DELOITTE is hiring Freshers for the Jr. ASSOCAITE. The details of the job, requirements and other information given below:
DELOITTE IS HIRING : JR. ASSOCIATE
- Qualification : BBA/BBM/B. Com or equivalent Degree
- 0-1 years of experience in AML-focused activities.
Key Responsibilities
- Basic understanding of Financial Services Industry
- Ability to interpret desktop procedures, standard operating procedures and follow the process steps
- Ability to meet individual targets and quality standards
- Timely escalation of issues to leads
- Highlight any process steps which are taking more than designated time
- Document any process exceptions and escalate to leads
- Working knowledge in Microsoft Office Suite
- Location: Hyderabad, Telangana, India
Don’t miss out, CLICK HERE (to apply before the link expires)
interview questions and answers in simple English for the “AML – Financial Crime – Jr Associate
1. What is AML (Anti-Money Laundering)?
Answer:
AML stands for Anti-Money Laundering. It includes the rules and procedures that financial institutions follow to stop criminals from hiding illegal money. This is done by checking where the money is coming from and making sure it is legal. It helps to reduce crimes like fraud, corruption, and terrorism financing.
2. Why do you want to work in the Financial Crime/AML field?
Answer:
I want to work in the AML field because it allows me to be part of a meaningful job where I help protect the financial system from illegal activities. It’s a growing field with a lot of learning opportunities, and I am interested in understanding financial transactions, regulations, and working with data to find risks.
3. What do you understand by KYC, CDD, and EDD?
Answer:
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KYC (Know Your Customer): This is the process where a bank or company checks who the customer is before opening an account.
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CDD (Customer Due Diligence): This means collecting and checking customer information to assess if they are risky.
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EDD (Enhanced Due Diligence): If a customer is found to be risky, then more detailed checks are done. This is called EDD.
4. What are suspicious transactions and how do you identify them?
Answer:
Suspicious transactions are activities that don’t match the normal behavior of a customer or look unusual. For example, if someone suddenly deposits a large amount of cash with no clear reason, it could be suspicious. We can identify such transactions by comparing them with the customer’s past behavior and using monitoring tools.
5. What tools or software are used in AML work?
Answer:
Some common AML tools include Actimize, SAS, Amlock, and Fircosoft. These tools help in monitoring transactions, checking names against sanction lists, and reporting alerts. We also use Microsoft Excel and Outlook for documentation and communication.
6. What do you know about Deloitte’s AML team?
Answer:
Deloitte’s AML team works with clients all over the world to help them follow AML laws and prevent money laundering. The team includes experts from banking, law enforcement, and technology fields. They use smart solutions and tools to find risks, do investigations, and improve compliance programs.
7. How will you handle a situation where you find an unusual transaction?
Answer:
If I find an unusual transaction, I will first check the customer’s background and previous transactions. Then I’ll follow the Standard Operating Procedures (SOPs) to raise a flag or alert. I will document everything and inform my team lead or manager so further checks or reports can be done.
8. What are sanctions, and why are they important in AML?
Answer:
Sanctions are restrictions placed on people, companies, or countries by governments. These are done to stop illegal activities, like terrorism or money laundering. In AML, it’s important to screen customers and transactions to make sure we are not dealing with any sanctioned parties.
9. How would you make sure your work is accurate and on time?
Answer:
I will follow the given instructions carefully, double-check my work, and use checklists to avoid mistakes. I will also manage my time properly by setting priorities and keeping track of deadlines. If I face any problem, I will inform my manager early.
10. What are your strengths that will help you in this role?
Answer:
I am detail-oriented, which helps me notice small mistakes or unusual activity. I am also good with Microsoft Office tools like Excel and Outlook, and I can follow rules and instructions properly. I learn quickly and I’m always ready to ask questions if I don’t understand something.
11. What do you know about the job role of Jr Associate – Financial Crime at Deloitte?
Answer:
As a Jr Associate, I will be supporting the Deloitte US team with AML-related tasks. This includes checking customer transactions, identifying risks, and reporting them if needed. I will work on documentation, follow procedures, use tools like MS Office, and help improve the overall safety of financial systems.
12. Do you have any experience or knowledge related to financial services or AML?
Answer:
I have learned about AML during my studies and through online courses. I also know the basics of KYC, suspicious activity reporting, and using Excel for analyzing data. I may not have work experience, but I am eager to learn and grow in this field.
13. Why should Deloitte hire you for this role?
Answer:
Deloitte should hire me because I am hardworking, quick to learn, and truly interested in the field of Financial Crime. I can follow instructions well, work with a team, and meet deadlines. I want to grow in this field and help Deloitte’s clients by doing quality work with honesty.
14. Are you comfortable working with international teams or clients?
Answer:
Yes, I am comfortable. I have good communication skills and I understand the importance of professionalism while working with global teams. I am willing to adjust my work style as needed and always open to learning more.
15. Where do you see yourself in the next 3 years?
Answer:
In the next 3 years, I see myself growing in the AML and Risk Management field, gaining more experience, and handling more responsibilities. I want to become a subject matter expert and support my team in delivering quality work.
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