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.

Average Monthly Employment Cost (with Benefits)

Average Annual Employment Cost (with Benefits)

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KYC/AML Specialist Job Description

We are seeking a diligent and detail-oriented KYC/AML Specialist to join our compliance team in the FinTech sector. In this role, you will be responsible for conducting thorough customer due diligence, monitoring transactions, and ensuring compliance with all relevant KYC and AML regulations. If you have a strong understanding of regulatory frameworks and a passion for preventing financial crimes, we encourage you to apply.

In this role, you will: 

• 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.

Essential Skills & Qualifications:

• Educational Background: Bachelor’s degree in Finance, Business Administration, Law, or a related field.
• Experience: Minimum of 2-3 years in a KYC/AML compliance role, preferably within the FinTech or financial services industry.
• Regulatory Knowledge: Strong understanding of KYC and AML regulations, including familiarity with the latest industry standards and best practices.
• Analytical Skills: Excellent ability to analyze complex information and identify potential compliance risks.
• Attention to Detail: Meticulous in reviewing documentation and monitoring transactions to ensure accuracy and compliance.
• Communication Skills: Strong verbal and written communication skills, with the ability to clearly convey compliance requirements and findings.

Preferred Qualifications:

• Certifications: Professional certifications such as Certified Anti-Money Laundering Specialist (CAMS) or equivalent are highly desirable.
• Technical Proficiency: Experience with compliance software and tools used for monitoring and reporting.
• Problem-Solving Abilities: Proactive in identifying issues and implementing effective solutions to mitigate compliance risks.
• Adaptability: Ability to thrive in a fast-paced, dynamic environment, managing multiple priorities effectively.