Position Summary:
The KYC & Enhanced Due Diligence (EDD) Analyst will be responsible for conducting due diligence on customers to ensure compliance with anti-money laundering (AML) regulations and internal policies. This role involves performing KYC and EDD checks, analyzing customer profiles and transactions, and identifying high-risk activities or potential financial crime risks. The ideal candidate will have experience with regulatory requirements, strong analytical skills, and a keen attention to detail.
Key Responsibilities:
KYC (Know Your Customer) Due Diligence:
Conduct customer due diligence (CDD) as part of the account onboarding process and periodic reviews of existing clients.
Review customer documentation, including identification, proof of address, and source of funds, ensuring compliance with KYC regulations.
Assess client risk profiles and ensure that all relevant information is captured accurately in compliance with regulatory standards.
Enhanced Due Diligence (EDD) Investigations:
Perform in-depth investigations for high-risk clients, including politically exposed persons (PEPs), clients from high-risk jurisdictions, and large transactions.
Investigate and verify adverse media, criminal backgrounds, and other red flags for potential financial crime risks.
Utilize various third-party sources (e.g., sanctions lists, World-Check, LexisNexis) to gather detailed information on clients.
Risk Assessment and Reporting:
Assess and document the level of risk associated with individual clients based on their profiles, transactions, and behavior.
Prepare reports on high-risk clients and escalations for senior management, making recommendations for mitigating risk or further investigation.
Compliance with AML and Regulatory Requirements:
Ensure compliance with all applicable laws, regulations, and internal policies related to KYC and AML procedures.
Monitor changes in regulations and assist with the implementation of new compliance procedures to address evolving risk factors.
Support internal audits and external regulatory inspections by providing required documentation and explanations.