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Feb 2025

How to answer this Technical interview question about Risk Mitigation for Mid-Level KYC Analyst?

How do you approach identifying and mitigating risks in a customer’s profile during the onboarding process?

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KYC Analyst

Technical

Asked at

JPMorgan Chase

Difficulty :

Medium

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Explanation

This question assesses your ability to analyze customer data to identify potential risks and take appropriate steps for mitigation. Recruiters are looking for candidates who can use investigative techniques, adhere to compliance standards, and ensure a smooth onboarding process without compromising on due diligence. A strong answer will include specific risk indicators and examples of mitigation strategies. Avoid failing to address regulatory requirements and company policies.

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Answer Example

I approach risk identification by thoroughly analyzing customer data and screening against PEP (Politically Exposed Persons) and sanctions lists. For example, during onboarding, I flagged a high-risk customer due to discrepancies in their source of funds and escalated the case to the compliance team for enhanced due diligence. By implementing additional checks, such as verifying documentation authenticity, I ensured compliance with AML (Anti-Money Laundering) regulations and mitigated potential risks. This approach protects the organization while maintaining regulatory compliance.

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