AML Investigations Analyst

Summary

The Investigations Analyst – AML functions as a subject matter expert in Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) program and oversees day-to-day triage of the BSA/AML compliance program.  Ensures all AML triggered alerts and referrals are researched and processed for potential regulatory reporting as well compliance with other BSA/AML requirements, including:  Customer Due Diligence (CDD) Questionnaire management, Customer Identification Program (CIP), Office of Foreign Assets Control (OFAC) and the USA Patriot Act. 

Duties & Responsibilities

• Provide oversight in the Customer Due Diligence process by managing CCD intake, review and follow up of questionnaire generated from both Retail and Commercial new member applications.
• Utilize the credit union’s internal monitoring systems to investigate possible money laundering or fraud. Fully document investigations and file applicable Suspicious Activity Reports (SARs) as required.
• Ensure the timely filing of Currency Transaction Reports (CTRs) via the credit union’s BSA/AML software.
• Review and respond in a timely manner to red flag and OFAC alerts, as well as 314(a) information requests, either during the account opening process, or periodic scans of the credit union’s member base.
• Act as the credit union’s primary contact for 314(b) information sharing requests. Ensure registration is completed annually with FinCEN.
• Identify and recommend improvements to the credit union’s BSA/AML program.
• Assists in the development of new and/or updated policies and procedures related to BSA, AML, OFAC and the USA Patriot Act. Partner with business units on the development of appropriate procedures.
• Maintain effective relationships with local, state and federal authorities and follow-up on criminal investigations.
• Assist in training opportunities with credit union employees on fraud issues and mitigation efforts.
• Provide support to other departments in identifying AML/fraud prevention measures.

Requirements

Education and Experience Requirements:

• A minimum of two years of experience as a Financial Crimes Analyst, BSA/AML Analyst or BSA/AML Investigator or
• Specialized knowledge in retail banking relating to business relationships as well as CCD questionnaire preparation
• A combination of education and experience
• Previous experience writing and/or reviewing regulatory filings
• CAMS Certification preferred or must be obtained within 2-years of employment

Required Knowledge, Skills and Abilities:

• Thorough knowledge and understanding of Bank Secrecy Act and USA Patriot Act regulations.
• Thorough knowledge and understanding of OFAC sanctions monitoring requirement.
• Knowledge of BSA/AML and Identity Theft Prevention procedures.
• Ability to build strong relationships throughout the credit union, business membership, law enforcement, and other outside agencies.
• Ability to maintain confidential information.
• Ability to self-initiate and work independently with limited supervision.
• Strong written and oral communication skills.
• Strong spreadsheet and word processing skills.