Anti-Money Laundering Consultant Job Description
The anti-money laundering consultant role requires a professional who has a thorough understanding of anti-money laundering (AML) and Bank Secrecy Act (BSA) requirements, especially as they relate to institutions and organizations involved in payment processing, loans, accounting opening, credit card issuing, and handling prepaid cards.
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The successful candidate will act as a subject matter expert in AML audit execution and deliver AML consulting services to assist the company in delivering the best value to its clients.
He/she will be required to assess and recommend improvements to compliance programs as well as work to develop and implement training programs. The AML consultant will also be responsible for assisting in the development and implementation of training programs within the organization.
Anti-Money Laundering Consultant Job Responsibilities
- Investigate fraudulent and potential money laundry activity across the organization’s many business lines
- Act as a subject matter expert in AML and financial fraud investigations
- Handle AML compliance monitoring and training recommendations
- Review and monitor the preparation of Suspicious Activity Reports (SARs)
- Preparation of client communications documentation for review by senior management
Reports to Whom
Generally, the anti-money laundering consultant reports to the institution’s AML and financial crimes committee.
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Anti-Money Laundering Consultant Qualifications (Desired Skills and Experience)
- Bachelor’s degree from an accredited college/university in public accounting, finance, economics or related discipline
- Master’s degree an asset
- Minimum of 5 years’ experience working with anti-money laundering/ Bank Secrecy Act (BSA) in diverse financial institutions
- Extensive experience developing, monitoring, and auditing compliance to AML/BSA requirements
- Business development expertise
- Proficient in the general application of internal auditing standards, theories, techniques, and procedures
- Strong oral and written communication skills
- ability to communicate effectively with employees of all levels within the organization
- Supervisory management experience
- Willingness to travel as needed and on short notice
- Professional certifications, such as CAMS, CFE, and CPA, a distinct advantage
- General knowledge of compliance requirements for financial institutions
- Extensive experience working with statistical analytics and methods
- Ability to work in various environments as a part of a team and independently
- Excellent report writing skills
- Capable of compiling structured audit reports to be distributed to senior management which include findings, analysis, conclusions, and recommendations for remedial action
- Experience working in a project-based environment
- Knowledge of AML requirements and systems in local and overseas jurisdictions
- Proficient in Microsoft Office Suite (Word, Excel, Project, and PowerPoint)
- Ability to comprehend the importance of confidential and privileged information
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