AML Alert Analyst

An AML Alert Analyst is responsible for maintaining certain aspects of the Bank's ML/CFT program and assists in meeting and maintaining BSA/AML compliance requirements of the Bank. Complies with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), as well as adhering to the Bank’s policies and procedures to mitigate risk exposure to the Bank. Assigned to a team that is responsible for working with the Bank’s transaction monitoring system to help prevent, detect, and deter ML/TF and other illicit financial activity using a risk-based approach. This includes performing alert reviews to identify normal and abnormal transactional activity that may range from routine to highly complex utilizing customer KYC, external research, and detailed account analysis. Alert adjudications may result in escalation for additional review. May assist with mentoring and training team members. SAM The SAM team works with the Bank’s transaction monitoring system to help prevent, detect and deter ML/TF and other illicit financial activity using a risk-based approach. They also identify normal and abnormal transactional activity to help to ensure the health of the FCU’s transaction monitoring responsibility, and analyze transaction surveillance alerts for potential escalation. Investigations The BSA/AML Investigations team scrutinizes alerts which have been elevated from the transaction monitoring system and other channels, identify and report suspicious behavior and transactional activity, are responsible for maintaining and ensuring organizational compliance with BSA/AML regulations, and investigate escalated incidents involving ML/TF and other illicit financial activity to help minimize organizational exposure to BSA/AML risk. CDD/EDD The CDD/EDD team manages and mitigates customer related risks. The objective of performing CDD/EDD reviews is to enable the Bank to better know its customers and predict, with relative certainty, the types of activity in which a customer is likely to engage, which further assists the Bank in determining when transactions are potentially suspicious. CTR As part of its fight against money laundering, the BSA requires financial institutions to report currency transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day. The FCU is responsible for filing the Bank’s CTRs. The CTR team reviews, verifies, and electronically files CTRs. This team is also responsible for monitoring banking branch staff for proper CTR compliance and providing CTR exemptions when applicable. Sanctions Federal law and regulations require screening of new customers, existing customers, and transactional counterparties through Bank interdiction software. This team is responsible for daily screening of customers and transactions. Additionally, they assist in ensuring that true Specially Designated Nationals (SDNs) assets are blocked (seized and frozen) when necessary. QA The QA team conducts reviews of the work completed by the various teams in the FCU to ensure best practices related to SAM, CDD/EDD, Investigations, CTRs, Sanctions, Fraud, and other business processes. The team is also responsible for assessing the impact of implementing new practices, standards, FinCEN and OCC guidance as it relates to BSA/AML Compliance practices across the organization.

• Perform analysis and complete dispositions on alerts for potentially suspicious activity as it may relate to money laundering, terrorist financing, and other financial crimes. Ensures that alerts are conducted on a timely basis.
• Engage in additional assignments as directed by management. Attend and participate in team/department staff meetings and continuing education training. Acquire and maintain working knowledge of all compliance, regulatory, and business unit policy, standard and procedure requirements associated with the job. Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
• Communicates with branch personnel and management to verify accuracy of customer information & determine if activity in question is expected for the particular type of customer, and are responsible to ensure all discrepancies are documented and resolved.
• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.  Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Required Qualifications:

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent 
• Minimum experience required: 1+ Years years of experience in banking and/or financial investigations.

Preferred Qualifications:

• Education level preferred: Undergraduate Degree (4 years or equivalent) in Finance, accounting, business management, or criminal justice.
• ACAMS Certification preferred.

Job Competencies:

• Knowledge and understanding of general BSA/AML, OFAC, and USA PATRIOT Act and risk management principles.
• Knowledge of core banking systems.
• Knowledge of BSA monitoring systems.
• Advanced computer literacy skills with proficiency in Microsoft Office as well as Internet research techniques.
• Excellent verbal and written communication skills.
• Highly developed analytical and problem-solving skills.
• Good organizational skills.
• High degree of accuracy and attention to detail.
• Ability to work and contribute in a team-oriented and collaborative environment to improve the analytical and reporting processes.
• Ability to meet deadlines and manage multiple tasks in a fast-paced environment.
• Ability to mentor and assist department staff..
• Physical demands (ADA): No unusual physical exertion is involved.