Overview
Quality Assurance Senior Associate Jobs in WP. Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia at Boost Bank
Title: Quality Assurance Senior Associate
Company: Boost Bank
Location: WP. Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia
Get to Know the Role:
The AML/CFT Quality Assurance (QA) Analyst is responsible for ensuring that the Bank’s AML/CFT processes are operating effectively and in compliance with both internal policies and regulatory requirements.
The QA Senior Associate will evaluate the quality of the transaction monitoring and investigation processes, ensuring adherence to AML/CFT standards, and play a critical role in identifying areas of improvement to strengthen the digital bank’s compliance framework.
Responsibilities:
Conduct ongoing quality assurance reviews of the bank’s AML/CFT transaction monitoring and suspicious activity investigations.
Assess the effectiveness of AML/CFT controls and processes, ensuring adherence to Bank Negara Malaysia (BNM) regulations and international standards.
Evaluate case handling and decision-making processes related to AML/CFT alerts and investigations, ensuring consistent application of internal policies.
Review a sample of closed alerts and cases to ensure the adequacy and accuracy of investigations, documentation, and the filing of Suspicious Transaction Reports (STRs).
Identify gaps and weaknesses in the existing AML/CFT framework and propose recommendations for process improvements.
Ensure that remedial actions and enhancements are effectively implemented and documented.
Ensure that all AML/CFT-related activities comply with local and international regulations, including guidelines set by Bank Negara Malaysia (BNM) and FATF (Financial Action Task Force).
Keep updated with changes to AML/CFT laws and regulations and ensure the bank’s compliance practices remain current and effective.
Conduct regular testing and audit reviews of AML/CFT systems, including transaction monitoring tools and screening systems, to ensure they are functioning optimally.
Assist in the development and execution of QA testing plans, ensuring the identification of potential compliance risks.
Collaborate with external and internal auditors to facilitate regulatory reviews and examinations.
Prepare detailed reports and dashboards based on the results of QA reviews, providing insights into the performance of the AML/CFT program.
Present findings to senior management and the compliance team, including key trends and issues requiring attention.
Ensure effective communication between the AML/CFT team, transaction monitoring analysts, and other departments to support a cohesive compliance framework.
Requirements:
Bachelor’s degree in Finance, Law, Economics, Business Administration, or a related field.
Professional AML/CFT certifications (e.g., ACAMS, ICA) are highly preferred
Minimum 3-5 years of experience in AML/CFT compliance, transaction monitoring, or quality assurance, preferably within a digital bank or financial institution in Malaysia.
Experience working with AML/CFT regulations specific to Malaysia and knowledge of BNM guidelines.
Strong understanding of AML/CFT regulations, BNM guidelines, and international standards (FATF).
Proven experience with transaction monitoring systems and case management tools.
Analytical mindset with attention to detail and the ability to detect compliance risks.
Excellent written and verbal communication skills, particularly in preparing and presenting reports.
Ability to manage multiple priorities in a fast-paced digital banking environment.
