The AML Enhanced Due Diligence Specialist ("AML EDD Specilalist") is responsible for assessing the AML and reputational risk associated with higher risk client types as escalated through the first line operations and business units during onboarding and supports customer due diligence processes.
Job Requirements and Responsibilities include:
• Responsible for managing the FinCen 314a and IRS 8300 regulatory required functions and processes start to finish, including oversight responsibilities of business unit personal in performing this responsibility.
• Supports the company's customer screening process and procedures in place to detect high risk activities requiring enhanced due diligence.
• Assist in the enhancement and review of Client Risk Scoring, Client Identification and KYC documentation oversight requirements. Conduct reviews of client documentation/information submitted by business units; A good understanding of Corporate Formation Documents is needed.
• Responsible for collecting and analyzing documents related to account opening requirements in order to identify control persons and underlying beneficial owners.
• Enhance and manage a risk identification strategy that continually identifies new business risks and lessons learned from applicable regulatory enforcements.
• Monitor, review, and report unusual client/ policy activity to lead investigator.
• Perform research and provide guidance to inquiries from employees, business managers, internal and external auditors by providing information and guidance in a timely manner.
• Handle other duties as assigned to assist with the effective administration of the AML and KYC Policies.
• Knowledge of USA Patriot Act/Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) regulatory requirements required, including understanding of OFAC sanctions and CDD/KYC requirements.
• Minimum requirements: Bachelor's Degree, 2+ years of broker dealer, compliance, operations controls, new business onboarding, audit, legal, regulatory or law enforcement experience.
• Ability to identify gaps and/or risk exposure in AML compliance programs.
• Experience with conducting AML enhanced due diligence investigations and ability to explain new AML requirements.
• Demonstrated familiarity/competency in using transaction monitoring software, screening applications, and various AML Investigative tools. Knowledge of Norkom/Detica, Lexis Nexis, Bridger, and World-Check strongly preferred.
• Strong analytical, problem solving and organizational skills.
• Excellent written/verbal communication skills required.
• Excellent investigative/analytical/problem resolution skills required.
• Demonstrated ability to influence others in a team environment
• Able to work effectively with management, sales forces and third party service providers.
• Project Management and work planning skills.
• Relevant Professional Certification (Association of Certified Anti-Money Laundering Specialists (ACAMS), Associate of Certified Fraud Examiners (ACFE) or Association of Certified Financial Crime Specialists (ACFCS) is a plus.
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