AML​/CFT Specialist I

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Full Time Other OP Support Albuquerque, NM, US

4 days ago Requisition

Reports To – AML/CFT Director

FLSA Status – Non-Exempt

PURPOSE OF POSITION

The AML/CFT Specialist will support the daily management of all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Office of Foreign Assets Control (OFAC) program management.

OVERALL DUTIES AND RESPONSIBILITIES

• Make procedural recommendations for Retail Banking and Deposit Operations. Assists the AML/CFT Director in coordinating procedural changes with branch offices and other departments within the bank.
• Assist bank employees by answering questions, resolving problems/issues, and assisting with complex matters related to AML/CFT.
• Maintain current knowledge of AML/CFT regulations, the Bank Secrecy Act, the USA Patriot Act, OFAC and other related regulations.
• Review system generated alerts for suspicious or unusual activity and escalate findings as needed.
• Conduct preliminary investigations related to potential SAR filings and make recommendations to the AML/CFT SAR Committee.
• Support Enhanced Due Diligence (EDD) reviews for higher-risk customers under guidance from AML/CFT Director.
• Attends training regularly to broaden knowledge about AML/CFT and related regulations.
• Other AML/CFT duties include:
• Currency Transaction Reporting
• Monetary Instrument Reporting
• Review CTR exemptions and maintain proper records to support exempt status.
• Process Subpoenas & Summons
• Review new consumer and business accounts for CIP compliance and risk.
• Approve OFAC matches as needed.

AML/CFT SPECIALIST LEVEL I, II, and III

LEVEL I DUTIES AND RESPONSIBILITIES IN ADDITION TO THE ABOVE

• Review new accounts for CIP and account documentation – Commercial and Consumer.
• Assist front line branch personnel by providing CIP documentation guidance and assistance.
• Assist in preparing and filing Currency Transaction Reports (CTRs).
• Review CTR exemptions and maintain proper records to support exempt status.

LEVEL I QUALIFICATIONS

• Broad banking experience; minimum of 1 year.
• Working knowledge of banking laws and regulations pertaining to BSA/AML/CFT.
• Ability to attain a professional BSA/AML certification, if not already achieved.
• Ability to organize tasks and work with minimal supervision.
• Excellent oral and written communication skills.

LEVEL II DUTIES AND RESPONSIBILITIES IN ADDITION TO THE ABOVE

• Assist in resolving potential OFAC matches and know the correct actions for a genuine match to a name on the lists.
• Provide training to employees in other departments to achieve understanding of AML/CFT requirements and bank policy and procedures.
• Provide guidance and support for junior departmental employees.
• Supports the AML/CFT department with the following tasks:
• Review CTR exemptions and maintain proper records to support exempt status.
• Monitor Yellow Hammer BSA, including monthly worklists and semi-annual risk rating.
• Monitor suspicious activity through various reports and software applications.
• Maintain SAR logs.

LEVEL II QUALIFICATIONS

• Extensive banking experience; minimum of 4 years.
• Thorough knowledge of banking laws and regulations pertaining to AML/CFT.
  • Ability to read, comprehend, and analyze regulatory guidance.
  • Attainment of professional AML/CFT certification, if not already achieved.
  • Ability to organize tasks and work with minimal supervision.
  • Excellent oral and written communication skills.

LEVEL III DUTIES AND RESPONSIBILITIES IN ADDITION TO THE ABOVE

• Act as back-up for the AML/CFT Director.
• Oversee the AML/CFT Department in the AML/CFT Director’s absence.
• Communicate with the branch managers regarding customer activities.
• Assist the AML/CFT Director in completing the following AML/CFT related tasks:
• Monitor Yellowhammer BSA including monthly worklists, semi-annual risk rating, etc.
• Monitor suspicious activity through various reports and software applications.
• Complete 314a reports and recordkeeping.
• Resolve potential OFAC matches and know the correct actions for a genuine match to a name on…