Anti-Money Laundering Compliance Officer Job Description

Intro: Job Overview

The AML Compliance Officer/Manager has the responsibility of managing and maintaining the organization’s obligations as it relates to the supervision and reporting of money laundering activities.

He/she will be responsible for designing, evaluating, supporting, and influencing a culture of compliance throughout the organization, as well as assisting in the management and execution of an efficient compliance monitoring program.

Anti-Money Laundering Compliance Officer/Manager Job Responsibilities

Responsibilities include but are not limited to:

Assist with the development and management of a compliance sign-off process for each department
Assist in the development of compliance initiatives and programs to comply with the respective legal, licensing, and regulatory obligations
Provide assistance in preparing for impending regulatory changes or revisions to licensing structure
Handle the management and execution of second line monitoring and assessment program for Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF)
Improve and maintain AML/CTF policies and procedures
Ensure compliance with regulatory framework put in place by local and international stakeholders
Aid in the improvement of tools to monitor, analyze, and report suspicious activity
Handle file reviews of suspicious activity to ensure compliance with the policies and procedures put in place
Identify and inform of any changes to legislation and other regulatory requirements relating to AML/CTF

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Aid in the design, development, and implementation of a risk assessment framework to support all customer interactions
Provide oversight to the operational team, which acts as the first line monitors and investigators of suspicious activity
Ensure consistent and timely feedback on cases that have been escalated
Liaise with management to develop investigative strategies
Develop and participate in compliance programs and initiatives
Provide relevant compliance reporting to ensure the completion and proper analysis of suspicious activity reports that have been conducted
Ensure detailed and prompt investigation of all AML/CTF incidents and cases
Manage the resolution of cases through internal and external communications
Help with identifying any AML/CTF loopholes and coordinating projects to bridge those gaps
Maintain a proper register of all incidents reported internally and externally
Develop and execute face-to-face training for staff in various business units as required
Aid in general compliance awareness and refresher training

Reports to Whom

Generally, the Anti-Money Laundering Compliance Officer/Manager reports directly to the Chief Risk Officer.

Anti-Money Laundering Compliance Officer/Manager Qualifications

Degree in a law or business discipline
3-5 years’ experience working in finance
Experience developing and implementing compliance programs
Team player with the ability to work unsupervised
Exceptional analytical and investigative skills
Strong project management skills
Experience in auditing a distinct advantage
Willingness to work on various compliance issues
Must be able to adapt to working in a fast-paced environment
Excellent verbal and written communication skills
Exceptional presentation skills
Strong organization skills and attention to detail
Proficient in Microsoft Office Suite (Word, Excel, Project, PowerPoint)

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