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Description Job Description: The KYC/EDD Analyst is responsible for conducting Know-Your Customer (KYC) and Enhanced Due Diligence (EDD) processes to ensure compliance with regulatory requirements and mitigate financial crime risks. The role involves onboarding new customers, assessing high-risk clients, and performing detailed due diligence reviews to safeguard the bank against money laundering, fraud, and other illicit activities.
Main Job Tasks And Responsibilities - Perform KYC checks on new and existing clients to verify identities, assess risk profiles, ad ensure compliance with AML/CTF regulations.
- Collect, review, and validate customer documentation (e.g., IDs, business licenses, formation documents, and financial statements).
- Maintain accurate and up-to-date customer records in compliance with internal policies and regulatory standards.
- Perform other ad-hoc projects as needed.
- Conduct EDD reviews for high-risk customers, including clients in high-risk industries, high risk jurisdictions, or complex business structures.
- Analyze sources of funds and wealth, transaction patterns, and business activities to identify red flags and escalate to the investigations team.
- Prepare detailed reports and case summaries with clear recommendations for approval, escalations, or offboarding of customer relationships.
- Work closely with managers, analysts, and other stakeholders to facilitate smooth onboarding and risk management processes.
- Document findings and provide reports to management or compliance teams.
- Participate in training sessions to enhance knowledge of KYC/EDD best practices.
- Assess customer risk levels based on industry, geography, product usage, transaction patterns.
- Support periodic reviews of existing clients to ensure compliance.
- Identify opportunities to streamline KYC/EDD workflows and improve operational efficiency.
- Engage in a feedback loop on tools, systems, and processes to enhance accuracy and compliance.
Education And Experience - Bachelor’s Degree in Business, Finance , Law, or Criminology or related field preferred.
- Three to five years’ experience in AML, KYC, EDD or customer onboarding within financial services, banking, fintech, or crypto
- Professional certifications such as CAMS, CFCS, CFE etc., or desire to obtain them.
- Strong understanding of AML/CTF regulations and KYC/EDD requirements.
- Experience working with high-risk customers and conducting EDD reviews.
- Excellent attention to detail and ability to manage sensitive and confidential information.
- Strong analytical, problem-solving, and decision-making skills.
- Effective communication skills, written and verbal, for reporting stakeholder information.
Key Competencies - Deep understanding of compliance requirements and ability to apply them effectively.
- Proactive in identifying potential risks associated with FinTech customers, including aggregators, independent sales organizations (ISOs), third party payment processors (TPPP), third party senders (TPS)
- Good verbal and written communication skills.
- Well organized; ability to multitask; attention to detail.
- Ability to prioritize and work well under pressure.
- Must be able to work in a team environment and adapt to change.
- Ability to manage multiple projects and deadlines simultaneously in a fast-paced, high production, professional environment.
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