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Anti Money Laundering - Associate 2

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State Street

Oct 24, 2024

  • Job
    Full-time
    Mid Level
  • Hyderabad, +1
  • Quick Apply

AI generated summary

  • You need a Bachelor's degree, 3+ years in AML/KYC, strong analytical and communication skills, ability to engage senior staff, problem-solving skills, and knowledge of compliance regulations.
  • You will conduct KYC quality checks, assess AML risks, support reporting and projects, build stakeholder relations, and stay updated on financial crime regulations.

Requirements

  • Looking for a Quality control specialist with hands on experience in KYC process who can strengthen the Global AML Centre’s reputation for excellence in risk management by demonstrating clear ownership of risks, exercising discipline in risk management processes, and delivering on heightened regulatory requirements.
  • Bachelor’s degree and above from recognized university
  • 3+ years of experience in AML / KYC client on boarding / periodic reviews or compliance function will be added advantage
  • The ideal candidate will have high analytical, management and communication skills
  • Ability to engage with senior staff across multiple locations
  • Evidence of strong communication & influencing skills
  • Strong presentation skills including experience in face to face presentations to senior management
  • Proven ability to work towards tight deadlines
  • Problem solving ability
  • Excellent interpersonal, organizational and administrative skills
  • Good Microsoft Excel and Word skills
  • Very good language skills in English
  • Ability to work independently and collaboratively
  • Understanding of Quality Check frame work and identify process gaps
  • Advanced knowledge of anti-money laundering / know-your-customer regulations

Responsibilities

  • Perform quality control checks of KYC records following a risk based approach, focused on overall risk outcome
  • Demonstrate an understanding of the entity and if the current risk rating is appropriate
  • Summarize the AML risk profile of entities
  • Support the Outsourcing Governance Specialist/Risk Excellence Lead with commentary to support regular quality reporting to stakeholders
  • Establish strong relations with key stakeholders
  • Assist with external regulatory examinations or testing
  • Develop / update Risk Excellence team procedures / guidance notes / controls in accordance with standards, technology and operating model changes
  • Follow the speak up, listen up values - including timely escalation of AML concerns, suspicious activity or any corporate policy breaches
  • Attend and participate in AML awareness training sessions to continue to enhance the quality of deliverables
  • Support ad hoc and/ or strategic projects as required
  • Demonstrate commitment to AML risk excellence through the provision of ancillary tasks that support the firms know your customer due diligence
  • Maintain role-specific knowledge of the current anti-money laundering and financial crime risks and issues through completion of the annual AML Academy, and any other financial crime training deemed applicable to the role.

FAQs

What is the main responsibility of the Anti Money Laundering Associate 2?

The main responsibility is to perform quality control checks of KYC records following a risk-based approach, ensuring operational effectiveness and minimizing regulatory, monetary, and reputational risks.

What kind of experience is preferred for this role?

A preferred candidate should have 3+ years of experience in AML/KYC client onboarding or periodic reviews, or in a compliance function.

What educational qualifications are required for this position?

A bachelor’s degree or above from a recognized university is required.

What skills are important for success in this role?

Important skills include strong communication and influencing skills, ability to work towards tight deadlines, excellent interpersonal and organizational skills, and proficiency in Microsoft Excel and Word.

Is training provided for employees in this role?

Yes, employees are expected to attend AML awareness training sessions to enhance the quality of deliverables and maintain current knowledge of anti-money laundering and financial crime risks.

Will I be required to establish relationships with stakeholders?

Yes, establishing strong relationships with key stakeholders is a key responsibility of this position.

Are there opportunities for career development within the company?

Yes, State Street offers a wealth of development programs and educational support to help employees reach their full potential.

What is the work environment like at State Street?

State Street aims to create a great work environment with competitive and comprehensive benefits packages, including flexible work arrangements and support for work-life balance.

Does State Street promote diversity and inclusion?

Yes, State Street values diverse backgrounds and experiences and actively seeks to create an inclusive environment where everyone can thrive.

How often will I engage with senior staff in this role?

This role requires the ability to engage with senior staff across multiple locations regularly.

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State Street

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