AML Analyst at I&M Bank

Job Purpose:

• The Anti-Money Laundering Compliance Analyst is responsible for performing CIP, KYC, and AML compliance functions. Such functions include the efficient gathering and review of new high-risk customer information, as well as monitoring financial transactions for existing customers to identify suspicious activities.
• The AML Compliance Analyst also analyzes information received from correspondent banks and addresses AML economic sanctions-related alerts and assists in compiling regulatory reports.

Key Responsibilities:
Sanction screening and Enhance Due Diligence:

• Review of KYC for new high-risk customers.
• Carrying out EDD on existing high-risk customers such as PEPs, motor vehicle dealers, and Forex Bureaus.
• Carry out sanction screening on escalated cases on vendors, UBOs, and customers.
• Review suspected sanction matches on   transaction activities and or customers.

Transaction monitoring:

• Conduct detailed Investigations and assessments on alerts relating to potential money laundering risks. 
• Ensure efficient identification and monitoring of activities and transactions considered suspicious.
• Ensure timely and efficient reporting of transactions considered suspicious.
• Daily assessment of SWIFT and AML reports relating to potential suspicious activity.
• Collect and review documentary proof of transactions above USD 10k and build and maintain case files for transactions deemed suspicious.

Regulatory reporting and request, record keeping, management reporting:

• Assist in the preparation of periodic regulatory returns- CMA, FRC, and CBK returns.
  Assist in ad hoc regulatory requests.
• Ensure proper record-keeping of data collected and analyzed, all the EDD reports conducted, and suspicious transactions reported.
• Support preparation of reports for management, board, and regulator.
• Prepare and submit periodic regulatory returns (CBK AML data collections, compliance returns, and CMA returns)

Training:

• Assisting in the preparation of AML /CTF training modules for the bank employees.
• Raise awareness and provide training for bank employees on AML and CFT policies.
• Raise AML and CTF awareness by championing the same through newsletters, and direct email communication to the relationship management team.

Corresponding banking support:

• Assist with addressing queries from correspondent banks relating to AML compliance. 

Business advisory:

• Stay current with money laundering and terrorist financing behaviors, issues, policies, regulations, criminal typologies, industry best practices, and developing trends to provide
• Business advisory on KYC, AML, sanctions, and adverse media and providing guidance in dealing with high-risk accounts.

ML and TF Risk Assessment:

• Perform annual risk assessment on the bank’s products, customers, and channels.
• Assist in testing and providing advice on AML risk on various bank projects.

Academic Qualifications and Work Experience:

• Bachelor's degree in a related field.
• Professional certifications in ACAMs, ACFCS, CPA, or any AML/Compliance certification.
• 4-6 years of experience in a similar role.

Required skills and competencies:

• Interpersonal skills.
• Communication skills.
• Analytical skills.
• Technical skills in AML, data mining, and compliance.
• Report writing skills.
• Good understanding of AML\CFT regulatory policies with the ability to apply regulatory concepts in daily functions.
• Research skills for enhanced due diligence on high-risk customers.
• Exercise high level of discretion and confidentiality due to the sensitive nature of the scope of work.