AML Analyst

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Bank of Montreal Asia
  • 24 Sep 16

The AML Analyst is accountable for a variety of tasks related to AML risk-control with a particular focus on completing Know Your Client (KYC) risk due diligence and Enhanced Due Diligence (EDD) risk monitoring (including transactional reviews). This role will maintain an understanding of AML policies, procedures and systems. It will require the incumbent to understand various Capital Markets lines of business, products, and customers’ business to determine the likelihood that the use of BMO services is for money-laundering or terrorist financing purposes.

Job Duties

  1. Prepare KYUC files, collect and analyze a wide variety of information to conduct KYC due diligence on clients; Prepare files within the established prescribed processes/guidelines set by the AML leadership team to identify and document possible risks specific to this account and preparing files for review.
  2. Collect additional information pertinent to the investigation and conduct enhanced due diligence for higher risk clients; recommend, assess risks posed to the Bank, and provide a final recommendation to onboard/maintain/demarket client based on assessment and risk of client.
  3. Follow up for documentation / information if not received in a timely manner. Communicate with Front Line and lines of business partners and Customer directly (where possible/appropriate) to obtain required information/documentation
  4. Document all information found throughout the investigation, developing and maintaining account files in a manner that will ensure compliance with the AML/TF customer due diligence operating directive and AML procedures.
  5. Ensure problem escalation, mitigation and preventative measures are consistent with regulatory and corporate requirements
  6. Analyze information related to system or manually generated alerts to identify persons and entities that may be laundering money or funding terrorism, escalating as appropriate for further investigation or reporting in accordance with defined processes and legislation.
  7. Identify unusual activities and behaviors across multiple products, analyzing and assessing information and referring all transactions that may relate to money laundering or terrorist financing for further investigation or reporting as outlined in documented processes and protocols.
  8. Log all incoming referrals/triggers/Unusual Activity Reports, alerts, etc. ensuring all required data is captured completely and accurately.
  9. Support the fulfillment of necessary reporting requirements by ensuring accurate documentation, timely disposition and provision of critical information assessment including input to MIS, for analysis and reporting on information from assigned systems for the purpose of analyzing and detecting name matches/irrational or unusual activity, as required
  10. Maintain an understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal activities and developing trends. Assist in identifying opportunities to improve processes and procedures and additional training requirements for the group

Requirements

a) Knowledge:

  • University degree or college diploma, preferably in business finance, law or related
  • 1 - 3 years financial services experience
  • Working knowledge of AML strongly preferred
  • Financial Institution or related experience preferred
  • Working knowledge of applicable Bank systems and procedures
  • Knowledge of Microsoft Office Suite
  • Fluent in Mandarin Chinese and English; other languages an asset

b) Skills

  • Highly accurate and detail oriented
  • Excellent at organizing information
  • Strong analytical and issue/risk identification and escalation, with ability to identify and consider cross impacts, proven critical thinking
  • Strong interpersonal skills used within a demanding team environment and in client interaction
  • Highly proficient with MS Office and adept / learn new applications/systems
  • Works independently with appreciation for team work