AML Escalations & Enhanced Due Diligence Associate

Overview

Permanent, full-time, hybrid (3 days per week in an office) #LI-Hybrid #LI-SD1

The AML EDD Associate is responsible for conducting customer and enhanced due diligence on accounts requiring AML reviews as well as periodic KYC refreshes. They will also address escalations and inquiries received within the department. They will evaluate information received, determine risk factors, and provide an assessment based on their investigative research applied to AML Officers. They should have a good understanding of complex corporate accounts and account structures, experience conducting extensive due diligence on high-risk customers, and strong knowledge on the FINCEN CDD Rule, BSA, USA Patriot Act and OFAC requirements.

Responsibilities

Responsibilities:

• Conducting Enhanced Due Diligence on complex accounts and higher risk customers

• Preparing a memo of findings and assessment (Develop EDD and CDD templates with Unit)

• Conducting EDD periodic reviews and remediations

• Handle escalations from front office or onboarding teams

• Ensuring unwanted prospects, relationships or exited customers are added to the internal Blacklist

• Working with team to develop enhanced desktop procedures

• Updating EDD and PEP list; conducting periodical reviews accordingly

• Provide guidance as needed to onboarding team(s) on additional document requirements as well as alerts warranting escalation

• Reviewing and assessing Alert escalations (Name screening for negative news, PEPs, and potential sanctions hits)

• Work closely with cross dept. stakeholders

• Support AML Escalations Manager on existing Business As Usual (BAU) KYC/EDD function enhancements to improve processes where needed

Qualifications

Expertise / Requirements:

• Previous experience in AML Compliance and KYC Regulations and Requirements

• Minimum 2-4 years experience in a similar AML capacity conducting Enhanced Due Diligence within a multi-faceted international financial services institution (preferably large international broker dealer, private banking or investment banking firm)

• Ability to conduct deep due diligence and make recommendations using good judgement based on information compiled

• Memorialize findings and risk assessment in EDD template

• Actively contribute to KYC/EDD projects and enhancements within Unit

• Appropriately assess risk, demonstrating particular consideration for the firm's reputation and safeguarding the firm, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating/reporting control issues with transparency.

• Good communication and writing skills

• Ability to collaborate, build relationships and work across the organization in a multi-site matrix environment

• Extensive experience in Financial Services (Broker Dealer, Retail and Wholesale Banking)