JOB SUMMARY:
The AML 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 analyzing complex financial data, identifying potential risks, and escalating any suspicious activities to the appropriate authorities.
Key Duties and Responsibilities, including but not limited to:
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 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.
- Analyze 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 issues and implement corrective actions.
Compliance:
- Stay updated on regulatory developments, industry trends, and best practices in AML compliance.
- Provide training and guidance to staff on AML 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 analyze data for reporting purposes.
- Meet with key business partners/leaders and conduct/sit in collaborations.
Requirements
QUALIFICATIONS AND SKILLS:
- Minimum of Matric or equivalent qualification.
- CAMS/ICA certification or University degree (preferred but not required).
- 2-3 years of experience in AML/KYC or compliance roles.
- Strong knowledge of AML/CFT and KYC regulations.
- Excellent written and verbal communication skills.
- Strong attention to detail and analytical thinking.
- Ability to work in a fast-paced and deadline-driven environment.
- Familiarity with compliance software.
Benefits
Group Risk Benefits (100% contribution)
Medical Aid with Discovery (100% contribution)
Gap Cover (100% contribution)
On-site barista and refreshments with breakfast, lunch and snacks
On-site parking