About AFEX

Associated Foreign Exchange (AFEX) is the market leader in the field of worldwide payment services for companies, individuals and institutions conducting business internationally.

AFEX has been providing its diverse client base with exceptional exchange rates and premium service since 1979. With more than 30 years of market experience, AFEX brings reliability and stability to both corporate and private clients.

With a client base that includes universities, financial institutions, importers, small businesses and multi-national corporations, AFEX recognizes that different clients can have very distinct objectives and expectations when moving money internationally, and we take pride in tailoring our services to meet those specific requirements.

Role

The Compliance Analyst supports AFEX’s Compliance Program to ensure that all AFEX’s regulatory requirements are met. A successful Compliance Analyst (CA) reviews and assesses customer AML risk at the initial onboarding of new customers and throughout the customer relationship. The CA supports AFEX’s Know Your Customer (KYC) policies surrounding account onboarding and ongoing reviews, customer name and transaction screening, suspicious account activity identification and regulatory reports preparation and submission.

Responsibilities:

• Review and validate Customer Due Diligence and Enhanced Due Diligence (CDD/EDD) data obtained at account onboarding. Conduct periodic updates to customer profiles. Approve account applications and periodic updates.
• Act as the central point of contact for CDD/EDD.
• Clearly document and support judgments, decisions and rationale.
• Communicate with Customers and Business team members to verify specific or obtain additional data.
• Perform customer risk assessments; assess and analyze research results independently, and conduct complex data analysis applying background knowledge and experience.
• Ensure that customer information is correctly recorded in client relationship management system and in accordance with department standards.
• Review transactions subject to any OFAC/sanctions-related screening.
• Conduct ongoing EDD account reviews as per the schedule set by the Compliance Manager.
• When detected, write and prepare suspicious or attempted activity reports and recommend retention or termination of relationship.
• Assist in coordination and preparedness for independent review, agency and state exams.
• Maintain awareness of compliance issues as they arise.
• Execute directives and investigate ad-hoc issues from the Compliance Manager.
• Administer compliance obligations that correspond to each jurisdiction’s regulatory agencies.
• Maintain current knowledge of relevant regulatory and corporate governance standards.
• Maintain and update written procedures for assigned job responsibilities.
• Share department responsibilities with other team members in an equitable manner.

• Undergraduate degree in Business, Finance, Criminology and/or 2-5 years of experience in BSA/AML Compliance
• Certified Anti-Money Laundering Specialist with ACAMS or equivalent certification/license or currently in progress.
• Knowledge of the laws applicable to money laundering, including the Bank Secrecy Act (BSA), The USA PATRIOT Act, OFAC, FinCEN requirements, and SAR requirements as well as Canada’s PCMLTFA and FINTRAC Guidelines.
• Interest in developing proficiency in legal, regulatory and compliance issues in the financial industry.
• Attention to detail and the ability to work in a time-sensitive, deadline-driven environment while not compromising on assessment of risks.
• Excellent research skills, including experience with online research tools.
• Strong analytical skills; ability to analyze large amounts of data decipher higher risk attributes.
• Demonstrate sound judgment and decision making in the context of regulatory requirements, Company policies, and industry best practices;
• Apply project management and organization skills to a variety of tasks; demonstrating flexibility and problem-solving skills;
• Advanced proficiency in Microsoft Office (i.e., MS-Word, MS-Excel, MS-Access, MS-PowerPoint, and MS-Outlook).
• Ability to multitask and complete projects in a timely fashion.
• Strong organizational and time management skills.
• Self-starter with strong ability to work independently.
• Exhibit professional written and verbal communication at all times.
• Proficiency in a foreign language is a plus.

Global Payment and Risk Management Specialist