Citigroup has recently advertised multiple job roles for potential employees requiring a Bitcoin Professional Certification.
The American multinational investment bank is looking to hire a VP and a senior VP with a background in Bitcoin, specifically to explore the risks associated with money laundering and cryptocurrencies. They noted that a specialist would more aware of suspicious transactions denominated in a cryptocurrency, and how to anticipate them.
The advertisements list that a Bitcoin Professional Certification is preferable.
The certification brings a level of legitimacy to cryptocurrency experts. While not necessarily validating one as a Bitcoin expert, it requires knowledge to attain it that is critical to positions such as that advertised by Citigroup.
The senior VP role at Citigroup works collaboratively with the global head of AML monitoring risk management in an analytical role, looking to identify legitimate transactions and those that look suspicious. To prevent additional money laundering occurring, this role requires a very specific area of Bitcoin expertise.
While Citigroup does not currently seem interested in incorporating cryptocurrency into their banking services, the advertisement of these positions shows at least an interest in the area. Additionally, it proves that it is increasingly focused on reducing money laundering practices.
Despite the attention of Citigroup to Bitcoin-related financial crimes, nine in ten money laundering transactions actually occur through banks and other official services, not through cryptocurrency.
If the roles at Citigroup are successfully filled by qualified candidates, it has the potential to increase the legitimacy given to the cryptocurrency industry as a whole, and potentially the Bitcoin Professional Certificate.
Requiring the Bitcoin certification is a relatively new demand in the industry, as employers from the traditional financial sector joining the field consider it more an obligation to prove expertise. It is worth keeping an eye on the certification to consider if it is a success in enabling more professionals to gain jobs in the industry.