, and skill coverage across STR volumes.

.Foster a strong risk and compliance culture within the STR function.

Qualifications

Optimal qualification for success on the job is:

.MBA / Postgraduate with Banking experience of 15+ years

.AML Related Course/ Programme Certification is desirable.

Role Proficiencies:

.In-depth understanding of AML regulations, STR requirements, and typology-based monitoring.

.High judgment and decision-making capability for sensitive cases

.Strong documentation and analytical skills

.STR timeliness and regulatory compliance

.Quality and defensibility of STR decisions

.Regulatory/audit observations related to STR

.Team productivity and investigation quality

.Reduction in repeat findings and escalation.

.Strong experience in STR drafting, review, escalation protocols, and regulatory filing requirements.

.Proven track record of managing regulatory interactions with FIU-IND, RBI, and law enforcement.

.Strong analytical acumen for pattern recognition, behavioural anomaly detection, and investigative insight.

.Excellent leadership and mentoring skills with the ability to drive performance and accountability.

.Experience in handling large data sets, MIS generation, and thematic reporting for internal and external stakeholders.

.Ability to drive cross-functional collaboration with Compliance, Risk, Operations, and Technology teams.

.Imparting trainingonvarious scenarios, patterns, developmentsforknowledge enhancement

.High focus on quality, attention to detail, and proactive issue resolution.

.Ensuring timely submission of various Regulatory Filings to FIU-IND, RBI. Regular submission ofMIS to the Senior Management and various other verticals.

AboutAxis

Incorporated in 1994, Axis Bank is one of India's most trusted banks & the third largest in the private sector. At Axis Bank, customer centricity has always been the foundation of our business. Our efforts to address the requirements of a diverse customer cross-section are powered by robust infrastructure, advanced technology, a comprehensive monitoring & control framework & a large talent pool.

The Bank has a young & engaged workforce of over 70,000 employees, with an average age of 30 years. We are an equal opportunity employer & believe in empowering our employees by offering rich roles, learning opportunities & flexibility to chart their career, their way.