AML Specialist

Role Description

The Anti-Money Laundering (AML) Specialist is a full-time, on-site role based in Baghdad. This position is responsible for monitoring transactions and customer activity to detect and report potential money laundering and terrorist financing risks. The AML Specialist conducts customer due diligence and enhanced due diligence reviews, screens clients and transactions against sanctions lists, and prepares suspicious transaction reports in line with regulatory requirements. The role includes maintaining up-to-date knowledge of applicable laws and regulations, supporting the design and improvement of AML policies and procedures, and collaborating with cross-functional teams such as Compliance, Risk, and Finance. The AML Specialist also assists with internal training, audit responses, and ongoing risk assessments to strengthen BeePay’s compliance framework.

Qualifications

• Candidates should possess strong Analytical Skills for transaction monitoring, pattern identification, and risk assessment.

• Candidates should possess effective Communication skills for writing clear reports, documenting findings, and collaborating with internal and external stakeholders.

• Candidates should possess Finance-related knowledge to understand payment services, financial products, and the broader regulatory environment.

• Candidates should possess Due Diligence skills for KYC reviews, enhanced due diligence, and customer risk profiling.

• Candidates should possess Sanction screening expertise for managing sanctions lists, alerts, and escalation procedures.

• Relevant experience in AML, compliance, or financial crime prevention within financial services or fintech.

• Familiarity with local and international AML/CTF regulations and standards (e.g., Central Bank of Iraq regulations, FATF recommendations).

• Bachelor’s degree in Finance, Business, Law, Economics, or a related field; relevant certifications (e.g., CAMS or equivalent) are an advantage.

• Minimum 2 years of relevant experience in AML/CFT, Compliance, banking, financial institutions or electronic payment companies.

• Ability to work with AML tools and data systems, with attention to detail and high professional integrity.

Main Responsibilities and Duties

• Monitor and review customer transactions to identify unusual activities and potential money laundering risks.

• Review AML alerts generated by transaction monitoring systems and conduct detailed investigations of suspicious transactions.

• Analyze transaction patterns across prepaid cards, digital wallets, POS terminals, payment gateways, and other electronic payment services.

• Conduct customer due diligence (CDD) and enhanced due diligence (EDD) in accordance with company policies and regulatory requirements.

• Perform customer screening against sanctions lists, politically exposed persons (PEPs), and other relevant watchlists.

• Investigate suspicious activities, collect supporting information, and prepare accurate investigation reports.

• Escalate suspicious transactions and high-risk cases to the direct supervisor for further review and appropriate action.

• Coordinate with Compliance, Fraud, Risk Management, Operations, and Customer Service teams to address AML-related issues.

• Review customer complaints and cases related to AML restrictions, including suspended cards and wallets, and provide investigation findings.

• Support the preparation of suspicious transaction reports and other AML reports as required.

• Maintain accurate records of AML alerts, investigations, customer reviews, and actions taken.

• Ensure compliance with applicable AML/CFT regulations, internal policies, and procedures.

Key Performance Indicators (KPIs)

• Timely review and investigation of AML alerts and suspicious transactions.

• Accuracy and quality of AML investigations and reports.

• Compliance with regulatory requirements and internal AML/CFT policies.

• Timely escalation of suspicious activities and high-risk cases.

• Accuracy and completeness of customer due diligence and screening reviews.

• Effective handling and resolution of AML-related customer cases.