AML Specialist

Summary

The AML Specialist I is responsible for conducting preliminary investigations of system generated alerts and unusual activity investigations leading to potential Suspicious Activity Reporting (SAR) filing. Requires a high level of attention to detail and accountability as this role will also be responsible for the filing of all SARs for the Bank and the documentation of said filings as well as being tasked with the review and due diligence associated with the Bank’s Money Service Business (MSB) Program.

Research transactional anomalies and analyze information produced to detect any patterns of unusual internal or external conduct, identify risk policy breakdown, and recognize fraudulent activities.

• Responsible for performing detailed examination to detect transactional and relationship patterns, trends, anomalies, and schemes across multiple business lines and products that the Bank offers.
• Acts as an escalation point for more complex cases and investigations and presents recommendations and possible solutions for resolving more complex situations while exercising independent judgement and developing full knowledge in the function of identifying and resolving potentially suspicious or hazardous situations. These methods include, but are not limited to, AML software generated alerts and cases, Currency Transaction Reporting (CTR), follow up suspicious activity investigations, and reviewing of additional reports that are custom built for detecting potential money laundering.
  
  Communicates results of analysis and/or research to appropriate departmental leadership including conclusions and recommendations for next steps.

• Tasked with ensuring that the Bank’s Money Service Business (MSB) program remains in compliance and all relative reviews, ranging from initial reviews conducted at on boarding to quarterly reviews of activity, and annual Enhanced Due Diligence (EDD) reviews are completed accurately and in a timely manner.
• Acts as a liaison with front line staff to coordinate obtaining required annual documentation from higher risked clients, performs the due diligence review of collected documentation and ensures that site visits are completed annually and correctly by Retail staff members.
• Maintains current and accurate MSB High Risk listing and provides listing of clients to Treasury Operations Department to ensure that proper charges are being applied to clients. Compiles annual report of fees generated associated with this category of customer.

• Performs analysis on the category of customers that have been detected to have association with cryptocurrency and gambling to ensure compliance with state and federal regulations.
• Responsible for identifying said category of customers and for obtaining in depth understanding of the workings of the client to ensure proper classification along with completing annual enhanced due diligence (EDD) associated with customer.

• Completes risk assessment and analysis of customer applying for Remote Deposit Capture status (RDC), adhering to Bank procedures related to this product.
• Acts as a liaison with the various departments that are involved in this process and makes suggestions in order to streamline the process so that growth and expansion is possible associated with this product and business line.
• Maintains monthly review and analysis of this category of customer to ensure compliance to the Bank requirements for the use of RDC on a monthly and annual basis. Utilizes custom built reports to aide in research.

• Performs Enhanced Due Diligence (EDD) reviews on the Bank’s High Risk customer listing, as assigned by the BSA Assistant Manager or BSA Manager.
• Ensures each customer being reviewed is in compliance as it relates to Customer Information Profiles (CIP), KYC, and site visits along with the identifying reasons for the higher risked categorization of the client.

• Keeps abreast of any new or amended BSA, AML compliance matters and disseminates information to appropriate Bank personnel as…