EDD, KYC Analyst Job at Evolve Bank & Trust, Memphis, TN

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  • Evolve Bank & Trust
  • Memphis, TN

Job Description

Job Details

Description

Job Description:

The KYC/EDD Analyst is responsible for conducting Know-Your Customer (KYC) and Enhanced Due Diligence (EDD) processes to ensure compliance with regulatory requirements and mitigate financial crime risks. The role involves onboarding new customers, assessing high-risk clients, and performing detailed due diligence reviews to safeguard the bank against money laundering, fraud, and other illicit activities.

Main Job Tasks And Responsibilities

  • Perform KYC checks on new and existing clients to verify identities, assess risk profiles, ad ensure compliance with AML/CTF regulations.
  • Collect, review, and validate customer documentation (e.g., IDs, business licenses, formation documents, and financial statements).
  • Maintain accurate and up-to-date customer records in compliance with internal policies and regulatory standards.
  • Perform other ad-hoc projects as needed.
  • Conduct EDD reviews for high-risk customers, including clients in high-risk industries, high risk jurisdictions, or complex business structures.
  • Analyze sources of funds and wealth, transaction patterns, and business activities to identify red flags and escalate to the investigations team.
  • Prepare detailed reports and case summaries with clear recommendations for approval, escalations, or offboarding of customer relationships.
  • Work closely with managers, analysts, and other stakeholders to facilitate smooth onboarding and risk management processes.
  • Document findings and provide reports to management or compliance teams.
  • Participate in training sessions to enhance knowledge of KYC/EDD best practices.
  • Assess customer risk levels based on industry, geography, product usage, transaction patterns.
  • Support periodic reviews of existing clients to ensure compliance.
  • Identify opportunities to streamline KYC/EDD workflows and improve operational efficiency.
  • Engage in a feedback loop on tools, systems, and processes to enhance accuracy and compliance.

Education And Experience

  • Bachelor’s Degree in Business, Finance , Law, or Criminology or related field preferred.
  • Three to five years’ experience in AML, KYC, EDD or customer onboarding within financial services, banking, fintech, or crypto
  • Professional certifications such as CAMS, CFCS, CFE etc., or desire to obtain them.
  • Strong understanding of AML/CTF regulations and KYC/EDD requirements.
  • Experience working with high-risk customers and conducting EDD reviews.
  • Excellent attention to detail and ability to manage sensitive and confidential information.
  • Strong analytical, problem-solving, and decision-making skills.
  • Effective communication skills, written and verbal, for reporting stakeholder information.

Key Competencies

  • Deep understanding of compliance requirements and ability to apply them effectively.
  • Proactive in identifying potential risks associated with FinTech customers, including aggregators, independent sales organizations (ISOs), third party payment processors (TPPP), third party senders (TPS)
  • Good verbal and written communication skills.
  • Well organized; ability to multitask; attention to detail.
  • Ability to prioritize and work well under pressure.
  • Must be able to work in a team environment and adapt to change.
  • Ability to manage multiple projects and deadlines simultaneously in a fast-paced, high production, professional environment.

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