EDD/CDD Compliance Associate
📋 Role Overview & Responsibilities
We are currently seeking CDD/EDD Transaction Monitoring Associates for a reputable commercial banking client.
You will be responsible for conducting thorough Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews to identify and mitigate potential risks associated with money laundering, terrorist financing, and other illicit activities. You will work closely with the compliance team to ensure adherence to regulatory requirements and internal policies.
Key Responsibilities:Perform detailed CDD/EDD reviews on new and existing customers to assess their risk profile and compliance with regulatory standards.Analyze customer transactions and account activities to detect suspicious patterns or behaviors indicative of money laundering or other illicit activities.Utilize advanced transaction monitoring tools and systems to identify and investigate potential financial crimes.Conduct thorough research and analysis of customer information, including reviewing documentation, conducting internet searches, and verifying identities.Collaborate with cross-functional teams, including Compliance, Legal, and Risk Management, to escalate and investigate suspicious activities in a timely manner.Prepare and maintain accurate documentation of CDD/EDD reviews and investigation findings, ensuring compliance with record-keeping requirements.Stay updated on relevant laws, regulations, and industry best practices related to anti-money laundering (AML) and counter-terrorism financing (CTF) to enhance knowledge and expertise.
Your Skills & Experience:Proven experience in compliance, AML, or financial crime investigations within the banking or financial services industry.Strong understanding of AML/CTF regulations, including KYC/CDD/EDD requirements.Proficiency in using AML transaction monitoring tools and software.Excellent analytical skills with the ability to interpret complex data and identify patterns.Detail-oriented with a high level of accuracy in documentation and reporting.Effective communication skills, both verbal and written, with the ability to collaborate with diverse teams.Professional certification such as CAMS (Certified Anti-Money Laundering Specialist) or similar is a plus.
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This position is located in New York City Metropolitan Area with potential relocation and sponsorship assistance depending on candidate qualifications.
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