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AML Associate / Sr. Analyst / Analyst will be responsible for completing KYC files, adjudicate sanctions hits; prepare information and basis of sanctions analysis; understanding transaction history to review, analyze and conclude on risk. Understand the flow of fund to determine if it appears be legitimate Mapping where money is coming from and where it is going, to determine if it appears to be legitimate. Determination of compliance policies being in place and complied with the business entity
Key accountabilities of the role include:
Prepare KYC 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.
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.
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
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.
Ensure problem escalation, mitigation and preventative measures are consistent with regulatory and corporate requirements
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.
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.
Log all incoming referrals/triggers/Unusual Activity Reports, alerts, etc. ensuring all required data is captured completely and accurately.
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
Support management to establish and maintain AML policies and procedures, risk and control frameworks, including implementing effective controls, in accordance with the AML Policy and the AML Enterprise Program Manual;
Support management to complete the quarterly AML Regulatory Compliance Management (RCM) to ensure controls associated with each regulatory requirement are in place;
Participate / Lead China initiatives / projects related to AML / ATF changes, including participate in the creation of project documentation and requirements, project planning and tracking, and liaising with project stakeholders
The nature of this role will shift over time as the business mix and structure of BMO Asia changes and grows.
Knowledge and Skills
University degree or college diploma, preferably in business finance, law or related
CAMS designation or in process
Relevant AML experience in financial institution
6-9 years for Associate
4-6 years for Sr. Analyst
Less than 4 years for Analyst
Good knowledge of applicable AML regulatory requirements and practices
Good product knowledge on Capital Markets and PBS applicable regulations
Proven project management capabilities and an ability to co-ordinate the efforts of people and resources from different lines of business or support areas
Fluency (written/oral) in English and Mandarin required
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