AML KYC Business Analyst Job Description

The AML KYC business analyst has the task of reviewing customer cases that are considered high risk and conduct a thorough assessment of the related parties on a macro level. The position entails research and documentation work pertaining to clients possessing accounts in several jurisdictions or that have a history of complex cross-border transactions.

He/she will also be required to consult with senior analysts in the organization for guidance where applicable.

AML KYC Business Analyst Job Description

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AML KYC Business Analyst Job Responsibilities

Responsibilities include but are not limited to:

  • conduct independent research to gather and record data from internal systems, commercial databases, and the Internet
  • assess and analyze research data
  • use background knowledge and experience to conduct complex data analysis
  • handle due diligence investigations to support policies and procedures
  • conduct investigations based on global standards, policies, tools, and procedures to ensure compliance with internal and external regulatory requirements
  • determine the best investigative and analytics approach
  • follow up with external contact to obtain information to support cases
  • write and prepare suspicious activity reports (SARs)
  • make recommendations for relationship terminations or retentions
  • follow up to make sure all documentation for new accounts meet the know your customer (KYC) requirements
  • escalate high-risk accounts with missing records to the relevant internal unit
  • conduct customer and market needs analyses
  • assist in developing additional business opportunities
  • assist in system design for user interfaces that are a part of backend processes
  • attend internal committee meetings as required
  • support management by attending external committee meetings as a backup

Reports to Whom

Generally, the AML KYC business analyst reports to the head of risk management in the organization.

AML KYC Business Analyst Qualifications (Desired Skills and Experience)

  • four-year college degree
  • graduate degree or post-graduate training is a plus
  • 3+ years’ experience conducting reviews of customer transactions for suspicious activity
  • experience conducting investigations relating to AML
  • experience reviewing and analyzing KYC files for more sophisticated banking products
  • experience performing thorough analyses of customer information
  • experience preparing suspicious activity reports (SARs)
  • extensive knowledge of the money laundering laws, including the Bank Secrecy Act (BSA)
  • strong research skills and experience working with online research tools
  • advanced Microsoft Office skills (Word, Excel, PowerPoint, Outlook, Access, and Project)
  • exceptional written and oral communication skills
  • organized and proactive
  • strong management and leadership capabilities
  • ability to multi-task and handle several different projects
  • strong work ethic and attention to detail
  • proficient time management skills
  • experience working to meet deadlines for time-sensitive projects
  • strong documentation skills
  • ability to employ sound decision-making and discretion when handling investigations

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