Yagub Aliyev
Anti-Money Laundering (AML) Specialist
Baku
Summary
AML/CFT professional with over 7 years of experience in the banking and fintech sectors. Skilled in risk assessment, suspicious transaction monitoring, CDD/EDD processes, and regulatory compliance. Active member of the AZFINA Compliance Expert Group, with strong awareness of industry trends and standards.
Overview
7
7
years of professional experience
6
6
years of post-secondary education
3
3
Languages
Work History
Head of Anti-Money Laundering Division & MLRO
GoldenPay OJSC
03.2024 - Current
- Developed all internal policies and procedures from scratch related to AML/CFT (Anti-Money Laundering and Countering the Financing of Terrorism), in full compliance with applicable legislation and the regulatory requirements of the Central Bank of Azerbaijan and the Financial Monitoring Service.
- The implementation of all policies and procedures has commenced, and numerous tasks have been completed in this regard.
- Ensured compliance with AML requirements during the customer account opening process.
- Ensured compliance with sanction lists, and appropriate actions were taken against customers matching the criteria.
- Customers have been categorized based on their risk levels.
- Conducted institutional risk assessments.
- Ensured compliance with FATCA/CRS requirements during remote account opening procedures.
- Implemented Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) measures in accordance with MUT guidelines.
- Integrated with the Financial Monitoring Service’s SHƏMS (Suspicious Transaction Monitoring System) and initiated data exchange with them.
- Conducted due diligence on all partner merchants, identified beneficial owners and authorized signatories, and reported findings to the Financial Monitoring Service.
- Responded to inquiries from the Central Bank and Financial Monitoring Service in a timely and accurate manner.
- Provided AML and compliance-related reviews for the launch of new products and services, implementing necessary revisions.
- Procured an AML tool from an external vendor; integrated data into the system, and the integration process is ongoing.
- Developed indicators for detecting suspicious activities, which are applied both automatically and manually.
- Suspicious transactions and customers identified are reported to the Financial Monitoring Service (SAR reporting).
- Issued technical specifications to the IT department for the preparation of SAR, CTR, ETR, HRG, and PEP reports.
- Identified politically exposed persons (PEPs), reported domestic PEPs to the management board, and foreign PEPs to the Financial Monitoring Service.
- Developed a training program in compliance with legal requirements, and conducted AML-related training sessions for company employees and senior management.
- Provided bi-annual reports to the management board regarding AML-related processes.
Lead. spec. of Reporting and Monitoring Division
ABB Bank
11.2018 - 03.2024
- Identified and analyzed unusual or suspicious transactions to detect potential money laundering or fraudulent activities.
- Created and implemented rule-based scenarios in the Siron AML system based on key suspicious activity indicators.
- Investigated transactions automatically flagged or suspended by the AML system to determine legitimacy and risk level.
- Prepared comprehensive daily, monthly, quarterly, and annual AML compliance reports for internal and external stakeholders.
- Responded promptly and accurately to information requests from the financial regulator in accordance with legal requirements.
- Addressed inquiries and transaction-related requests from Customer Service departments to ensure procedural compliance.
- Reviewed and verified the compliance of transactions with applicable laws, regulations, and internal company policies.
- Updated internal procedures and AML guidelines in line with legislative changes and regulatory amendments.
- Conducted monitoring and control of foreign currency conversions exceeding internal thresholds.
- Performed additional compliance-related duties as assigned within the scope of the department’s operational functions.
Education
Master of Financial Management:
Baku Engineering University
Baku, Azerbaijan 09.2016 - 07.2018
Bachelor of Finance
Azerbaijan State Economic University
Baku, Azerbaijan 09.2012 - 07.2016
Skills
AML and Counter-Terrorist Financing Knowledge – In-depth understanding of Anti-Money Laundering principles and regulations
Risk Management – Customer risk assessment and analysis of high-risk clients
Suspicious Transaction Monitoring – Detecting and reporting suspicious transactions to Financial Monitoring Authorities
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) – Verifying customer identities and performing enhanced due diligence procedures
Sanctions List Compliance – Checking and ensuring compliance with sanctions lists and taking necessary actions
FATCA and CRS Compliance – Collecting and analyzing customer data to comply with FATCA and CRS regulations
AML Program Management – Developing and implementing internal AML policies and procedures
Suspicious Activity Reporting (SAR) – Monitoring and reporting suspicious activities to the relevant authorities
System Integration – Integrating AML tools and monitoring systems (eg, SHƏMS)
Training and Guidance – Conducting AML training sessions for staff and providing ongoing compliance support
Sanctions Compliance – Ensuring compliance with sanctions and managing associated risks
Institutional Risk Assessment – Conducting risk assessments and implementing risk mitigation strategies
Transaction and Reporting Analysis – Analyzing AML-related transactions and preparing necessary reports
Regulatory and Legal Compliance – Ensuring adherence to local and international AML laws and regulatory requirements
Team Collaboration – Working with teams to implement AML measures and ensuring effective communication with clients and partners
Timeline
Head of Anti-Money Laundering Division & MLRO
GoldenPay OJSC
03.2024 - Current
Lead. spec. of Reporting and Monitoring Division
ABB Bank
11.2018 - 03.2024
Master of Financial Management:
Baku Engineering University
09.2016 - 07.2018
Bachelor of Finance
Azerbaijan State Economic University
09.2012 - 07.2016
Languages
English
Professional Working
Turkish
Professional Working
Russian
Limited Working