Anti-Money Laundering (AML) and Financial Crimes Management (FCM) Quality Control Analyst

Job Summary

Under limited supervision, the Anti-Money Laundering (AML) and Financial Crimes Management (FCM) Quality Control Analyst is responsible for reviewing the quality and accuracy of Client Intelligence Unit (CIU), Financial Intelligence Unit (FIU), and Fraud Investigations and Reporting (FIR) work products. This role involves critical attention to detail and will also be accountable for generating periodic reports (metrics) that will be utilized by the AML/FCM Senior Management team in order to analyze quality trends and patterns.

The role may handle projects of moderate scope and complexity.

• Conduct reviews of the CIU, FIU, and FIR function products to include but not limited to narratives, dispositions, and supporting documentation related to decisions to ensure all reviewed cases meet established quality standards.
• Verify the CIU, FIU, and FIR analysts performed the appropriate levels of review for each case, to include client/subject and analysis.
• Confirm the completeness and accuracy of the dispositions completed by the CIU, FIU, and FIR analysts.
• Ensure that all cases are closed/filed in accordance with internal Service Level Agreements (SLA) and the securities and/or banking industry’s regulatory requirements.
• Provide written and verbal feedback to the stakeholders.
• Prepare reports for the AML/FCM Quality Control Manager and Senior Management, as requested.
• Assist with special projects.
• Function as a subject matter expert on AML/Fraud-related issues and provide mentoring as needed.
• Escalate and articulate relevant risks to the appropriate stakeholders.
• Identify opportunities for increased effectiveness, efficiency, and risk mitigation.

• Advanced knowledge of concepts, practices, and procedures of securities industry and/or banking compliance reviews.
• Advanced knowledge of rules and regulations of the USA PATRIOT Act, the Bank Secrecy Act, and other AML-related regulations, rules, or guidance.
• Advanced knowledge of fundamental investment concepts, practices, and procedures used in the securities industry.
• Advanced knowledge of principles of banking and finance and securities industry operations.
• Skill in administering AML policies and procedures.
• Skill in analyzing activity documentation to identify irregular transactions.
• Skill in planning and scheduling work to comply with regulatory organizational and regulatory requirements.
• Skill in identifying and applying appropriate compliance monitoring procedures and tests.
  
  Skill in preparing oral and/or written reports.
• Skill in making rule-based and analytical decisions.
• Skill in communicating clearly and effectively, both orally and in writing.
• Skill in providing feedback to the relevant stakeholders.
• Ability to identify problems, collect data, establish facts, and draw valid conclusions.
• Ability to research and analyze large amounts of data, interpret higher risk attributes (transactional, geographical, product/service, customer type, etc.), and validate case dispositions appropriately.
• Ability to leverage AI tools and technologies to enhance productivity.
• Ability to rely on knowledge and judgment to plan and attain assigned tasks and goals.
• Ability to maintain confidentiality.
• Ability to stay current in AML/FCM rules and regulations and compliance examination techniques and best practices.
• Bachelor’s Degree (B.A.) from a four-year college or university in a related field and 3 to 5 years of experience in compliance in the banking or securities industry with a focus on AML/Risk Management activities, or any equivalent combination of education, training, and/or experience approved by Human Resources.
• ACAMS, CFE, or equivalent certification, preferred.

This is the pay range that Magnit reasonably expects to pay for this position: $31.03/hour - $41.38/hour

• Benefits:
  Medical, Dental, Vision, 401K