AML​/CFT Specialist

Job Summary

The AML/CFT Specialist is responsible for researching and analyzing account transactions through the use of internal reports and system escalated alerts from various business lines to detect transactions that involve potential structuring, money laundering, fraud, drug trafficking, terrorism, and/or operational risk to the Bank. In addition, the AML/CFT Specialist performs other operational duties, as it relates to the Bank Secrecy Act, USA PATRIOT Act, and Office of Foreign Assets Control regulations, including, but not limited to, the Customer Identification Program (CIP), Customer Due Diligence (CDD), the Monetary Instrument Log (MIL), Currency Transaction Reports (CTRs), and ongoing annual due diligence reviews and/or requests.

The AML/CFT Specialist is responsible for researching and analyzing account transactions through the use of internal reports and system escalated alerts from various business lines to detect transactions that involve potential structuring, money laundering, fraud, drug trafficking, terrorism, and/or operational risk to the Bank. In addition, the AML/CFT Specialist performs other operational duties, as it relates to the Bank Secrecy Act, USA PATRIOT Act, and Office of Foreign Assets Control regulations, including, but not limited to, the Customer Identification Program (CIP), Customer Due Diligence (CDD), the Monetary Instrument Log (MIL), Currency Transaction Reports (CTRs), and ongoing annual due diligence reviews and/or requests.

• Conduct CIP and CDD reviews, including compiling data and account documentation and risk rating applicable to customers. Monitors for missing, inadequate, or incorrect CIP/CDD used for new accounts and escalating promptly to Senior Management of any outstanding requests for follow-up and resolutions. Monitors new accounts for potentially missed higher risk customer (HRC) protocols (MSBs, POATMs, CRBs, etc.).
• Process daily alerts generated from the Bank’s AML/CFT software, including the identification of unusual/suspicious activity through reviewing/analyzing account activity; ensures a basic understanding of the relationship and characteristics of the customer to determine whether escalation for further investigation is required. Prepare descriptive alert narratives that describe the "who, what, where when, why and how", including determination if the activity warrants further review, if necessary.
• Process a variety of Watch List alerts, including FinCEN 314a, OFAC, etc. and within the regulatory timeframe. Use basic skills to determine whether a positive match or not. Monitoring internal reports for potential matches. Escalate suspect matches promptly to the appropriate AML/CFT employee for prompt action, if necessary.
• Maintain the MIL and analyze reportable transactions for potential unusual/suspicious activity.
• Assist the AML/CFT Team with CTRs and the CTR Exemption process and/or with coordination or initial review of case investigations, which includes, but is not limited to, document pulling, csv formatting, researching internet sources or other investigative software reporting, and analysis and decisioning at a high level. May also work general EDD reviews, as needed.
• Maintains procedural documentation of relevant tasks/responsibilities.
• Assists in preparing various reporting.
• Establishes relationships with other key Bank team members.
• Assist with 3rd party audits and reviews as needed.
• Acts as an advocate for the Bank in all interactions both internally and externally.
• Attend regular training/seminars both inside and outside the bank, as needed.
• Works harmoniously and collaboratively with team members to accomplish bank objectives.

• Assist with other duties as assigned.
• Work hours are typically Monday through Friday, however, employees are expected to work additional hours, as needed, to meet the regulatory obligations expected within the department which may include earlier or later hours and/or some weekend time frames, as determined by AML/CFT Management.
• Some light traveling may be expected, from time to time, to other banking center locations, training purposes, and/or customer onsite visitations, etc.

Education/

Certifications:

High school diploma or equivalent. Advanced education and/or CAMS certification preferred.

Minimum 1 year retail banking, which includes processing customer transactions, new account opening, and/or bank retail operations. 1-2 years’ experience in AML/CFT or Fraud preferred. Working knowledge of federal banking regulations desired. Previous experience with FIS operating systems or related bank platform software preferred.

Intermediate level in Microsoft Office products, including Word, Excel, and Outlook. Excellent critical thinking, problem solving, and judgement skills, with the ability to make sound and reasonable decisions based on analytical data, including the ability to detect unusual or suspicious activity…