We are seeking a detail-oriented and proactive Customer Onboarding Specialist to join our growing AML operations team. In this role, you will be responsible for conducting thorough due diligence reviews of clients at on-boarding to ensure compliance with internal AML requirements. You will play a crucial part in identifying potential money laundering risks, escalating suspicious activity, and supporting the company's efforts to maintain a strong anti-money laundering (AML) program.
The ideal candidate will have a strong understanding of AML regulations, excellent analytical skills, and the ability to make sound decisions in a fast-paced and dynamic environment.
The Work !
- Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD): Conduct CDD and EDD on clients and transactions to assess the risk of money laundering or other financial crimes. Perform open-source search checks, analyze customer information including documentation, and verify sources of funds as necessary.
- Risk Assessment: Evaluate and categorize clients based on risk factors, such as geographical location, industry, and customer profile according to internal risk scoring methodology and guidance. Maintain up-to-date records of risk assessments and adjust them as necessary.
- Escalate Suspicious Activity: Review and analyze money laundering, terrorist financing and sanctions evasion red flags and potential suspicious activity that may require further investigation by the AML Compliance team.
- Regulatory Compliance: Stay current with evolving AML regulations and industry best practices. Ensure that the company’s AML due diligence procedures and controls comply with internal AML requirements.
- Reporting and Documentation: Maintain comprehensive records of all due diligence activities, client interactions, and investigative reports. Prepare reports and provide recommendations for internal audits and regulatory inspections.
- Collaboration: Work closely with other departments, such as legal, operations, and risk management, to ensure a cohesive approach to anti-money laundering efforts. Provide guidance and training to staff on AML procedures and policies.
- Continuous Improvement:
- Contribute to the enhancement of the AML compliance program by identifying inefficiencies and recommending improvements to policies, procedures, and systems.