AML Analyst

AML Analyst
Key job responsibilities:-
- Reviewing alerts: Analyzing AML alerts generated in FCRM, and look for the specific AML alerts category (potential red flags) like
- structuring, high-risk high-volume transaction, change in behavior, etc.
- Review the alerted activity and 30 days of recent activity on the account including appropriate research to explain why the activity is performed.
- Customer profile checks: Verifying customer information against existing records to understand the legitimacy of transactions and the customer's expected activity.
- Basic investigation: Conducting initial research using internal systems and external data sources to gather information about the transaction, parties involved, and potential risks.
- Review the alerted activity and 30 days of recent activity on the account including appropriate research to explain why the activity is performed.
- Alert disposition: Deciding whether to close an alert as non-suspicious with no further action recommended escalate it to a higher level for more robust & thorough investigations
- Documentation: Record their findings and rationale for the decision made on the alert in a specific format provided with FCRM update
- Compliance adherence: Ensuring all reviews are conducted in accordance with established AML policies, regulations, and internal procedures.

 

Key Skills:-
- Basic understanding of AML regulations: Familiarity with Bank Secrecy Act (BSA), OFAC sanctions, and other relevant anti-money laundering laws.
- Analytical skills: Ability to identify patterns, analyze complex data, and draw logical conclusions from available information.
- Attention to detail: High level of accuracy when reviewing transactions and documenting findings and recommend action with detailed rationale.
- Investigative skills: Capability to gather and assess information from various sources to support decision-making
- Basic knowledge of financial products and services: Understanding different types of transactions, customer profiles, and potential red flags associated with various financial activities