BSA/AML Investigator, Senior

WHO ARE WE: Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

CORE VALUES: Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus

ABOUT THE ROLE:

The Senior BSA/AML Investigator is a valued part of a cohesive team focused on detecting and preventing the bank from illicit activity, including money laundering and terrorist financing. The Senior BSA/AML Investigator will identify unusual transaction behavior patterns on accounts including investigating cases by obtaining and reviewing evidence and background information on suspects and determining facts from the information. Must have the ability to make independent decisions and handle more complex cases escalated by staff as well as the ability to work with processes based on varying and unique results and circumstances, not on defined instructions. This position requires attention to detail, as well as excellent analytical skills to identify suspicious activity with the ability to exercise sound judgment and to observe the highest degree of confidentiality in the handling of information. Other responsibilities include reporting, recordkeeping and various processes related to the Bank Secrecy Act. This position operates under the guidance of the BSA Officer.

WHAT YOU'LL BE DOING:

• Detect and Investigate Suspicious Activity: Identify and investigate suspicious transactions from various BSA alerts, reports, and systems. Maintain detailed documentation within Verafin, communicate findings to management, law enforcement, and government agencies, and escalate complex cases to the BSA Officer.
• Collaboration and Reporting: Work with internal departments, other financial institutions, law enforcement, and customers to investigate suspicious activities, and identify and report activities requiring a Suspicious Activity Report (SAR).
• Risk Mitigation and Communication: Develop strong working relationships with internal and external clients and make recommendations to improve detection and deterrence of suspicious activities. Work with the BSA Officer on SAR filings and communicate effectively through various channels.
• Expertise and Training: Serve as a subject matter expert on systems, processes, and regulations. Identify training needs, develop training content, and provide training to the team.
• Operational Support and Problem Solving: Resolve problems independently, troubleshoot complex issues, make operational decisions in the absence of the BSA Officer.
• Process Management and Efficiency: Ensure processes are covered and service levels are being met, propose process efficiencies, and provide backup coverage on BSA and Fraud processes. Maintain written procedures and support team meetings.
• Verafin and Quality Control: Recognize and analyze Verafin updates, propose process changes, troubleshoot data issues, and assist with model tuning/validation. Conduct quality reviews of team members' work and review cases for SAR creation.
• Regulatory and Due Diligence Tasks: Manage 314(b) collaboration requests, assist with Money Laundering Reports (MLR), perform enhanced due diligence on high-risk customers/products, and assign AML alerts. Provide audit support and stay informed on BSA/AML laws and regulations.
• Liaison and Support: Act as a liaison with law enforcement agencies on illegal or fraudulent activities, assist the BSA Officer as needed, and support team members by providing guidance.
• Continuous Learning and Compliance: Attend mandatory and field-specific training, maintain up-to-date system knowledge, pursue continuing education and self-development, participate in user groups and networking, and stay informed on compliance, legal, and policy regulations.

WHAT YOU SHOULD HAVE:

• Bachelor's degree or equivalent combination of education and/or 5 years related financial industry experience.
• Minimum five years of experience in BSA/AML and/or Fraud analytics required.
• Previous banking or financial services experience required.
• Experience using a BSA/AML and Fraud Detection System preferred, such as Verafin or an equivalent system.
• Advanced investigative skills and independent decision-making skills.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

WORK ENVIRONMENT: Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.

BASE PAY RANGE:

$65,000 - $80,000 annually

The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.

Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.