Under the general guidance of Senior Manager Operations, the KYC & AML Officer is a member of the Operation Team responsible for opening, amending, reviewing and exiting clients according to established policies and procedures. The KYC & AML Officer will also review client’s transactions to detect and report either proposed or completed unusual transactions.

KEY RESPONSIBILITIES

• Performing the due diligence on new Clients, requesting the KYC information, documentation, review and verification of received documentation and making an analytical risk assessment for new Clients.
• Thoroughly and succinctly document the research and analysis related to the financial activity and related entities of Clients, for an audience that includes Management, Regulators, Internal Audit, Senior Managers and Internal Compliance.
• Periodically evaluate existing Clients according to established policies and procedures.
• Periodical review of KYC records as to completeness, including verifying that due diligence has been performed and that CBK (due diligence) standards are complied with; also, that the files and risk assessments are current and up to date.
• Investigating high risk clients and reporting where necessary, including Politically Exposed Persons, and obtaining all necessary documentation to complete the client file.
• Process entries to open/close clients’ account on our KYC / Related Parties and CDD database and close the accounts on account level in Equation where applicable.
• Maintain continuous contact with customer in order to keep customer file updated.
• Process amended client’ records on our KYC and CDD database.
• Communicate effectively and efficiently with relevant internal and external parties to obtain KYC documents.
• Perform further investigation on identified suspicious client and client’s transactions and report to compliance officer.
• Responsible for a good understanding of CBK’s due diligence regulations, policies and procedures.
• Specific projects which may rise from time to time.
• Analyse and proactively identify risks and new AML concerns. Review recent news, court documents, and public/private sector white papers.
• Identify, analyse, and interpret trends or patterns in complex data sets; review computer reports, printouts, and performance indicators to locate and correct code problems.
• Gather raw data from prior AML Investigations, subpoenas, and prior escalations to detect trends and “connect the dots” amongst disparate data sets. Interpret data, analyse results using statistical techniques and provide ongoing reports; present data in charts, graphs, tables, design and develop relational databases for collecting data and building or designing data input/data collection screens.
• Utilize pertinent information to write clear and concise summary on the findings of the investigation to advise senior management on next steps.
• Make recommendations to senior management on next course of action – either relationship retention or termination and, when warranted, prepare Suspicious Activity Reports (SARs).
• Additional duties as assigned.
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm’s reputation and safeguarding IPay, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behaviour, conduct and business practices, and escalating, managing and reporting control issues with transparency.

General Requirements:

• Bachelor’s degree in finance, business administration, law, or a related field.
• AML Certifications (e.g., CAMS – Certified Anti-Money Laundering Specialist) is an added advantage.
• Familiarity with regulations such as the Financial Action Task Force (FATF) recommendations is necessary.
• Proficiency in KYC processes and procedures, including customer due diligence (CDD), enhanced due diligence (EDD), and ongoing monitoring, is crucial.
• Candidate should be adept at conducting risk assessments and identifying suspicious activity.
• Ability to assess and mitigate risks associated with money laundering, terrorist financing, and other financial crimes.
• Strong analytical skills and attention to detail are necessary for identifying and reporting suspicious transactions/activities (STR & SAR).
• Familiarity with AML/KYC software, screening tools, and databases is beneficial. Candidates should be comfortable using technology for data analysis, transaction monitoring, and reporting purposes.·