Performing enhanced customer due diligence (ECDD) reviews on entity and individual customers requested by the Central Bank of UAE.
As part of undertaking ECDDs, AML analyst will
Perform public domain searches on related names to identify adverse media, line of business or other relevant information depending on ECDD requirements.
Analyze customer?s transaction activity
Understand customer?s business model / source of wealth
Review existing information available on customer in bank records
Raise request for information (RFI) to Business units, where deemed necessary to seek transaction supporting documents like invoices, bills of lading / transport documents, contracts / agreements, as appropriate
Maintain robust MIS of ECDDs and follow-up for responses to RFIs with Business units.
Finally assess and conclude the ECDD on basis of information gathered on the customer and undertake appropriate actions, including decision to exit / retain, reporting SAR/STR, extending the ECDD to any other related parties etc..
AML analyst will also be responsible for undertaking data driven analysis to identify patterns/ emerging trends form compliance risk perspective using existing bank systems and primarily MS excel functions.
