AML Associate Job Description

AML Associate Job Description

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AML associate provides AML Compliance support to the agents of WU to build programs in compliance with anti-money laundering laws as they apply to Money Services Businesses in the assigned countries.

AML Associate Duties & Responsibilities

To write an effective AML associate job description, begin by listing detailed duties, responsibilities and expectations. We have included AML associate job description templates that you can modify and use.

Sample responsibilities for this position include:

Presenting cases/ issues found at regional and global committees
To work with compliance officers in other regions and the PB compliance officer in arriving at suitable solutions for cases or issues
Work with the team in the development of uniform reporting standardsaround AML risk assessment
Production of reports outlining data, metrics, analysis, topics and themes surfacing from analysis of AML risk
Liaise with Data Analytics Team on formulating top-level dashboards that provide metrics and key risk elements
Provide customized and ad-hoc reports when requested from key constituents
Support senior executive-level communications with internal and external constituents, developing and maintaining baseline governance materials that can be repurposed as necessary
Document methodology, process, and approach used to reach conclusion
Manage policies and procedures with regards to OFAC/ sanctions
Follow-up market developments and new rules/regulations on OFAC/sanctions

AML Associate Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for AML Associate

List any licenses or certifications required by the position: CAMS, ACAMS, CFE, CCBCO, CRCM, KYC, AML, ACH, CHIPS, SWIFT

Education for AML Associate

Typically a job would require a certain level of education.

Employers hiring for the AML associate job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Business, Sound, Finance, Accounting, Economics, English, Statistics, Business/Technology, Engineering, Computer Science

Skills for AML Associate

Desired skills for AML associate include:

MS Office Applications
JMLSG
POCA
Financial services sector
KYC processes and understanding of the requirements for risk-based approach to on-boarding
Key FCA principles for businesses
4th Money Laundering Directive and the key FCA principles for businesses
AML regulations
Anti-Money Laundering and KYC procedures
Banking

Desired experience for AML associate includes:

First point of contact for all Fraud related issues and escalation where appropriate
Management of team mailbox
Input to and analysis of AML/KYC Metrics
Relationship Management with UK Funds Client Services and UK Service Delivery
Meet individual quality and timeliness performance metrics
Engagement with Compliance to ensure best practices are adhered to and managing business requirements

AML Associate Examples

1

AML Associate Job Description

Job Description Example
Our innovative and growing company is hiring for an AML associate. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for AML associate
  • Research, document and escalate (when necessary) alerts investigations utilizing databases such as Lexis-Nexis, World-Check Google and several countries official companies registers
  • Participate on CCBs AML related committees and forums
  • Develop and maintain relationships with the AML Management team
  • The Firm’s expense reimbursement system and anti-corruption pre-clearances required for certain expenses
  • The Firm’s quarterly metrics concerning anti-corruption compliance activities
  • Firm employees’ political contributions
  • Work with global anti-corruption officers to maintain current records regarding third party agents that are retained by the Firm
  • Facilitate the Transaction Monitoring process for the Research Monitoring team
  • Engage and partner with the various teams (near shore/offshore/onshore), and that potentially suspicious activity is properly addressed
  • Recommend changes to procedures, present if there is a correlation between watch list risks with alerts generated, and reviews the findings of both production monitoring and sampling analysis
Qualifications for AML associate
  • Proactive management of stakeholders (CIB) to ensure SLA’s are met and where failures are identified they are rectified within agreed time frames
  • Use of Appway tool to process and manage respective information and approvals
  • General business experience within relevant business area (KYC/Client Onboarding, AML requirements and awareness of sanctions and screening practices )
  • Strong communication skills - able to communicate with colleagues across teams and senior management
  • Organisational skills, ability to work to deadlines and analytical skills good accuracy levels
  • Strong level of IT literacy including MS Word, Excel, PowerPoint, PDF, Access
2

AML Associate Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of AML associate. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for AML associate
  • Work with Senior Business in New Product Approval work streams, to raise AML issues and to address any monitoring enhancements that are triggered by new products or changing business models
  • Work with a team of managers that oversee ongoing Quality Assurance and Testing efforts to ensure that the monitoring parameters employed at the company remain appropriate
  • Work to ensure that Research work queues remain up-to-date, and sufficient to meet the expectations of the Business, Regulators, Internal Audit, and Compliance
  • Meet regularly with Senior Business and Compliance Management to report on developments in the monitoring process, or to raise other issues requiring escalation
  • Meet with and present to regulators during the course of examinations or otherwise
  • Interact with Front Office personnel throughout the world, in order to address issues from specific cases investigated
  • Interact with global counterparts, in order to ensure a consistent approach to AML monitoring
  • Create program governance documentation and enhance governance framework
  • Prepare for and support presentations and communications to senior management, regulators and other stakeholders
  • Assist in the development of guidance documents on program components
Qualifications for AML associate
  • The ideal candidate will have 3+ years professional experience at a large financial institution
  • Experience in UAT and regression testing
  • Ability to facilitate meetings among stakeholders with diverse points of view
  • Master’s and Ph.D
  • AML (Anti-Money Laundering) monitoring and investigation experience is required
  • Experience in resolution of issues
3

AML Associate Job Description

Job Description Example
Our growing company is looking to fill the role of AML associate. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for AML associate
  • Assist with development of requirements for tools and systems that support the execution of the Risk Assessment program
  • Assist the team with program execution
  • Support quality review processes for the AML Risk Assessment reports produced by the lines of business and country representatives
  • Query and discuss issues uncovered with the CIB / TSS business
  • Present cases/ issues found at regional and global committees
  • Identify operational risks proactively and mitigate the same by implementing a strong control-oriented process
  • Develop and maintain a proactive relationship with clients
  • Serve as internal/external escalation point
  • Serve as technical operational expert for queries from clients/team members etc
  • Work closely with other internal teams to ensure top of the line service to clients and ensure maximum execution/dispatch rates
Qualifications for AML associate
  • 2 to 3 years experience in AML space such as KYC, investigations, and/or testing
  • 3 to 5 years of experience in model development, preferably with experience in the financial services industry
  • Years of experience in AML or fraud modeling, or a similar area
  • Detailed knowledge of Anti-Money Laundering / Financial Crime requirements in Asia, including Hong Kong and Singapore
  • Experience in monitoring transactions, market surveillance and financial crime investigations will be a strong advantage
  • Ability to work both independently and with team members, providing support for multiple managers, under tight deadlines
4

AML Associate Job Description

Job Description Example
Our growing company is hiring for an AML associate. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for AML associate
  • Perform review of Auto Closed Alerts and validate alert generation thresholds in Mantas
  • Perform review of 3rd Party transactional activity by conducting non-alerted 3rd party review of alerts
  • Participating in and/or leading projects, initiatives, committees, which serve to enhance the teams process and effectiveness
  • Attend industry/internal webinars related to AML best practices
  • Conducts customer analysis on customer relationships that require Compliance review, reviews CIP/CDD/KYC information for compliance with KYC procedures and AML policy
  • Coordinates with Team Lead and interacts with business compliance officers, business unit staff and compliance staff to ensure consistent and high quality management of the KYC process
  • Coordinates with Team Lead on reviews of adverse news items and performs assessment to determine custom management
  • Keeps track of adverse news for escalation and reporting
  • Coordinates with Team lead on ongoing monitoring and tracking
  • Advises the business lines regarding the KYC process and other AML program requirements
Qualifications for AML associate
  • Screening and Identification of PEPs within the register
  • Effective Management of PEP register in line with Group Policy
  • Interest in relevant AML qualifications and industry updates is desirable
  • In operational capacity lead, manage and oversee business delivery of a team of 10-15 FTEs
  • Ensure all KPI/SLA/Regulatory requirements are adhered to
  • Oversee performance delivery of analysts involved in Analysing transactional/Account activity within Alerts generated in Mantas/Norkom/Smargd to check for presence of Money laundering activity and evidence of transactions with sanctioned entities/countries
5

AML Associate Job Description

Job Description Example
Our innovative and growing company is hiring for an AML associate. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for AML associate
  • Interacts with Client Onboarding to review escalations and provide Compliance guidance
  • Assists with presentation of AML packages to AML Governance Committee for consideration of final customer risk rating (PEPs, FCPA violations, fraud, etc)
  • Reviews business' Enhanced Due Diligence packages for completeness and accuracy
  • Reviews and assesses adverse new search result to supplement EDD or Periodic Review packages
  • Assists in the tracking of metrics for new customer reviews and Periodic Reviews, and adverse news alert escalations
  • Participate and lead modeling projects including model design, data preparation, model development, implementation, documentation, and on-going monitoring & refinement
  • Develop and deploy queries against enterprise data warehouses and the collection of system data for internal metric reporting
  • Provide data support including data extraction, aggregation and quality check, assist simulation and analysis for model development or ad-hoc analysis
  • Monitor system and model performance by producing & maintaining meaningful, robust metrics and reports identifying Key Performance Indicators (KPI) and Key Risk Indicators (KRI)
  • Collaborate with technology business partners, prepare implementation documents and participate in implementation of new or updated models
Qualifications for AML associate
  • Manage and review Account Suspicious Activity Reports and escalate issues to relevant Business stakeholders where appropriate (Team Leader, Compliance, GS&I)
  • Investigate and resolve Sanctions Screening / Negative Media information requests and evaluation
  • The role demands from the candidate individual domain acumen, excellent communication skills and operational expertise
  • As a subject matter expert, the Associate will be responsible for performing key critical activities for the AML Advisory function and be responsible for operational delivery of niche operation functions of AML AM QA, Check Processing and AM
  • In the individual capacity the Associate will be responsible to make recommendations to US AML Advisory based on analysis of trends and patterns observed in course of business
  • Minimum education qualification-should be a graduate

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