KYC/AML Specialist

What is a KYC/AML Specialist?

A KYC/AML Specialist is a compliance professional responsible for implementing and overseeing an organization's "Know Your Customer" (KYC) and Anti-Money Laundering (AML) policies. They ensure that the company adheres to regulatory standards by verifying customer identities, assessing risk profiles, and monitoring transactions for suspicious activities. By maintaining robust compliance frameworks, KYC/AML Specialists play a crucial role in preventing financial crimes and safeguarding the organization's integrity.

In the FinTech industry, these specialists navigate a rapidly evolving landscape, dealing with innovative financial products and services. They must stay abreast of emerging technologies and regulatory changes to effectively manage compliance risks associated with digital transactions, cryptocurrencies, and other FinTech innovations.

Job Duties

• Conduct Customer Due Diligence (CDD): Verify the identity of new and existing customers by reviewing documentation and conducting risk assessments.
• Monitor Transactions: Analyze customer transactions to detect and report suspicious activities, ensuring timely escalation of potential compliance issues.
• Maintain Accurate Records: Keep detailed records of customer information, verification processes, and risk assessments to ensure compliance and facilitate audits.
• Stay Informed on Regulations: Keep up-to-date with changes in KYC and AML regulations, adapting internal policies and procedures accordingly. 
• Collaborate with Internal Teams: Work closely with various departments to ensure a comprehensive understanding of compliance requirements and effective implementation of KYC/AML policies.
• Provide Training and Support: Assist in developing and delivering training programs to educate staff on KYC/AML compliance and best practices.