AML Assistant | Almana Exchange

You are responsible for ensuring compliance with Qatar Central Bank (QCB) regulations and international anti-money laundering (AML) and counter-terrorist financing (CFT) laws. This role involves conducting customer due diligence, monitoring transactions, investigating suspicious activities, and assisting in regulatory reporting to prevent financial crimes within the exchange house.

Key Responsibilities:

1. Customer Due Diligence (CDD) & Enhanced Due Diligence (EDD)

• Conduct comprehensive CDD and EDD for onboarding and ongoing review of client profiles.
• Verify customer information, source of funds, and business activities to ensure compliance.
• Regularly update customer risk profiles based on transaction history and behavior.

2. Transaction Monitoring & Investigation

• Manage transaction monitoring systems, efficiently addressing system-generated alerts and taking decisive action based on investigative findings.
• Diligently investigate and resolve AML alerts, including scrutiny of sanctions, Politically Exposed Persons (PEPs), adverse media, and internal watchlists.
• Analyze high-risk transactions, including large cash transfers, cross-border remittances, and third-party payments.
• Escalate suspect transactions to the Money Laundering Reporting Officer (MLRO)/Deputy MLRO for in-depth analysis.

3. Suspicious Activity Reporting (SAR) & Regulatory Compliance

• Prepare and submit Suspicious Transaction Reports (STRs) to Qatar Financial Information Unit (QFIU) as required.
• Ensure timely and accurate reporting of potential money laundering or terrorist financing activities.
• Maintain detailed records of all reported transactions for audits and regulatory reviews.
• Assist in responding to regulatory inquiries and examinations from QCB and other authorities.

4. Risk Assessment & Mitigation

• Conduct AML risk assessments for customers, products, and services to identify vulnerabilities.
• Assist in developing and implementing risk-based AML policies and procedures.
• Recommend mitigation strategies for high-risk transactions and customers.
• Support the implementation of internal controls to strengthen the exchange house's AML framework.

5. Internal Audits & Compliance Reviews

• Support internal and external AML audits by providing necessary reports and documentation.
• Assist in periodic reviews of AML compliance processes to identify gaps and suggest improvements.
• Work closely with auditors, compliance officers, and legal teams to address findings.

6. Training & Awareness

• Assist in the development and delivery of AML training programs to enhance organizational compliance awareness.
• Educate staff on AML red flags, regulatory updates, and reporting procedures.
• Promote a strong compliance culture within the exchange house.

7. Policy Development & Updates

• Contribute to the periodic updating of AML policies and Know Your Customer (KYC) procedures to align with evolving regulatory requirements.
• Ensure proper documentation of AML investigations, STRs, and customer records.
• Work with IT and compliance teams to enhance AML software functionality and reporting capabilities.