AML Investigations Analyst

Summary

The AML Analyst 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 alerts and referrals are researched and processed for potential regulatory reporting as well as 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

• Responsible for analyzing transactions and reviewing system generated alerts or internal alert requests for potential money laundering, suspicious activity or other BSA/AML oversight alerts.
• Refers potentially suspicious activity to BSA/AML Investigators for further review through the unusual activity referral (UAR) process.
• Files Currency Transaction Reports (CTRs) and reviews Monetary Instrument Logs (MILs).
• Reports members warranting potential CTR exemption to the BSA/AML Investigations Manager.
• Review annually CTR exempt members for continued CTR exemption.
• Dispositions OFAC and 314a suspects from batch reporting, as well as dispositions on frontline escalations for OFAC suspects.
• Responsible for performing CDD/EDD reviews and High-Risk Reviews on a periodic basis.
• Act as a back-up to AML Analysts.
• Responsible for reviewing and completing ad hoc reporting for potential money laundering and other suspicious activity to ensure proper BSA/AML Oversight.
• 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.
• Assist in training opportunities with credit union employees on BSA/AML/fraud issues.

Requirements

Education and Experience Requirements:

• Bachelor’s degree in criminal justice or related field, or 3-5 years of banking experience.
• Knowledge of Bank Secrecy Act compliance and various money laundering typologies

Required Knowledge, Skills and Abilities:

• Strong analytical skills and attention to details
• 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.
• Excellent time management skills and the ability to work both independently and as a member of a team.
• Comfortable presenting to both small and large groups of credit union employees
• Strong written and oral communication skills.
• Strong spreadsheet and word processing skills.