AML Compliance Analyst Job Description

AML Compliance Analyst Job Description

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AML compliance analyst provides daily support to the AML Manager and the Bank’s BSA Officer by assisting with the interpretation and implementation of the Bank’s BSA/AML procedures and related Compliance Programs, and inputting required data to the Bank’s various BSA/AML software systems.

AML Compliance Analyst Duties & Responsibilities

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

Sample responsibilities for this position include:

Reconcile new accounts opened and ensure a 90 day review was performed properly on each new account
Document and report KYC or Transaction Monitoring application issues to management and system support
Function with demonstrated knowledge of AML/Fraud Investigative and SAR experience, broader functional knowledge
Function as a key contributor and demonstrate knowledge of AML issues broader functional knowledge
To develop a good working knowledge of sanctions programs in order to support ad hoc queries raised by CIB (Corporate and Investment Banking) business partners and their customers
To investigate and resolve problems associated with the adherence to OFAC (Office of Foreign Assets Control) and other sanctions programs in a timely and customer focused manner
Conducting due diligence research on high risk potential and existing clients, including open internet research
Assist in User Acceptance Testing of system enhancements
Conducting screening checks on potential clients for Wealth Management Asia
Assist in preparing reports for senior management/ board of directors

AML Compliance Analyst Qualifications

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

Licensing or Certifications for AML Compliance Analyst

List any licenses or certifications required by the position: CAMS, CFE, AML, ACAMS, SFMS, CFCS, OFAC, BSA, PRINCE, PMP

Education for AML Compliance Analyst

Typically a job would require a certain level of education.

Employers hiring for the AML compliance analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Criminal Justice, Business, Education, Finance, Law, Financial Services, Management, Communication, Intelligence, Political Science

Skills for AML Compliance Analyst

Desired skills for AML compliance analyst include:

Bank operations
AML/BSA regulatory compliance processes and procedures
Activities
Analysis of people
Audits of financial institutions
BSA and AML regulations and equivalent compliance programs implemented by regulated institutions
Conducting investigations
Examinations
Financial crime
Illicit activities

Desired experience for AML compliance analyst includes:

Self-starter, creative, capable of working under minimum supervision
Previous experience in AML, compliance or related position preferred
1-2 years previous experience in reviewing transaction in brokerage accounts, AML investigations, compliance or related position preferred
Investigate suspected cases of money laundering activity and OFAC-related violations
Perform periodic reviews of high-risk individuals
Provide training and guidance to fellow analysts

AML Compliance Analyst Examples

1

AML Compliance Analyst Job Description

Job Description Example
Our growing company is looking to fill the role of AML compliance analyst. 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 compliance analyst
  • Support UAT related to a new Case Management system for AML Investigations which will go live in Q3 2015
  • Accountable and responsible for suggestions to improve processes
  • Accountable and responsible for understanding and adherence to established internal procedure documents
  • Accountable and responsible for personal development
  • As appropriate, provide either a move forward or do not proceed direction (the latter in conformity with the Demarketing Policy for existing clients) to the business unit representative
  • Accountable and responsible to document the decision making process and maintain a master file of all MSBs to comply with the annual review requirements
  • Report the results on a monthly basis to Manager, Money Service Businesses
  • Manage the relationship with the business units to ensure Due Diligence is being applied for all MSBs
  • Act as centre of expertise for Account Managers on MSB policy/procedures
  • Refer MSB Policy / Regulatory issues, as appropriate, to Manager, Money Service Businesses or to AML Compliance, Group Risk Management
Qualifications for AML compliance analyst
  • 4+ years of experience in the Compliance Department of a financial institution or comparable experience
  • Demonstration and application of core knowledge of money laundering patterns, BSA and PATRIOT Act, OFAC and other compliance regulations
  • Knowledge of Actimize, Lexis, and/or PACER
  • Must be able to work in a high-volume environment and maintain quality of output
  • Working knowledge of Microsoft Office applications, Microsoft Word, Excel, and Access
  • 1-2 years Compliance experience and/or working knowledge of OFAC and anti-money laundering review processes is a plus
2

AML Compliance Analyst Job Description

Job Description Example
Our innovative and growing company is looking for an AML compliance analyst. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for AML compliance analyst
  • Contribute to the overall operationalization of AML initiatives across the enterprise
  • Adhere to AML program, policy and procedures
  • Be an application subject matter expert
  • Work with the business users, audit teams, business information office, production support teams, and project teams (any or all that are applicable) to support the application
  • Setup meetings to define problems, analyze root causes, troubleshoot, and solve production problems
  • Attend meetings, track production support issues, and consult with production support teams
  • Communicate production issues with key stakeholders such as business users, auditors, and AML management team
  • Research and create workarounds until production issues can be fixed permanently
  • Conduct business validation as needed to complete projects
  • Create frequently ask questions documents and providing training to business users may be requested
Qualifications for AML compliance analyst
  • Self motivated - ability to set priorities, meet deadlines and manage projects
  • Must be flexible and adaptable to changing work requirements as a member of a dynamic team
  • Minimum 3 years of working experiences in AML Compliance within a Private Bank or Wealth Management environment
  • All functions will communicate with BSA Officer, branch personnel and/or departments as needed
  • Working knowledge of AML, and other AML regulatory policies, with a good understanding of AML typologies the ability to apply and explain regulatory concepts
  • 3 to 5 years of AML/OFAC compliance, banking, and/or financial services experience
3

AML Compliance Analyst Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of AML compliance analyst. 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 compliance analyst
  • Report suspicious and/or unusual activity as required by anti-money laundering laws and regulations – this may include utilizing moderately complex open source research techniques
  • Be responsible for concise written and/or verbal communication with external and internal partners
  • Recognize new/emerging patterns/typologies and respond with appropriate investigative techniques based on applied knowledge and a wide range of research/investigative techniques
  • Reviewing monthly and daily transaction alerts, sanctions alerts, client file review, conducts due diligence searches and metrics
  • Actively participating in the annual AML risk assessment by testing adherence to the AML policy and procedures by the lobs
  • Regularly updating and ensuring accuracy of all tracking logs for metrics reporting
  • Assisting in the preparation monthly metrics reporting
  • Conducting User Acceptance Testing (UAT) for system enhancements and documenting work product
  • Maintaining system administration tables and updates
  • Ensuring timely completion of all mandatory training requirements
Qualifications for AML compliance analyst
  • Preferably Minimum 5 years of working experience in the Financial Services industry, preferably in a role where the candidate had contact with issues related to anti-money laundering/counter terrorism financing (“AML”)
  • Experience in IT system testing strategies, creation of test plans, and exposure to User Acceptance Testing (UAT) is highly valuable
  • Able to work independently in a team setting
  • Regional knowledge of other jurisdictions is desirable, Financial Conduct Authority, Joint Money Laundering Steering Group and the Central Bank of Ireland
  • The ideal candidate will be a great team player
  • Attention to detail will be critical being a confident communicator
4

AML Compliance Analyst Job Description

Job Description Example
Our growing company is looking for an AML compliance analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for AML compliance analyst
  • Keeping abreast of regulatory changes and news
  • Performing independent risk-based analysis of clients, inclusive of institutions, individuals and government sponsored entities, for purposes of firm policy and regulatory expected due diligence risk assessment and measurement
  • Reviewing documentation versus business-sponsored client profiles for consistency, accuracy and relevance
  • Monitor and analyze changes to the FI client active and inactive database
  • Assist in the in-depth and enhanced analysis of prospective and current FI Clients and issues that are large, complex and/or high-risk in nature, CDD and Know Your Customer (KYC) guidance
  • Perform research and become familiar with relevant regional law, news, customs, and culture
  • Assist in special projects and present to senior management as required
  • Obtain data from primary or secondary data sources and maintain databases/data systems
  • Develop and maintain reports, dashboards and scorecards to track key performance metrics from multiple data sources
  • Recommend and apply appropriate analytic and statistical methodologies and techniques in support of general guidance, policies and strategy formulated by senior business leaders
Qualifications for AML compliance analyst
  • Bilingual (English and Spanish) must be able to read, write, and speak in both languages
  • Five (5) to seven (7) years of working experience in the financial services industry, with a focus on BSA/AML investigations and Suspicious Activity Reporting requirements
  • CAMS and/or CFE Certification preferred
  • Solid understanding of the laws applicable to money laundering, including the Bank Secrecy Act (BSA), The USA Patriot Act, OFAC, FinCEN requirements, and Suspicious Activity Report (SAR) requirements
  • Experience working cases related to large criminal rings and complex financial transactions
  • Strong analytical, investigative, and critical reasoning skills
5

AML Compliance Analyst Job Description

Job Description Example
Our growing company is hiring for an AML compliance analyst. 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 compliance analyst
  • Financial Crimes Compliance technology helps fulfill this mandate by building applications which help compliance build controls , surveillances and investigative applications to prevent, detect and mitigate potential financial crimes
  • As Analyst in Financial Crimes Compliance you will be responsible to build and develop next generation architecture for FCC Tech based on latest technologies including Enterprise platform stack, Datalake , eTask, DASH UI, REST, Angular Js, RabbitMQ , Drools rules, MongoDB, Hadoop, Spark
  • FCC Tech consumes large amount of data to build surveillances and investigative tools
  • You will be part of projects to potentially use big data and machine learning technologies to build behavioral surveillances
  • As part of firms commitment to regulators, FCC Tech is focuses on delivering multiple projects ranging from a new Client Risk scoring platform, building a Customer profile demonstrating client’s transactional activity trends and client behavioral surveillances
  • You will part of high impact pods focused on delivering these projects
  • You will be exposed to latest technologies
  • You will also be working closely with Financial Crimes Compliance and getting exposure to wide variety of business functions in great details
  • Develop and implement effective model challenge criteria
  • Produce independent validation reports, issue recommendations to model developers and evaluate models’ compliance with regulatory guidelines
Qualifications for AML compliance analyst
  • Strong understanding of the Singapore regulatory (Monetary Authority of Singapore) requirements for retail consumer financial services or credit card business
  • Experience in dealing with the regulators on compliance matters
  • Strong understanding of & experience in AML/CTF and Sanctions operations at global financial institutions
  • Professional certifications or Diplomas in AML relevant area
  • Strong understanding of credit card and/or retail consumer banking business models at a global financial institutions, with complex system & technology infrastructure and a matrix organizational structure
  • Hands-on experience or professional certifications in internal controls

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