AML/CFT Officer

The AML/CFT Officer is responsible for ensuring the organization adheres to regulatory requirements concerning anti-money laundering (AML) and countering the financing of terrorism (CFT). This role involves monitoring, investigating, and reporting suspicious financial activities to help prevent money laundering and terrorism financing. The AML/CFT Officer is expected to provide expert level solutions to mitigate risk to the Bank.

Hours:

40 hours/week

Monday - Friday 8am-5pm

• Hours may change based on business needs

Duties and Responsibilities:

Compliance and Monitoring:

• Oversee day-to-day management of all aspects of the bank’s AML/CFT program, ensuring compliance with regulatory requirements including CIP, OFAC, 314(a) lists, and Customer Due Diligence (CDD) and Account Due Diligence (ADD). Monitor transactions for suspicious activities and report suspicious transactions as required by law.
• Write, review and update the Bank’s AML/CFT policies, procedures, and risk assessments.
• Serve as administrator of bank’s AML software to ensure operation in accordance with federal regulations and in accordance with the bank’s written AML/CFT program. This includes establishing appropriate rules, managing Yellow Hammer caseload, rule testing, troubleshooting issues.
• Oversee monitoring of customer due diligence (CDD) and enhanced due diligence (EDD) on high-risk customers.
• Oversee the KYC process, ensuring proper documentation is obtained for all new and existing clients.
• Arrange for independent audits of the bank’s AML/CFT program and/or systems. This includes preparing Requests for Proposals as needed, selecting auditors in accordance with regulatory guidelines, etc.

Suspicious Activity Reporting:

• Investigate and report suspicious activities to the relevant authorities.
• Manage the bank’s Suspicious Activity Reports (SARs) to ensure their timely and accurate submission.
• Collaborate with other departments and Fraud teams on Unusual Incident Reports (UIRs), gather required information, and monitor customer activity to ensure that cases are appropriately handled, and SARs are filed as required.
• Serve on the Bank’s SAR Committee.

Training and Awareness:

• Develop and deliver AML/CFT training programs for employees across the organization.
• Promote awareness of AML/CFT policies and procedures and ensure that all staff adhere to them.

Policy and Procedure Development:

• Assist in the development, implementation, and continuous improvement of AML and CFT policies and procedures.
• Stay updated on regulatory changes and industry best practices to ensure that the company’s programs are aligned with current standards.

Reporting and Documentation:

• Prepare and maintain accurate records of AML/CFT activities, audits, and investigations.
• Report on the effectiveness of AML/CFT programs to senior management and the Board of Directors.

Collaboration with External Bodies:

• Liaise with regulatory bodies, law enforcement, and other external agencies, as necessary.
• Lead bank through AML/CFT exams.

Leadership

• Supervise, mentor, and motivate the members of the AML/CFT team.
• Conduct regular staff meetings and performance evaluations.
• Approve staff time off according to bank policies.
• Provide coaching, mentoring, training, and education to staff.
• Manage performance and employee relations issues with confidentiality, timeliness, professionalism, and tact.
• Attend interviews and recommend hiring/staffing decisions to HR.
• Share relevant and important information with staff through regular meetings to address questions and concerns.
• Meet one-on-one with staff members at least bi-monthly to review performance and progress on goals.
• Attend relevant meetings and communicate information to staff.
• Act as a resource to team members in all regulatory compliance areas to include policy reviews, advertising approval, new product implementation, etc.
• Foster partnerships with business line managers to align risk management with business goals, including new product/service development, strategic planning, and responding to new regulations.
• Any other duties as assigned.

Requirements:

• Bachelor’s degree or equivalent from a four-year college in a related field; or minimum of five years’ experience in the compliance function of a financial institution; or equivalent combination of both.
• Continuing professional development and training in banking, auditing skills, and loan compliance regulations.
• Must have excellent written and oral communication skills.
• Must have advanced analytical skills.
• Broad knowledge of Bank operations and procedures.
• Must comply with applicable laws and regulations, including but not limited to, the AML/CFT and the requirements of the Office of Foreign Assets Control. Additionally, all employees must follow policies and procedures to minimize risk by exercising good judgment, raising questions to management, and adhering to policy guidelines.

Critical Competencies:

• Communication
• Teamwork
• Decision Making
• Problem solving
• Ability to learn, teach, coach, and communicate risk

****Equal Opportunity Employer of Minorities, Females, Protected Veterans, and Individuals with Disabilities****

Our company is an equal opportunity/affirmative action employer. Applicants can learn more about their rights by viewing the federal EEO poster at https://www.eeoc.gov/sites/default/files/2022-10/EEOC_KnowYourRights_screen_reader_10_20.pdf.