Job Summary

• We are seeking diligent and detail-oriented Junior AML Consultants to assist in a large-scale Anti-Money Laundering (AML) refresh project.

Key Responsibilities:

Customer Due Diligence (CDD) Reviews:

•  Adherence to the AML Refresh procedure and contact strategy. This includes (but is not limited to) ensuring the timely initiation of allocated cases, reviewing the completeness and quality of information returned by clients, accurately completing review checklists, and responding to client queries on a timely basis (by phone or email). This also involves verifying identity, assessing, and amending risk levels (including completing enhanced due diligence where appropriate), and documenting any changes in customer profiles.

Risk Assessment:

• Analysing customer transactions and behaviour patterns to identify higher risk clients, potential money laundering or suspicious activities. This may involve utilizing software tools for transaction monitoring and risk scoring. Assessing the risk rating of clients

Regulatory Compliance: 

• Staying up to date with relevant AML laws, regulations, and guidelines issued by regulatory authorities.

Documentation and Reporting: 

• Documenting findings from AML Refresh CDD reviews and suspicious activity investigations. Ensuring AML Refresh record keeping and tracking mechanisms are accurate and kept up to date.

Investigation of Suspicious Activities:

•  Investigating and escalating any unusual or suspicious activities identified during CDD reviews or transaction monitoring. This may involve conducting deeper analysis, gathering additional information, and collaborating with other departments or law enforcement agencies when necessary. Ensuring any suspicious activity is escalated to the Money Laundering Reporting Officer (MLRO) on a timely basis.

Training and Awareness: 

• Providing training and guidance to employees on AML policies, procedures, and best practices. Promoting a culture of compliance within the organization.

Technology Utilization: 

• Leveraging AML software and tools to streamline processes, enhance efficiency, and improve detection capabilities. This may include utilizing artificial intelligence and machine learning algorithms for pattern recognition and anomaly detection.

Collaboration: 

• Collaborating with other AML Refresh colleagues and departments such as compliance, legal, risk management, IT and the Head of Central BCU to address AML-related issues and implement effective solutions.

Quality Assurance: 

• Ensuring refresh files are completed to a high standard so that they stand up to quality assurance processes. This involves remediating findings from QA on a timely basis. Identifying areas for improvement and implementing corrective actions as needed.

Audits and Examinations: 

• Assisting with internal and external audits or examinations of the organisation’s AML program. Providing documentation and evidence to demonstrate compliance with regulatory requirements.