CDD/EDD Compliance Specialist - Phaxis LLC

Position Description:

We are looking for a Compliance Professional specializing in Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) to fortify our regulatory compliance initiatives. This role will entail managing customer assessments, analyzing the existing CDD/EDD workflow, and ensuring alignment with compliance obligations. You may also work with outside contractors for the annual review tasks as needed.

Key Duties:

• Lead the execution of CDD and EDD assessments to align with regulatory standards and internal policies.
• Evaluate the existing workload to determine optimal staffing levels for compliance activities.
• Perform risk assessments on clients, highlighting those that necessitate enhanced scrutiny.
• Coordinate the annual review process, involving external resources when necessary to ensure deadlines are met.
• Ensure that all CDD and EDD activities comply with internal policies and regulatory mandates.
• Assist in enhancing workflows and processes related to compliance as needed.
• Collaborate with multiple teams to ensure accurate documentation and timely reporting of customer data.
• Provide updates to leadership on CDD/EDD initiatives and any staffing requirements.
• Stay updated on regulatory changes that may impact CDD/EDD practices and propose necessary adjustments to processes.

Qualifications:

• A bachelor's degree in a relevant discipline, such as finance, business, or a related field.
• Minimum of 3 years of experience in compliance, specifically in CDD/EDD within the financial services sector.
• Strong knowledge of relevant regulations, including Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
• Experience in managing compliance workflows and high-risk customer evaluations.
• Exceptional analytical skills and meticulous attention to detail.
• Strong communication skills and the ability to collaborate effectively with cross-functional teams.
• Experience in overseeing external contractors is a plus.
• Relevant professional certifications, such as CAMS or similar, are preferred.

Technical Skills:

• Competency in Microsoft Office applications and the ability to learn internal systems quickly.