AML Analyst/ Specialist (KYC + EDD focus)

  • Competitive
  • Shanghai, Shanghai Shi, China
  • Permanent, Full time
  • Bank of Montreal Asia
  • 11 Nov 18

MANDATE: The AML Analyst /Specialist 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. This role will require the incumbent to understand, in some depth, the 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.

KYC Risk Due Diligence
The incumbent will risk score each client, complete the required documentation and collect EDD/CDD documentation for the files/customers that meet high risk criteria.  The incumbent will also be involved in regular communication with various lines of businesses for documentation, clarifications, and on project work. They will gather information from this and various other sources and will develop an AML file that is complete, well organized and forms the basis for the enhanced due diligence. The incumbent is accountable to ensure all tracking is completed and documented to audit control levels.  As part of the KYC role and separately, the incumbent will need to adjudicate “hits” (to adverse media, sanctions, official lists, crimes, etc.) with adequate analysis recorded in the file.

EDD Risk Due Diligence and Transaction Monitoring
The incumbent is accountable to mitigate and manage risk exposure pertaining to AML/ATF by completing standardized assessments of information and activities associated with accounts that have been identified as high risk.  They will collect and analyze data to assist in determining the extent and materiality of the risk this account and the broader customer relationship presents and will develop recommendations for actions to maintain the account relationship within the defined tolerance level or, if this is not possible, will recommend closure/demarket.   This role will risk score each client, and gather and validate all EDD/CDD documentation for each required account.  The incumbent will maintain account files in a manner that will ensure compliance with the AML/TF customer due diligence operating directive and AML procedures.  The incumbent will provide advice and guidance to the lines of business regarding processes related to high risk accounts to support their efforts to effectively manage risk

Business Control Support
The incumbent will lead, assist and/or support the Department with the following accountabilities where assigned:
 assist with the design and implementation of solutions to new AML/ATF or other regulatory or policy requirements,
 assist in projects related to AML/ATF or other business control changes,
 assist in creating and maintaining AML/ATF or other related procedures,
 assist with the creation and delivery of training programs,
 assist with tracking and resolution of AML/ATF or other issues,
 assist with reviews of new products and initiatives for AML and other assigned regulatory/risk impacts,
 assist with or approve certain basic AML/ATF and other assigned risk taking and attestations,
 assist in preparing AML/ATF and other assigned related control documentation,
 assist with AML/ATF and other assigned reporting to senior management, and
 as a supplementary role, lead or assist with other business control mandates (e.g. FATCA)
 other tasks as assigned.

The nature of this role will shift over time as the business mix and structure of BMO Asia changes and grows.

a) Knowledge
University degree related to business, finance, science, technology or equivalent experience
Financial Institution or related experience preferred (required for more senior roles)
Working knowledge of applicable Bank systems and procedures
Knowledge of Microsoft Office Suite
Working knowledge of AML strongly preferred

b) Skills
Analytical Thinking
Problem Solving
Organizational Understanding
Risk Management
Problem Solving
Relationship Management
Fluency (written/oral) in English and Mandarin required, Cantonese & other Asian languages an asset
Demonstrated above average judgment, decisiveness,
Excellent verbal and written communication skills.