Financial Intelligence Unit Analyst

Job Summary

A Financial Intelligence Unit Analyst plays a crucial role in financial institutions to ensure compliance with laws and regulations designed to prevent money laundering, terrorist financing, and other financial crimes. This role is responsible for the transaction monitoring tasks that protect the bank and the financial system from being used as a tool for money laundering, terrorist financing, and other financial crimes. The FIU Analyst helps maintain the integrity of the banking industry and ensure that it operates within the boundaries of the law and regulatory compliance.

Responsibilities

Transaction Monitoring

File Currency Transaction Reports (CTRs) for cash transactions exceeding a specific threshold, typically $10,000, and ensure the bank's compliance with reporting requirements.

File Suspicious Activity Reports (SARs) when unusual or potentially illicit activities are identified and ensure that these reports are submitted to the appropriate authorities.

Reviews Suspicious Activity Reports (SARs) and files timely.

Reviews cardholder accounts using processor systems, internal search tools, web searches, and queries to research the program attributes and transactional activity.

Sustains lines of communication to ensure that pertinent team members are getting the information they need from one another.

Create and investigate cases for potential SAR filings.

Investigate alerts from a variety of fraud report types. Compares the activity from the generated alerts to account details and transactional activity to determine if the activity is unusual and requires further review.

Detect, Analyze, and report trends, unusual activity or red flags in various reports, customer profiles or transaction activity including conducting suspicious activity investigations.

Maintain records of all investigations and reports, ensuring they are readily available for regulatory examinations.

Communicate with law enforcement, regulatory agencies, and internal management regarding potential risks, investigations, and reporting as necessary.

Risk Assessment & Regulatory Knowledge

Assists with the administration of state and federal regulator/auditor examinations and review.

Assist with completing special projects and assignments as required by department leadership.

Assess the bank's overall risk exposure to money laundering and financial crimes, and provide recommendations for risk mitigation

Assist in keeping staff updated on BSA/AML regulations, best practices, and compliance procedures.

Assist in developing, implementing, and updating policies and procedures to align with changing regulatory requirements.

Assist in the adherence to bank compliance with all reporting requirements, including filing reports with the Financial Crimes Enforcement Network (FinCEN) and other relevant agencies.

Assist in assessing the bank's overall AML risk profile, developing risk mitigation strategies, and making recommendations to enhance the bank's AML program.

Cultural Alignment

Choice is #PeopleFirst, banking second.

People don’t need just another bank. People need to be supported by a team of trusted partners who will get to know them and their business, understand their challenges, discover their dreams, and recognize the success in bringing people and banking together in our communities.

In contributing to our culture, Choice team members are guided by our core values.

Embrace change and encourage innovation.

Know when to ask for help and know when to offer help.

Better the places we live.

Work hard. Do the right thing. Have a little fun.

Our vision of Diversity at Choice is supported by our #PeopleFirst mission and our core values.

Being #PeopleFirst means that Choice is committed to focusing attention and resources towards creating an environment where everyone feels respected and valued and can do their best work. Doing the right thing means encouraging employees to share their experiences and ideas, and to bring their whole authentic selves to work. Together, we can build an inclusive culture that seeks out, supports, and celebrates diverse voices. We can use our diversity to fuel creativity and innovation and bring us closer to our customers and the communities we serve. Be welcome at Choice. We can see you here.