About the role
The GR Anti Money Laundering(AML) Ops - Source of Wealth Preparer is responsible for conducting thorough research and analysis to accurately document the source of wealth for high-risk customers, ensuring compliance with AML regulations and internal policies.
BankingOnsite
Key Responsibilities
- Conduct in-depth research using internal and external sources (e.g., public records, open-source intelligence, regulatory databases, client-provided documentation) to identify and verify the legitimate source of wealth for designated customers.
- Analyze complex financial information, business structures, and legal documents to construct a clear and concise narrative explaining the customer's wealth accumulation.
- Prepare comprehensive Source of Wealth (SOW) reports, ensuring accuracy, completeness, and adherence to established templates and quality standards.
- Collaborate effectively with Relationship Managers, Compliance Officers, and other stakeholders to gather necessary information and clarify discrepancies.
- Identify and escalate potential red flags, suspicious activity, or inconsistencies observed during the SOW preparation process to relevant teams or management.
- Maintain meticulous records of all research conducted and documentation reviewed in accordance with bank policies and regulatory requirements.
Requirements
- Bachelor's degree in Finance, Economics, Accounting, Law, Criminal Justice, or a related field.
- Minimum of 2-4 years of experience in Anti-Money Laundering (AML) operations, financial crime compliance, due diligence, or a similar role within the financial services industry.
- Strong understanding of AML regulations, particularly those related to customer due diligence (CDD) and enhanced due diligence (EDD), including Source of Wealth requirements.
- Proven ability to conduct thorough research, analyze complex data, and synthesize information into clear and coherent reports.
- Excellent written and verbal communication skills, with the ability to articulate complex financial concepts clearly.
- High level of attention to detail and accuracy in all work performed.