AML/KYC Analyst

JOB SUMMARY:

The AML/KYC Analyst is responsible for conducting due diligence investigations on customers, monitoring transactions for suspicious activities, and ensuring compliance with regulatory requirements related to anti-money laundering (AML) and know your customer (KYC) regulations. The role involves analysing complex financial data, identifying potential risks, and escalating any suspicious activities to the appropriate authorities.

KEY RESPONSIBILITIES:

Processing:

Verify and validate documentation and information supplied by customers when signing up for new accounts.
To aid the verification team as and when required.
To uphold and maintain daily and monthly targets.
Optimize and continuously improve SLAs regarding verification queues.

Customer Due Diligence (CDD) and enhanced due diligence (EDD):

Perform due diligence reviews on new and existing customers to ensure compliance with AML/KYC regulations.
To report any suspicious activities on customer accounts.
Conducting EDD for existing high-risk customers.
Ability to conduct initial and ongoing due diligence on high-risk customers.
Understanding of various typologies to circumvent risks associated with high-risk customers.
Conduct thorough investigations into customer backgrounds, financial activities, and sources of funds.
Analyse transactional data and identify patterns or anomalies that may indicate potential money laundering or other illicit activities.
Monitor and review alerts generated by AML monitoring systems and investigate any suspicious transactions or activities.
Document findings and maintain accurate records of AML/KYC reviews and investigations.

Collaboration:

Collaborate with internal teams, including compliance, legal, and risk management, to address AML/KYC issues and implement corrective actions.

Compliance:

Stay updated on regulatory developments, industry trends, and best practices in AML/KYC compliance.
Provide training and guidance to staff on AML/KYC policies, procedures, and regulatory requirements.
Assist in the development and enhancement of AML/KYC compliance programs and controls.

Reporting:

Prepare reports and presentations for senior management and regulatory authorities as required.
Keep up to date on any process and regulatory changes.
Assist on KYC reporting insights daily/weekly/monthly.
Understand, interpret, and analyse data for reporting purposes.
Meet with key business partners/leaders and conduct/sit in collaborations.

Requirements

QUALIFICATIONS AND SKILLS:

LLB, Finance or Business Administration Degree with CAMS/ICA certification.
3 Years of relevant work experience in customer onboarding and customer due diligence (KYC - Corporate & Individual), AML (Anti-Money Laundering) and EDD (Enhanced Due Diligence).
Strong understanding of AML/KYC regulations, including FAIS and FIC guidelines.
Integrity and ethical conduct with a commitment to upholding compliance standards and preventing financial crime.
Proficiency in using AML monitoring systems, database tools, and Microsoft Office applications.
Excellent analytical skills with the ability to interpret complex financial and transactional data and identify potential risks.
Attention to detail and ability to work independently with minimal supervision.
Effective communication skills, both verbal and written, with the ability to articulate findings and recommendations clearly.
Strong organisational skills and ability to prioritise tasks in a fast-paced environment.
Computer proficiency.
Great analytical, critical thinking, and problem-solving abilities.
Strong attention to detail, report writing, and documenting outcomes of investigations

Benefits