Recruiter's Glossary

Examples: Due Diligence • Training Program • Compliance Testing

AML

Term from Compliance industry explained for recruiters

AML (Anti-Money Laundering) is a set of rules, procedures, and tools that banks and financial companies use to prevent criminals from making illegal money look legal. Think of it as a security system that helps financial institutions spot and stop suspicious money movements. Similar terms include BSA (Bank Secrecy Act) compliance and Financial Crime Prevention. AML specialists are like financial detectives who help protect companies from being used for money laundering or funding illegal activities. This role has become increasingly important as governments worldwide strengthen their fight against financial crime.

Examples in Resumes

Led team of 5 professionals implementing AML monitoring systems

Conducted Anti-Money Laundering investigations and filed suspicious activity reports

Developed AML training programs for over 200 employees

Enhanced Anti Money Laundering policies to meet new regulations

Typical job title: "AML Analysts"

Also try searching for:

AML Analyst AML Compliance Officer Financial Crime Analyst AML Investigator Compliance Specialist BSA/AML Officer AML Manager AML Consultant

Where to Find AML Analysts

Professional Associations

Job Boards

Online Networks

• LinkedIn AML Groups Search
• LinkedIn AML Professionals

Example Interview Questions

Senior Level Questions

Q: How would you design an AML program for a new fintech company?

Expected Answer: A senior candidate should discuss risk assessment, policy creation, training programs, transaction monitoring systems, and regulatory reporting procedures. They should emphasize the importance of getting management buy-in and establishing clear communication channels.

Q: How do you stay current with changing AML regulations and ensure your team maintains compliance?

Expected Answer: Look for answers that mention regular training, subscriptions to regulatory updates, membership in professional associations, and processes for updating policies and procedures when regulations change.

Mid Level Questions

Q: What are some red flags you look for when reviewing transactions for potential money laundering?

Expected Answer: Candidate should mention patterns like unusual transaction sizes, frequent round numbers, multiple transactions just under reporting thresholds, and transactions with high-risk countries.

Q: Describe your experience with filing Suspicious Activity Reports (SARs)

Expected Answer: Should demonstrate knowledge of when SARs are required, what information to include, and confidentiality requirements. Should also understand filing deadlines and documentation needs.

Junior Level Questions

Q: What is the purpose of Know Your Customer (KYC) procedures?

Expected Answer: Should explain that KYC helps verify customer identity, assess their risk level, and ensure the bank understands the expected pattern of their transactions.

Q: What is money laundering and what are its basic stages?

Expected Answer: Should be able to explain that money laundering makes illegal money look legal, and describe the three basic stages: placement (getting illegal money into the financial system), layering (hiding its source), and integration (making it appear legitimate).