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The Role of Anti-Money Laundering Goals among Commercial Banks in Promoting Employee Task Performance: Feedback as a Mediator

Liao Minchao, Gao Zengan, and Jin Jiamin
School of Economics and Management, Southwest Jiaotong University, Chengdu, China
Abstract—Under the guidance of the current risk-based anti-money laundering (AML) regulation, the performance of bank employees in AML work is under pressure and becoming increasingly important. The aim of this survey of 608 employees in commercial banks involved in AML work in China was to identify the factors involved in the internal regulation that promote higher task performance of AML employees. Applying goal setting theory to the AML context in banking sectors, this paper uses a SEM model to investigate the relationships between AML goal clarity, goal challenge, feedback of the work, and employees AML task performance. Results indicate that AML goal clarity, goal challenge are both positively associated with AML task performance. Furthermore, feedback is also an important mediator which should be assigned to a banks internal control system that promotes employees AML task performance. It is concluded that setting a clear and challenging AML regulatory goal is significant in the AML internal control system in banking sectors. Also, commercial banks can possibly make an important contribution to bring about compliance feedback process internally with their employees for AML work, and also externally with the supervision from the government. By implementing adequate communication, employees AML task performance would be promoted, and thereby improve the effectiveness of daily stressful AML compliance work in banking sectors.

Index Terms—Anti-Money Laundering (AML), Commercial banks, Risk-based approach, Task performance, Behavioral management, Internal Control

Cite: Liao Minchao, Gao Zengan, and Jin Jiamin, "The Role of Anti-Money Laundering Goals among Commercial Banks in Promoting Employee Task Performance: Feedback as a Mediator," Journal of Advanced Management Science, Vol. 10, No. 4, pp. 104-114, December 2022. doi: 10.18178/joams.10.4.104-114
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