anti-money laundering – emerging-role-in-analytics

Anti-money laundering – Emerging role in Analytics

Worried about the future due to the current status of engineering, and arts degrees, and a disruptively automating industry?

Only developing an attitude to adapt to the changing industry needs will keep you relevant.

Here is a new role that came to my knowledge which could impress either you make a career or add to your advice list as a teacher, a mentor, a parent, or a friend.

AML – Anti-money Laundering Professional

Why this role is inevitable?

Money laundering has serious impacts on any economy if left unchecked. It is considered to be the Achilles heels of criminal activities, as most organized crimes are unearthed through identifying the unscrupulous transactions and hidden assets that revealed the identity of the criminals. Hence, KYC mostly hire AML Analysts.

Which industry this role falls under?

This role is in demand in the FinTech or Payments industry; predominantly KYC roles also focus on AML.

Which degrees suit this role?

Bachelor’s in engineering or Master's in Management, Mathematics, Statistics or allied quantitative streams.

Apart from the degree, an aspirant makes a safe landing if one understands AML/CFT framework as well as exceptional research mindset. Possessing the ability to work autonomously and to coordinate with other departments and liaise with various stakeholders (internal / external). Further, robust numerical abilities, unique problem-solving and outstanding analytics skills would give an edge over others. Matchless organizational, communication, presentation, and project management skills are essential to excel in the role.

Should you get certified?

Yes! Though you possess exposure and experience, it is essential to be certified as a professional. There are various certifications available in the market. Any accepted AML certification would be an added advantage. Few courses available in the market are listed here:

  1. Certified AML-KYC Compliance Officer (Vskills)
  2. Certified Anti Money Laundering Specialist (CAMS)
  3. FinTech Security and Regulation (RegTech) (Coursera)
  4. Anti-Money Laundering (AML) Fundamentals (Udemy)
  5. Roles of Money Laundering Reporting Officer MLRO (AML CFT) (Udemy)
  6. Anti-Money Laundering Concepts: AML, KYC, and Compliance (Udemy)
  7. AML Compliance: Anti Money Laundering (AML) Online Course (Udemy)
  8. The Ultimate Guide to Money Laundering and AML Compliance (Udemy)
  9. AML Essentials: Anti Money Laundering, KYC, and Compliance (Udemy)
  10. Anti-Money Laundering (AML / CFT) Compliance Requirements (Udemy) [1]

What is expected for a fresher role?

  • Capital Markets Experience
  • Strong knowledge about AML/CTF (Counter-terrorist Financing) and sanctions
  • Good knowledge about banking/capital markets products, processes, and platforms etc.

How far can you grow in this domain?

Career in AML has scope from starting as a fresher and soaring to any imaginable high profile designation in the domain.




(Disclaimer: Courses listed above are for information purpose only. No marketing, recommendations or promotions intended)

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