Job description
GENERAL SUMMARY
Ensure ongoing compliance with the objectives of the Bank Secrecy Act (BSA), Anti-Money-Laundering (AML), Customer Due Diligence/Know Your Customer/Enhanced Due Diligence (CDD/KYC/EDD) policies, procedures, and job aids adopted by Cathay Bank. The objective of the CDD/EDD role is to enable the bank to predict with relative certainty the types of transactions in which a customer is likely to engage. This function assists the bank in determining when transactions are potentially suspicious. The concept of CDD/EDD begins with verifying the customer’s identity and assessing the risks associated with that customer.
The CDD/EDD Analyst will evaluate information on the customer such as purpose of the account, source of funds and wealth, ownership/control of the account, occupation or type of business, domicile, proximity of residence to the Bank, primary trade area, business operations, major vendors/suppliers, expected account activities, etc.
ESSENTIAL FUNCTIONS
Evaluate daily account opening CDD/EDD profile report for quality assurance purposes.
Effectively communicate with the branches with regard to CDD/EDD account opening discrepancies.
Update/populate consumer and commercial customer CDD/EDD profiles in the EDD Module.
Ensure that any anomalies noted between original expected activities disclosed by the customer at account opening versus actual activities observed are verified and documented in the EDD Module .
QUALIFICATIONS
Bachelor’s degree preferred but not required.
Professional certification (ACAMS, CFE) is a plus.
2 or more years of investigative or related experience with specific emphasis on BSA/AML and EDD/KYC preferred.
Knowledge of BSA/AML and EDD/KYC laws and the ability to apply this knowledge in assessing consumer and commercial customer CDD/EDD profiles.
Excellent investigative, analytical and problem resolution skills.
Excellent communication skills, both written and verbal.
Excellent organizational and time management skills.
Ability to act interactively with staff.
Ability to prioritize deliverables in a timely, effective manner.
Flexibility to adapt to changing priorities to meet business needs.
Demonstrated familiarity and competency in using a variety of in-house software and AML and EDD compliance monitoring systems.
Proficient in the Microsoft suite of products and Internet-based research.