Shehnila Iqbal
Summary
Highly experienced and driven Financial Crime Risk Specialist with expertise in delivering robust AML/CTF frameworks in the financial services sector. Ability to implement effective Financial Crime policies and systems supported by a collaborative approach to achieving business-appropriate solutions for meeting regulatory AML/CTF obligations. Skilled at delivering clear, concise directives with a proven track record in fostering valuable relationships within teams and stakeholders at all levels. Equipped with strong problem-solving abilities, willingness to learn, and excellent communication skills. Excel in developing efficient processes, ensuring high standards, and aligning efforts with organizational goals. Renowned for a collaborative approach and commitment to excellence.
Overview
14
14
years of professional experience
Work History
Senior Consultant/ Product Owner (Financial Crime)
National Australia Bank
02.2023 - Current
- My key focus is to provide leadership across operations, technology and customer divisions by driving the transformation and ultimate success of NAB's financial crime service
- This role is integral to achieving a number of the key objectives within Financial Crime Operations and requires excellent co-ordination and stakeholder management skills
- Encouraged collaboration between the NAB and the Ubank FCO teams and identified vulnerabilities relating to systems, process, people capability and training needs
- This includes uplifting all SOPs, process flows and technology needs to uplift Ubank to NAB SUP 11 Compliance Standard
- Reviewed and challenged existing Ubank FCO's aging Treatment Plans and assisted in re writing 14 new treatment plans to bring Ubank up to NAB's SUP11 compliance requirements by October 2024
- Actively supporting FCO Manager to identify gaps and risks within their processes and uplifting them to industry standards
- Identifying and designing control gaps in Ubank FCO and uplifting them to ensure risk is being managed
- Assisted the Detection and Innovation team at NAB to design NAB's new Financial Crime Decisioning Platform (FCDP)
- Ensured all partners in business and technology delivered key outcomes on very tight deadlines
- Led enhancements on 7 new targeted cash TM scenarios (NAB), delivering enhanced focus on ML/TF typology coverage
- As a result, 10 existing TM scenarios were decommissioned
- Assisted FCO with deployment of six new rules addressing existing gaps on Rapid movement of funds (RMF)
- Executed the Financial Crime Operations team's Financial crime compliance business plan by designing a 10 week Accelerated Training Program with Deloitte which delivered intensive Financial Crime training to 60 internal/external candidates
- Training included understanding of customer type and associated ML/TF typologies, identifying and investigating financial crime risks, actioning alerts and submitting SMRs to AUSTRAC
Senior Risk Manager- Line 1 Risk (Financial Crime)
AMP Group
11.2021 - 01.2023
- Provide risk expertise to the business in the identification, assessment, and actioning of risk and controls to drive a strong risk and controls culture that helps achieve business objectives
- Provide insight and recommendations to the Board on Financial Crime key risks and control issues within all products and channels across AMP
- Provide insight and support in group initiatives, considering key risks and control issues within material projects, new products, non-standard governance processes, new business, and significant process changes
- Collaboratively completed Product, Channel and Financial Crime Risk Assessment with Financial Crime Compliance (L2)
- Complete, review and challenge, Change Assessment for AML (CAAML) to mitigate the ML/TF risk posed by the introduction of business/IT changes
- Successfully manage Incidents, Issues and assist with Breach assessments for Financial Crime Operations at AMP and ensure all evidence is adequately stored in AMP's Group Risk and Compliance system
- Proactively assist Internal Audit (L3) by providing adequate auditable records to for closure of Internal Audit findings
- Successfully leading a proactive risk and control culture using data where possible to generate insights and influence the development of controls
- Successfully identified, designed, and documented controls and Controls Framework for Financial Crime Operations team
- All controls were successful in passing the DE and OE testings
- Proactively identify risks, complete root cause analysis, impact analysis, drive remediation and provide relevant updates in Governance Forums and Committees
- Partner with Financial Crime Compliance in completing AUSTRAC Audit and provide Line 1 responses and remediation for AUSTRAC CAR (Compliance Assessment Report)
- Contribute to the design of FCC policies and frameworks that support better customer outcomes, as well as input into the successful delivery of FCC initiatives
Manager Risk & Control Advisory and Delivery- Business Banking
Commonwealth Bank of Australia
03.2021 - 10.2021
- Ensuring the Group has appropriate strategies and frameworks in place to build, assess, manage, and mitigate financial crime and compliance risks
- Provide SME financial crime advice and support to the Business Banking and Enterprise Services primarily on issues relating to Money Laundering, Terrorism Financing, Predicate Crimes, Bribery & Corruption, Tax Evasion, Sanctions, Transaction Monitoring, Politically Exposed Persons, and High-Risk Customer Escalations
- Working closely with Financial Crime Compliance in completing AUSTRAC Audit
- Proactively assist Financial Crime Compliance (L2) in completing Product, Channel and Technology Financial Crime Risk Assessment on CommSec products
- Currently working on implementing TM Controls for CommSec to detect potential money laundering, fraud, tax evasion to address the AUSTRAC industry white paper
- Proactive management and reconciliation of risks to RiskInSite
- Complete root cause analysis on identified risks, complete impact analysis and drive remediation
- Worked on several remediation projects on CommSec customers for the purpose of uplifting AML/CTF Part B requirements including uplift in KYC, Beneficial Owners and signatories, date of birth issues etc
- Provide advice and management for on boarding and managing risks associated with various business types
- Proactively worked with CommSec Adviser Services team to review and uplift Adviser on-boarding Services
- Complete AML/CTF, AB&C and Sanctions risk assessment and assist the Group's Legal team in drafting relevant AML/CTF, AB&C and Sanctions risk clauses to be added to legal divestment agreements
Manager Investigations, High Risk Customer Escalations
Commonwealth Bank of Australia
07.2018 - 02.2021
- Key person to the Financial Crime Operations function, providing oversight in a highly regulated and fast paced environment to enable the group to manage its financial crime risks effectively and efficiently (in relation to the Groups High Risk Customers)
- Partnered closely with CBAs Financial Crime Intelligence Unit (FCIU) to work on various projects including highly confidential terrorism financing reviews, confidential and complex Money laundering and drug syndicates, investigations on high profile customers including PEPs with adverse media, criminals exploiting multiple businesses
- FCIU led Fintel Alliance projects which resulted in various arrests across Australia
- These included: Child exploitation related offenders (CEM), Illegal wildlife trafficking, Dismantling of criminal fraud syndicates, Illicit drugs, transnational crime, and firearms syndicates, Serious and organised crime
- Successfully assisted with AUSTRAC Audit
- Provided end to end review of the audit files presented to AUSTRAC Auditors
- Developed a specialised team of highly skilled Investigators (Senior analysts and PORs) responsible for executing intelligence assessments and highly confidential investigation reports relating to complex financial crime matters
- Responsible to assess and respond on intelligence requests from AUSTRAC and AFP (Chapter 75 and Section 167s)
- Identified deficiencies and drove enhancements to the Groups AML/CTF program
- Subject matter expert and escalation point of contact for internal stakeholders to address complex financial crime issues and incidents across business and stakeholders
- Drafted and published HRC Escalation guidance document for the HRC Escalations team and drafted end to end process flow for the projects team to enable them to deliver the release of the Jarvis Terminations and upcoming Jarvis ECDD
- Provided valuable insights and updates for Governance reports for Customer Exit Committee, Regulatory and Control Operations Risk Forum, Group Operations Non-Financial Risk Committee and Regulatory and Control Operations Committee
- Proactively identified and developed controls to enable compliance with the Group's financial crime policy framework
- Managed all controls and controls testing within the business by reviewing and providing oversight to ensure controls are effectively designed, documented action plans, and completed root cause analysis
- Enhanced the team's capability by training and coaching them on AML/CTF and other financial crime legislations including key challenges, risks, trends, and regulatory expectations
Point of Reference
Commonwealth Bank of Australia
04.2018 - 06.2018
Manager RBS Financial Crime Portfolio Optimisation
Commonwealth Bank of Australia
02.2018 - 03.2018
Senior Analyst AML/CTF Operations
Commonwealth Bank of Australia
11.2015 - 01.2018
Senior Analyst- AML Investigations
Abu Dhabi Commercial Bank
05.2012 - 04.2015
Compliance Officer
Abu Dhabi Commercial Bank
08.2010 - 04.2012
Skills
- Certified AML/CTF Professional with extensive regulatory subject matter knowledge and expertise in Financial Crime and Risk
- Strong people management skills
- 12 years’ experience in AML/CTF Operations / advisory within financial services
- Excellent co-ordination and stakeholder management
- Dynamic result oriented professional
- Efficiency focused with strong analytical skills and Problem-solving capabilities
- Designing and managing Risk and Controls within Financial Crime teams
- Resilient team player, known to work well under pressure
Education/Certifications
- Master of Anti Money Laundering and Terrorism Financing - Charles Sturt University, Australia
- AUSTRAC Financial Intelligence Analyst Course (FIAC Module 1 & 2) – AUSTRAC
- Certified SAFe 5 Product Owner/Product Manager - Scaled Agile Inc
- Certified Anti-Money Laundering Specialist (ACAMS) - USA
- International Diploma in Anti Money Laundering - ICA (International Compliance Association)
- International Diploma in Compliance - ICA (International Compliance Association)
References
Available on request.
Timeline
Senior Consultant/ Product Owner (Financial Crime)
National Australia Bank
02.2023 - Current
Senior Risk Manager- Line 1 Risk (Financial Crime)
AMP Group
11.2021 - 01.2023
Manager Risk & Control Advisory and Delivery- Business Banking
Commonwealth Bank of Australia
03.2021 - 10.2021
Manager Investigations, High Risk Customer Escalations
Commonwealth Bank of Australia
07.2018 - 02.2021
Point of Reference
Commonwealth Bank of Australia
04.2018 - 06.2018
Manager RBS Financial Crime Portfolio Optimisation
Commonwealth Bank of Australia
02.2018 - 03.2018
Senior Analyst AML/CTF Operations
Commonwealth Bank of Australia
11.2015 - 01.2018
Senior Analyst- AML Investigations
Abu Dhabi Commercial Bank
05.2012 - 04.2015
Compliance Officer
Abu Dhabi Commercial Bank
08.2010 - 04.2012
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