AML Compliance Director

a) The Principal Officer (PO) shall be an officer at the management level.

b) To avoid conflict of interest, PO should be exclusively for responsibilities as cast under chapter IV of the PML Act and not be actively involved in business or any other operations.

c) PO shall be exclusively engaged with a VDA SP on a full-time basis and PO shall not undertake any simultaneous or concurrent engagement with any other entity in any capacity.

d) PO should have sufficient level of seniority in the chain of hierarchy within the organisation to act on his own authority to carry out his responsibilities without being hampered by corporate bureaucracies and improper influences.

e) PO should be familiar with legal issues surrounding the AML framework and should have relevant experience with appropriate skill set (minimum three years) to fulfil his / her obligations under PML Act, PML Rules and associated regulations.

PO should have thorough knowledge of ML / TF risks and vulnerabilities relevant to the country, his / her organisation and the VDA SPs sector. PO should also be aware of the emerging ML / TF trends and typologies.