Role Overview

The Compliance Analyst will focus on AML compliance and client onboarding, ensuring effective implementation of risk policies and procedures to detect and mitigate money laundering risks. The role requires experience in the banking or financial services sector, with expertise in customer (business) due diligence and regulatory compliance.

Key Responsibilities

1. AML Monitoring and Compliance:
   • Conduct due diligence reviews during the client onboarding process, including Know Your Customer (KYC) and Enhanced Due Diligence (EDD) for high-risk clients.
   • Monitor transactions to identify potential money laundering risks and ensure timely investigation and reporting of suspicious activity.
   • Maintain and update client risk profiles, ensuring compliance with internal and external AML regulations.
2. Client Onboarding:
   • Evaluate and verify client documentation, ensuring accuracy and adherence to regulatory requirements.
   • Assess client risk levels and assign appropriate risk ratings based on predefined criteria.
   • Collaborate with internal teams to ensure a seamless onboarding process while meeting compliance standards.
3. Policy and Procedure Development:
   • Propose updates and improvements to risk management policies, procedures, and workflows to align with evolving regulatory requirements.
   • Develop and maintain AML-related onboarding protocols, ensuring they address emerging threats and trends.
4. Risk Assessment and Mitigation:
   • Perform periodic reviews of client accounts to identify changes in risk profiles and recommend mitigation strategies.
   • Conduct risk assessments related to new products, services, or markets to identify potential compliance vulnerabilities.
5. Training and Support:
   • Provide guidance and training to internal teams on AML requirements, client onboarding best practices, and risk management protocols.
   • Serve as a point of contact for compliance-related queries during the onboarding process.
6. Reporting and Recordkeeping:
   • Prepare and maintain detailed records of onboarding reviews, risk assessments, and AML investigations.
   • Generate compliance reports for senior management, highlighting key findings and proposed actions.

Qualifications and Skills

Education:

Bachelor’s degree in Law, Business Administration, Finance, or a related field. AML certifications (e.g., CAMS) are a plus.

Experience:

• Minimum of 3-5 years of experience in AML compliance and client onboarding within the banking or financial services sector.
• Hands-on experience with KYC, EDD, and transaction monitoring processes.
• Strong understanding of AML regulations, risk assessment frameworks, and client onboarding best practices.
• Excellent analytical skills and attention to detail.
• Effective communication and interpersonal skills for collaboration with internal and external stakeholders.
• Proficient in compliance tools and systems, as well as Microsoft Office Suite
• Fluent in English, with strong written and verbal communication skills.