Financial Crimes Compliance Analyst

Vaco Recruiter Services; New York (NY); Remote; USD 60,000 - 80,000; Full time

Job summary

A leading financial services firm is seeking a Financial Crimes Compliance Analyst for a temporary, fully remote position. The role involves reviewing sanctions alerts, conducting KYC and EDD reviews, and managing investigations. Candidates should have experience in financial crimes compliance and strong analytical skills. This role offers a pay rate of $25-$30/hr, with a duration of 4-6 months and the opportunity for extension based on performance.

Qualifications

• Experience in financial crimes compliance and KYC regulations.
• Strong analytical skills to assess transaction data.
• Ability to work with large volumes of data and make informed decisions.

Responsibilities

• Review sanctions transaction monitoring alerts and make decisions.
• Conduct perpetual KYC reviews and manage backlog cases.
• Perform enhanced due diligence reviews on high-risk customers.
• Engage in R16 investigations to analyze transactions.
• Assist in the launch of compliance controls in new geographies.

Job description

Client: Fintech Organization
Role: Financial Crimes Compliance Analyst (Temporary)
Pay Rate: $25-$30/hr
Location: *Fully Remote*
Duration: 4-6 months with the opportunity to extend based on performance.

Responsibilities:

• Sanctions Transaction Monitoring Alert Reviews: This crucial task involves the meticulous review of alerts generated by our sanctions screening systems. These alerts flag transactions that may involve geographies or other data triggers with a sanctions nexus. The contractors will be responsible for investigating these alerts, analyzing transaction details, and making informed decisions on whether to clear the transaction or escalate it for further review.
• Perpetual KYC (pKYC) Reviews: This is a continuous process of re-evaluating and updating customer due diligence information to ensure ongoing compliance with Know Your Customer (KYC) regulations. The current backlog of pKYC reviews stands at a significant 5,665 cases and continues to grow. Since its launch four months ago, this process has generated an average of approximately 2,000 cases per month. The contractors will be responsible for systematically working through this backlog, conducting comprehensive reviews of customer profiles, identifying any changes in risk factors, and coordinating with Fraud Ops to update records accordingly.
• Enhanced Due Diligence (EDD) Reviews: EDD is a more intensive form of customer due diligence applied to high-risk customers based on Affirm’s customer risk rating model. The contractors will be responsible for conducting in-depth reviews, which involve gathering additional information, scrutinizing risks associated with the account, and assessing the legitimacy of transactions.
• R16 Investigations: The contractors will be involved in conducting R16 investigations, which typically refer to specific types of regulatory or internal investigations related to sanctions. This may involve gathering evidence, researching relevant parties, analyzing transactional data, and preparing detailed reports.
• Further Launch of Controls (e.g., KYC and EDD in other geographies outside the US): This responsibility involves active participation in the expansion of existing compliance controls, specifically pKYC and EDD, into new international geographies beyond the United States. The contractors will perform the day-to-day operations once these are built and launched with the UK likely to be first based on regulatory requirements.