AML Compliance Job Description
AML compliance
provides support to the Mortgage area with processes and procedures related to compliance with BSA/AML/OFAC/USAPA and Fraud.
AML Compliance Duties & Responsibilities
To write an effective AML compliance job description, begin by listing detailed duties, responsibilities and expectations. We have included AML compliance job description templates that you can modify and use.
Sample responsibilities for this position include:
Provide support for AML initiatives at request of AML Senior Management
Acting as point of contact for inquiries relating to USA PATRIOT Act, 3rd EU Money Laundering Directive supporting regulations and policies
Undertaking file reviews and general monitoring of clients and investors to ensure that the Group's AML policies & procedures are being applied and adhered to
Helping develop and operating monitoring tools to examine and report abnormal instance and suspicious activity from an AML perspective
Assisting with staff with AML/KYC related escalations
Attending monthly service call with clients to discuss AML issues
Providing AML Education and Training
Facilitate the development of system and reports for an effective data mining/suspicious transaction detection mechanism with all relevant regulatory requirements (such as, AML/CTF, FATCA )
Oversight of AML activity and remediation across the business in Australia and in some cases, APAC
Regional project co-ordination around AML enhancement
AML Compliance Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for AML Compliance
List any licenses or certifications required by the position: CAMS, ACAMS, AML, CFCS, CFE, SFMS, ACFCS, CRCM, CCBCO, ACFE
Education for AML Compliance
Typically a job would require a certain level of education.
Employers hiring for the AML compliance job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Education, Criminal Justice, Business, Financial Services, Management, Communication, Finance, Legal, Law, Accounting
Skills for AML Compliance
Desired skills for AML compliance include:
AML Compliance field and communicate these decisions to Western Union agents
Bank operations
Customers
Service associates
AML/BSA regulatory compliance processes and procedures
AML
Regulations
Actimize
OFAC
USA PATRIOT Act
Desired experience for AML compliance includes:
Continue to build out a broader governance framework that looks at reporting and management of not only MIS but also the input and output of risk assessments, audit findings
Identifing changes to legislation, rules or industry guidance to ensure that the Group meets its statutory obligations and internal requirements in respect to the prevention of money laundering prevention and to ensure this is communicated effectively to management and staff
Investigating reports of suspicious transactions / circumstances
Carrying out any other duties in respect of Compliance monitoring and in particular Money Laundering Prevention as may reasonably be required
Providing approval for client files, exceptions
Liaising with Investor Services, Senior Management and Legal
AML Compliance Examples
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AML Compliance Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of AML compliance. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for AML compliance
- Reviewing/enhancing/implementing AML policies and procedures taking into consideration minimum standards set by Global Policies and any specific local requirements
- Providing guidance and responding to queries from various internal groups relating to complex AML issues
- Preparation for and participation in Client operational calls regarding AML for the Client's investor base
- Oversight of the AML program across China entities
- Become a key member of the regional AML compliance team, working with on global and regional initiatives such as risk assessments and training
- Work with stakeholders to review the operating model for Global Standards against the current process
- Identify any gaps and ensure this is captured and rolls into solution design
- Interact regularly with external stakeholders in particular the various local and global reporting and regulatory bodies
- Drive development of a local target operating model, process development and technology build for management of financial crime risks of GBM client-base
- Contribute to continual improvement of processes and policies by identifying where processes can be modified to improve customer experience and reduce RM workload, while mitigating Financial Crime Risk
Qualifications for AML compliance
- Strong background in CDD and EDD in relation to various Client Entity Types
- Prior experience as an MLRO and a MLCO a strong plus
- Provide input into the Client Selection process within Global Banking focusing on the evaluation of new business opportunities and client relationships and the review of exit recommendations whether on compliance risk or commercial grounds
- Establish and maintain strong working relationships with key internal stakeholders in GBM and FCC to ensure that GBM is 'best in class' in its implementation of Global Standards
- Provide updates to the various local and global reporting and regulatory bodies and ensuring that the Program is transparent, and global and local regulatory standards are properly applied
- Act as a center of excellence on Global Standards, providing proactive guidance and encourage best practice sharing
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AML Compliance Job Description
Job Description Example
Our company is hiring for an AML compliance. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for AML compliance
- Collaborate with local and wider Global Standards team to share best practice and ideas
- Conducting Enhanced Due Diligence processes for various products/business lines on all high risk accounts opened and/or subject to Event Driven Reviews and conditional approvals
- Clearance, investigation or escalation of clients that are subject to negative media hits based on research due diligence
- Detecting and investigating transactions/issues that present possible money laundering and/or terrorist finance risk
- Conducting assessments of New Client Adoption processes with creation of final analysis reports
- Provide independent assurance to key stakeholders on the effectiveness and adequacy of regulatory compliance practices and controls and the status of compliance as applicable to RBCIS Bank and its branches and subsidiaries
- Day to day management of daily trade related and ongoing documentation received from investors, including screening, investor follow ups, investor and Client related queries on the back of documentation reviews
- Remediation of investor bases converted form other administrators
- Ongoing screening of investorsagainst sanctions lists and appropriate internal and Client reporting based on results
- Develop a thorough understanding of internal business products & processes
Qualifications for AML compliance
- Ability to review and approval advisory program sales literature, marketing materials and other communications
- Legal/Regulatory/Control experience is a plus
- Three or more years of experience in the intelligence or criminal justice fields within the military preferred
- Work within the fields of counter-terrorist finance or anti-fraud a plus
- Qualified with relevant degree would be favourably considered
- Certified Anti-Money Laundering Specialist (ACAMS) or equivalent highly regarded
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AML Compliance Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of AML compliance. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for AML compliance
- Communicate product and program level AML risk to leadership, business and technical teams, and external parties
- Manage a team of investigators who will perform enhanced due diligence reviews and an individual customer's BSA-AML risks
- Manage the rollout of BSA-AML risk management tools and methodologies
- Evaluate and monitor existing procedures and develop new procedures, systems and controls to minimise the risk of the firm being used for financial crime and ensure the business is compliant with current anti-money laundering requirements
- In conjunction with the Head of Compliance, LIB, establish and maintain strong regulatory relationships with PBOC, CBRC and other regulators
- Drive projects and efficiency initiatives
- Ensure effective delegation to direct reports
- Ensure and manage structured upward & downward communication
- Work towards aligning self and team goals in line with Organizational goals
- Ensure adequate back-ups created for all critical positions and assist other teams during contingencies (Staff shortage, high volumes etc)
Qualifications for AML compliance
- Prior Compliance, Audit or Operational Risk experience
- Experience in implementation of Compliance Programs
- Sound understanding of the financial services industry and the related regulatory environment
- More than 15 years of experience in at least two IT disciplines in a client/server or service/API-oriented architecture environment, including technical architecture, network management, application development, middleware, database management or operations
- Strong leadership and proven track record and experience architecting application and technology solutions for portfolios in a complex large-scale mission critical environment is a must
- Experience working with Large banks, System Integrators (SIs) and Vendors from a consulting/evaluation perspective and a delivery/implementation perspective is also a must
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AML Compliance Job Description
Job Description Example
Our company is growing rapidly and is hiring for an AML compliance. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for AML compliance
- Assist all Business Groups, in the preparation and delivery of AML, ATF and ABAC related policies, establish and maintain a framework to ensure that new products and services are subject to an initial AML, TF, and ABAC risk assessment prior to implementation
- Ensure oversight of the I&TS AML (KYC), including Customer Due Diligence and Enhanced Due Diligence programs for High Risk Clients while contributing to the risk assessment of clients and, for clients designated under the Risk Based Approach as “High Risk”, including escalation of High Risk clients, as appropriate, to the Head of Compliance Advisory and AML and MLRO for review and approval
- Build agent oversight processes, systems, and strategies that will facilitate global alignment and ensure compliance with international laws, government regulations, and industry best practices
- Working with the Compliance Controls Testing team in the UK to ensure that local controls testing standards are in line with the Group principles
- Provide oversight, review and support of the firm's compliance risk infrastructure that monitors suspicious activity and potential violations
- Author risk reports and your findings for senior internal management and the Federal Reserve on the bank’s Anti-Money Laundering Compliance risk systems and controls
- Develop an ability to identify and manage the compliance control risks across the bank’s many business units, its products and services
- Works within a matrixed and virtual team
- Escalating and/or resolving impediments to help your team deliver
- Prepare well-written SARs (Suspicious Activity Reports) on suspect transactions
Qualifications for AML compliance
- Knowledge of any of the Corporate areas is important
- Experience with Big Data, Data Warehousing, Data Architecture, service oriented architectures, enterprise service bus technology, business process management, and/or document management is an asset
- Ability to write concisely and clearly
- Graduate Degree or Undergraduate Degree with supporting internal/external continuing education and on the job training
- 8-10 years experience with the financial institution sector or industry equivalent
- 5 or more years experience in a Risk or Compliance function
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AML Compliance Job Description
Job Description Example
Our company is hiring for an AML compliance. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for AML compliance
- Support AML technology including user acceptance testing
- Manage daily sustain activities and project initiatives supporting AML technology
- You will be managing Government Sanctions and/or other internal programs while working with stopped payments
- Minimum 1 year experience working within the call center operations environment and industry
- You will have a typing speed of 30 words per minute
- Interact with our onboarding team, to obtain KYC and other compliance information and documentation on a case by case basis
- Assist in drafting, updating and monitoring the company’s policies and procedures for relevant business areas such as best execution, conflicts of interest, etc
- Gather information and prepare responses to enquiries from the FCA and/or other EEA regulatory bodies or law enforcement agencies
- Assist with transaction reporting and any other relevant reporting requirements
- Carry out any other ad-hoc tasks at the request of the Compliance Officer
Qualifications for AML compliance
- In depth understanding of the regulatory and compliance requirements applicable to P&C Canada
- Proven strategic and managerial leadership capabilities and an ability to coordinate the efforts of people and resources not under their direct control
- In depth organizational understanding
- Working knowledge of resource planning, process coordination and project management
- Good IT and audit skills, proficient in MC Office
- 1-2 years industry experience preferable