AML Officer
Anti-Money Laundering (AML) Officers help financial services businesses prevent their services from being used to handle money gained through criminal activity. They carry out checks on customers, review transactions and help identify unusual or suspicious activity.
Working within a compliance or financial crime team, they help businesses follow anti-money laundering requirements and maintain effective procedures to prevent financial crime. Depending on the organisation, AML responsibilities may form a dedicated role or be combined with wider compliance duties.
Day-to-day tasks
In this role you could:
- Check customer identity documents and information when new accounts or business relationships are set up.
- Review customer records to make sure information is complete and up to date.
- Assess the money laundering risks associated with customers and their activities.
- Carry out more detailed checks on customers considered to present a higher risk.
- Screen customers against financial sanctions lists and review potential matches.
- Monitor transactions and investigate unusual activity.
- Raise concerns with the Money Laundering Reporting Officer (MLRO) or other appropriate colleagues.
- Maintain accurate records of checks, findings and decisions.
- Help review and update anti-money laundering policies and procedures.
- Support staff training and prepare reports on AML checks and risks.
Skills & knowledge
You'll need:
- An understanding of anti-money laundering requirements and financial crime prevention.
- Knowledge of customer identity checks, often called Know Your Customer (KYC), and customer due diligence.
- Attention to detail when checking documents and reviewing transactions.
- Analytical skills to identify unusual activity and assess risks.
- Sound judgement and the confidence to raise concerns.
- Clear communication skills to explain requirements and request information.
- Organisational skills to manage checks, records and deadlines.
- The ability to work with colleagues across compliance and other business teams.
Industry Qualifications
For information about qualifications, entry requirements and professional development, visit:
- International Compliance Association (ICA)
- Chartered Institute for Securities & Investment (CISI)