IBM Risk and Compliance Analyst Interview Questions and Answers

Basics about AML and FATF, rephrasing paragraph, and English questions

Q1. Stages of AML, types of alerts in transaction monitoring, sanctions
Ans. 
The stages of AML include customer identification, transaction monitoring, and reporting. Types of alerts in transaction monitoring include high-risk transactions, unusual activity, and potential money laundering. Sanctions refer to restrictions imposed on individuals or entities by governments or international organizations.
• Stages of AML: customer identification, transaction monitoring, reporting

• Types of alerts in tra...read more
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Q1. Regulatory bodies, SEC, OCC, sanction types, OFAC, SDN
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Q1. Based on project and process
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Q2. Process related questions
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Q1. Tell me about yourself
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Q2. Tell me about your educational background
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Q3. Tell me about your family background
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Q4. What is banking process
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Q5. Do you any experience in KYC AML PROCESS
Ans. 
Yes, I have experience in KYC AML process.
• I have worked as a Risk and Compliance Analyst for 3 years, where I extensively dealt with KYC AML processes.

• I have conducted thorough customer due diligence to ensure compliance with AML regulations.

• I have reviewed and analyzed customer documentation, identifying potential risks and suspicious activities.

• I have implemented and enhanced KYC AML procedures to mitigate risks and ...read more
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Q6. Where did you see your position after 5 years
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Q7. What is your strengths and weaknesses
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Q8. Are you ok rotational shifts
Ans. 
Yes, I am okay with rotational shifts.
• I am flexible and adaptable to different work schedules.

• I understand the importance of round-the-clock risk and compliance monitoring.

• I have previous experience working in rotational shifts.

• I am willing to adjust my personal schedule to accommodate rotational shifts.
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Q9. What is salary expectations
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Q1. What is KYC AML process
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Q2. What is transaction monitoring
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Q3. What is CDD and EDD
Ans. 
CDD stands for Customer Due Diligence and EDD stands for Enhanced Due Diligence.
• CDD is a process of verifying the identity of a customer and assessing the risks associated with them.

• EDD is a more detailed and thorough process of due diligence that is conducted for high-risk customers.

• CDD is mandatory for all customers, while EDD is only required for high-risk customers.

• Examples of high-risk customers include politicall...read more
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Q4. What is the difference between CDD and EDD
Ans. 
CDD is basic due diligence while EDD is enhanced due diligence.
• CDD is a standard process of verifying the identity of a customer and assessing the risk associated with them.

• EDD is a more thorough process that involves gathering additional information about the customer to mitigate higher risks.

• CDD is typically used for low-risk customers while EDD is used for high-risk customers.

• Examples of EDD include conducting backg...read more
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Q5. What is sanctions countries
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Q6. What is sanction process
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Sanction process is a legal or administrative action taken against an individual or entity for violating laws or regulations.
• Sanctions can include fines, restrictions, or even criminal charges.

• The process typically involves an investigation, followed by a determination of guilt or innocence.

• If found guilty, the individual or entity may have the opportunity to appeal the decision.

• Examples of sanctions include the US gov...read more
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Q1. When you are able to join company
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