AML/KYC Analyst

Job Title: AML KYC Analyst

Job Overview:

The AML KYC Analyst will be responsible for conducting thorough investigations, performing due diligence, and ensuring compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. This role will focus on identifying, analyzing, and reporting suspicious activity related to financial transactions, customer behavior, and account activity.

Key Responsibilities:

1. Customer Due Diligence (CDD) & Enhanced Due Diligence (EDD):

   
   
• Conduct customer onboarding and periodic reviews to verify identity and assess risk.
• Gather, review, and analyze relevant customer information to ensure KYC compliance.
• Perform Enhanced Due Diligence (EDD) for high-risk customers, including individuals or entities from high-risk countries.

2. Transaction Monitoring:

   
   
• Monitor customer transactions for unusual or suspicious activity that could indicate money laundering, terrorist financing, or fraud.
• Review and investigate flagged transactions to assess risk and determine if further action is required.
• Generate and file Suspicious Activity Reports (SARs) when necessary.

3. Reporting and Documentation:

   
   
• Maintain detailed documentation of investigations, reports, and compliance actions taken.
• Prepare reports for senior management, regulatory bodies, or law enforcement when applicable.
• Ensure compliance with internal policies and relevant laws and regulations.

4. Compliance with Regulatory Requirements:

   
   
• Stay up-to-date on the latest AML/KYC laws and regulations, including international and local guidelines.
• Ensure that all compliance policies and procedures are followed during investigations and reporting.

5. Collaboration with Internal and External Teams:

   
   
• Collaborate with other departments such as legal, risk management, and compliance to address AML/KYC issues.
• Communicate effectively with external regulatory bodies, auditors, and law enforcement agencies when necessary.

6. Risk Assessment and Management:

   
   
• Assess the risk associated with customers based on transaction history, country of origin, and other factors.
• Assist in the development and improvement of risk management practices related to KYC and AML.

Key Skills & Qualifications:

• Education

  : A bachelors degree in finance, economics, business, or a related field is typically required.

• Experience

  : 1-3 years of experience in AML/KYC compliance, financial crime prevention, or a related field.

• Knowledge of Regulations

  : Strong understanding of AML, KYC, FATF (Financial Action Task Force), and other relevant regulations.