What are the responsibilities and job description for the EDD Analyst position at Amalgamated Bank of NY?
The Enhanced Due Diligence Analyst plays a critical role in identifying and mitigating financial crime risks by conducting in-depth reviews of high-risk clients and transactions. This position supports the institution’s compliance with anti-money laundering (AML), counter-terrorist financing (CTF), and sanctions regulations through thorough analysis and documentation.
Analyst will review customer relationships that are designated as high-risk to determine if there is unusual activity or other risk factors identified, perform a risk analysis, and make a final recommendation for the customer’s risk rating based on the enhanced due diligence performed.
Essential Job Functions:
- Execute thorough enhanced due diligence (EDD) investigations on designated high-risk customers—including politically exposed persons (PEPs), entities with complex ownership structures, and individuals operating in high-risk jurisdictions—in full alignment with departmental procedures and regulatory standards.
- Ensure timely completion of case reviews by adhering to assigned due dates and consistently meeting established production targets, while maintaining accuracy, analytical depth, and documentation quality.
- Craft comprehensive and well-structured narrative reports that articulate the findings of enhanced due diligence reviews, providing clarity around customer risk profiles, transaction patterns, and potential red flags.
- Monitor and escalate suspicious activity (AML/Fraud) in accordance with internal policies and regulatory requirements.
- Conduct comprehensive research utilizing computer-based tools, including reviews of media sources, public records databases, and open-source information.
- Collaborate with various lines of business (KYC onboarding teams, relationship managers, and compliance officers) to ensure accurate and complete customer information.
- Maintain detailed records of investigations and decisions to support audit and regulatory reviews.
- Stay current with evolving AML/CTF regulations, sanctions programs, and industry best practices (such as attending webinars, seminars and training sessions).
- Participate in internal projects to improve KYC/EDD processes and systems.
Perform other duties as directed.
Knowledge, Skills and Experience Requirements:
- Minimum 3 years experience in BSA, Financial Crimes, Fraud, or Compliance performing customer investigations
- Conduct comprehensive research utilizing computer-based tools, including reviews of media sources, public records databases, and open-source information
- Knowledge of anti-money laundering, Bank Secrecy Act (“BSA”), terrorism financing, Office of Foreign Assets Control (“OFAC”), transaction monitoring, know-your-customer (“KYC”), customer due diligence (“CDD”), sanctions compliance, fraud, and broader compliance fields.
- Prior experience with political customer types a plus
- CAMS certification or equivalent preferred
- Strong written/verbal communication and interpersonal skills
- Strong research and organizational skills
- Ability to work independently with limited supervision
- Ability to work with a diverse range of people
- Familiarity with Microsoft Word, Excel and experience using internet search engines
- Strong analytical, deductive reasoning and judgment skills
Our job titles may span more than one career level. The starting base salary for this role is between $70,000 – $90,000. The actual base pay is dependent upon many factors, such as: training, transferrable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future.
Amalgamated Bank is an Equal Opportunity and Affirmative Action Employer, Minorities / Females / Individuals with Disability / Veterans. AmeriCorps, Peace Corps and other national service alumni are encouraged to apply. View our Pay Transparency Statement. Submission of a resume or any information regarding your qualifications does not constitute a promise or offer of employment. At Amalgamated Bank, we consider an applicant to be someone who has interviewed at least once, in person, with the hiring manager. Amalgamated Bank does not sponsor applicants for work visas.
Effective February 18, 2025, employees in office-based positions will be working a Hybrid work schedule consisting of three days or more, on-site per week, Monday - Thursday, although the specific days may vary by site or organization, with Friday designated as a remote-working day, unless business critical tasks require an on-site presence. This Hybrid work model does not apply to, and daily in-person attendance is required for, the contact center, branch service roles, and general services where the work to be performed is located at a Company site; positions covered by a collective-bargaining agreement (unless the agreement provides for hybrid work); or any other position for which the Company has determined the job requirements cannot be reasonably met working remotely. Please note, this Hybrid work model guidance does not apply to roles that have been designated as “remote”.
Amalgamated Bank does not accept unsolicited assistance from search firms for employment opportunities. All CVs / resumes submitted by search firms to any employee at our company without a valid written search agreement in place for the position will be deemed the sole property of our company. No fee will be paid in the event a candidate is hired by our company as a result of an agency referral where no pre-existing agreement is in place. Where agency agreements are in place, introductions are position specific. Please, no phone calls or emails.
Salary : $70,000 - $90,000