AML Compliance Analyst Job Description
AML Compliance Analyst Duties & Responsibilities
To write an effective AML compliance analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included AML compliance analyst job description templates that you can modify and use.
Sample responsibilities for this position include:
AML Compliance Analyst Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for AML Compliance Analyst
List any licenses or certifications required by the position: CAMS, CFE, AML, ACAMS, SFMS, CFCS, OFAC, BSA, PRINCE, PMP
Education for AML Compliance Analyst
Typically a job would require a certain level of education.
Employers hiring for the AML compliance analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Criminal Justice, Business, Education, Finance, Law, Financial Services, Management, Communication, Intelligence, Political Science
Skills for AML Compliance Analyst
Desired skills for AML compliance analyst include:
Desired experience for AML compliance analyst includes:
AML Compliance Analyst Examples
AML Compliance Analyst Job Description
- Support UAT related to a new Case Management system for AML Investigations which will go live in Q3 2015
- Accountable and responsible for suggestions to improve processes
- Accountable and responsible for understanding and adherence to established internal procedure documents
- Accountable and responsible for personal development
- As appropriate, provide either a move forward or do not proceed direction (the latter in conformity with the Demarketing Policy for existing clients) to the business unit representative
- Accountable and responsible to document the decision making process and maintain a master file of all MSBs to comply with the annual review requirements
- Report the results on a monthly basis to Manager, Money Service Businesses
- Manage the relationship with the business units to ensure Due Diligence is being applied for all MSBs
- Act as centre of expertise for Account Managers on MSB policy/procedures
- Refer MSB Policy / Regulatory issues, as appropriate, to Manager, Money Service Businesses or to AML Compliance, Group Risk Management
- 4+ years of experience in the Compliance Department of a financial institution or comparable experience
- Demonstration and application of core knowledge of money laundering patterns, BSA and PATRIOT Act, OFAC and other compliance regulations
- Knowledge of Actimize, Lexis, and/or PACER
- Must be able to work in a high-volume environment and maintain quality of output
- Working knowledge of Microsoft Office applications, Microsoft Word, Excel, and Access
- 1-2 years Compliance experience and/or working knowledge of OFAC and anti-money laundering review processes is a plus
AML Compliance Analyst Job Description
- Contribute to the overall operationalization of AML initiatives across the enterprise
- Adhere to AML program, policy and procedures
- Be an application subject matter expert
- Work with the business users, audit teams, business information office, production support teams, and project teams (any or all that are applicable) to support the application
- Setup meetings to define problems, analyze root causes, troubleshoot, and solve production problems
- Attend meetings, track production support issues, and consult with production support teams
- Communicate production issues with key stakeholders such as business users, auditors, and AML management team
- Research and create workarounds until production issues can be fixed permanently
- Conduct business validation as needed to complete projects
- Create frequently ask questions documents and providing training to business users may be requested
- Self motivated - ability to set priorities, meet deadlines and manage projects
- Must be flexible and adaptable to changing work requirements as a member of a dynamic team
- Minimum 3 years of working experiences in AML Compliance within a Private Bank or Wealth Management environment
- All functions will communicate with BSA Officer, branch personnel and/or departments as needed
- Working knowledge of AML, and other AML regulatory policies, with a good understanding of AML typologies the ability to apply and explain regulatory concepts
- 3 to 5 years of AML/OFAC compliance, banking, and/or financial services experience
AML Compliance Analyst Job Description
- Report suspicious and/or unusual activity as required by anti-money laundering laws and regulations – this may include utilizing moderately complex open source research techniques
- Be responsible for concise written and/or verbal communication with external and internal partners
- Recognize new/emerging patterns/typologies and respond with appropriate investigative techniques based on applied knowledge and a wide range of research/investigative techniques
- Reviewing monthly and daily transaction alerts, sanctions alerts, client file review, conducts due diligence searches and metrics
- Actively participating in the annual AML risk assessment by testing adherence to the AML policy and procedures by the lobs
- Regularly updating and ensuring accuracy of all tracking logs for metrics reporting
- Assisting in the preparation monthly metrics reporting
- Conducting User Acceptance Testing (UAT) for system enhancements and documenting work product
- Maintaining system administration tables and updates
- Ensuring timely completion of all mandatory training requirements
- Preferably Minimum 5 years of working experience in the Financial Services industry, preferably in a role where the candidate had contact with issues related to anti-money laundering/counter terrorism financing (“AML”)
- Experience in IT system testing strategies, creation of test plans, and exposure to User Acceptance Testing (UAT) is highly valuable
- Able to work independently in a team setting
- Regional knowledge of other jurisdictions is desirable, Financial Conduct Authority, Joint Money Laundering Steering Group and the Central Bank of Ireland
- The ideal candidate will be a great team player
- Attention to detail will be critical being a confident communicator
AML Compliance Analyst Job Description
- Keeping abreast of regulatory changes and news
- Performing independent risk-based analysis of clients, inclusive of institutions, individuals and government sponsored entities, for purposes of firm policy and regulatory expected due diligence risk assessment and measurement
- Reviewing documentation versus business-sponsored client profiles for consistency, accuracy and relevance
- Monitor and analyze changes to the FI client active and inactive database
- Assist in the in-depth and enhanced analysis of prospective and current FI Clients and issues that are large, complex and/or high-risk in nature, CDD and Know Your Customer (KYC) guidance
- Perform research and become familiar with relevant regional law, news, customs, and culture
- Assist in special projects and present to senior management as required
- Obtain data from primary or secondary data sources and maintain databases/data systems
- Develop and maintain reports, dashboards and scorecards to track key performance metrics from multiple data sources
- Recommend and apply appropriate analytic and statistical methodologies and techniques in support of general guidance, policies and strategy formulated by senior business leaders
- Bilingual (English and Spanish) must be able to read, write, and speak in both languages
- Five (5) to seven (7) years of working experience in the financial services industry, with a focus on BSA/AML investigations and Suspicious Activity Reporting requirements
- CAMS and/or CFE Certification preferred
- Solid understanding of the laws applicable to money laundering, including the Bank Secrecy Act (BSA), The USA Patriot Act, OFAC, FinCEN requirements, and Suspicious Activity Report (SAR) requirements
- Experience working cases related to large criminal rings and complex financial transactions
- Strong analytical, investigative, and critical reasoning skills
AML Compliance Analyst Job Description
- Financial Crimes Compliance technology helps fulfill this mandate by building applications which help compliance build controls , surveillances and investigative applications to prevent, detect and mitigate potential financial crimes
- As Analyst in Financial Crimes Compliance you will be responsible to build and develop next generation architecture for FCC Tech based on latest technologies including Enterprise platform stack, Datalake , eTask, DASH UI, REST, Angular Js, RabbitMQ , Drools rules, MongoDB, Hadoop, Spark
- FCC Tech consumes large amount of data to build surveillances and investigative tools
- You will be part of projects to potentially use big data and machine learning technologies to build behavioral surveillances
- As part of firms commitment to regulators, FCC Tech is focuses on delivering multiple projects ranging from a new Client Risk scoring platform, building a Customer profile demonstrating client’s transactional activity trends and client behavioral surveillances
- You will part of high impact pods focused on delivering these projects
- You will be exposed to latest technologies
- You will also be working closely with Financial Crimes Compliance and getting exposure to wide variety of business functions in great details
- Develop and implement effective model challenge criteria
- Produce independent validation reports, issue recommendations to model developers and evaluate models’ compliance with regulatory guidelines
- Strong understanding of the Singapore regulatory (Monetary Authority of Singapore) requirements for retail consumer financial services or credit card business
- Experience in dealing with the regulators on compliance matters
- Strong understanding of & experience in AML/CTF and Sanctions operations at global financial institutions
- Professional certifications or Diplomas in AML relevant area
- Strong understanding of credit card and/or retail consumer banking business models at a global financial institutions, with complex system & technology infrastructure and a matrix organizational structure
- Hands-on experience or professional certifications in internal controls