KYC/KYB Specialist

Link Business Process Inc.; Pasig; On-site; PHP 420,000 - 660,000; Full time

Job summary

Veritas Pay is seeking a KYC and KYB Specialist to conduct customer due diligence and risk assessment for all merchants and related parties. You will be the first line of defense to prevent money laundering and terrorist financing, ensuring the company maintains a strong reputation and compliant onboarding.

The role requires deep knowledge of AML/KYC standards, data analysis, and documentation. You will collaborate with compliance and operations to decide on merchant eligibility and ongoing

Qualifications

• 3+ years of KYC/KYB/AML due diligence experience.
• Capable of data analysis, research, and documentation.
• Knowledge of AMLC, SEC, FATF and regulatory standards.
• Strong English reading and writing skills.
• Ability to work under pressure with minimal supervision.

Responsibilities

• Serve as first line of defense against money laundering and terrorism financing.
• Perform Customer Due Diligence.
• Conduct Enhanced Due Diligence and underwriting.
• Re-underwrite each merchant.
• Identify merchant business relationships and activities.
• Familiar with AMLC, SEC, Card Associations, FATF.
• Perform merchant risk assessment.
• Credit checking and risk assessment of merchants.
• Evaluate suspicious activities and potential losses or reputational risk.
• Monitor transactions beyond projected ticket size/volume.
• Communicate with acquiring bank for risk updates.
• Facilitate onboarding checks before account activation.
• Ensure smooth onboarding with compliance.
• Carry out additional duties as needed.

Skills

KYC/KYB

AML

Risk assessment

Data analysis

Documentation

Attention to detail

English fluency

Regulatory knowledge

Education

Bachelor's degree in Business

Job description

The KYC and KYB Specialist will be conducting the customer due diligence and Risk Assessment of all types of merchants, third parties associated with the company. He/she will play the essential role in ensuring the good reputation of Veritas Pay and must have the analytical power to help the other related department decide with whom Veritas Pay should/ should not do business with.

DUTIES AND RESPONSIBILITIES

1. 1. You are the first line of defense/gate keeper of Veritas Pay against money laundering and terrorist financing
2. 2. Must be able to perform Customer Due Diligence
3. 3. Must conduct Enhance Due Diligence and underwriting
4. 4. Must be able to re-underwrite each merchant
5. 5. Identify the types of business relations and activities that a merchant is likely to engage with.
6. 6. Must be familiar with the AMLC, SEC, Card Association, FATF and other related regulatory standard.
7. 7. Perform risk assessment of merchant
8. 8. Conduct Credit checking and risk assessment of merchant
9. 9. Determine whether the relations and activities could be suspicious and expose Veritas Pay to a potential financial loss or reputational risk.
10. 10. Monitoring of Transactions if exceeded the projected ticket size/volume of sales (in case there is changes with the product they offer/business nature that we might need to perform EDD or underwrite), TID/MID provided by the bank.
11. 11. Communicate with the acquiring bank for the risk assessment, MATCH checking and other updates on the requirements or KYC/KYB standard.
12. 12. Facilitating the onboarding process for new merchants, ensuring all necessary checks are completed before account activation.
13. 13. Ensuring a smooth and efficient onboarding experience for customers while maintaining compliance standards.
14. 14. Carry out additional responsibilities as needed based on business need

We are looking for you if

• You have atleast 3 years of work experience related to KYC, KYB/ AML Customer Due Diligence
• Fast learner, can work under pressure and under minimal supervision
• A graduate of any Bachelor of Science Degree or any other related Business-Related Course
• You have an expert skill in conducting effective due diligence and risk assessment investigation, including data analysis, research, and documentation
• You have developed understanding of the local and international financial system and banking as well as the regulatory environment and the impacts of non-compliance.
• You focus on delivery with strong attention to details and on time
• You are fluent/advance in English, reading and writing skills
• Experience/ knowledge in corporate compliance, business underwriting, financial analysis, sales and account management, payment industry, possible fraud detection, portfolio management, risk management, customer support and vendor interaction.