The Senior AML Investigations Officer is responsible for conducting analysis of complex financial transactions, identifying unusual patterns of activity, and preparing Suspicious Activity Reports (SARs) as necessary while maintaining appropriate records and reports in accordance with the Bank’s anti-money laundering (AML) policies / procedures and regulatory requirements.
Primary Responsibilities (100%):
- Document and report the investigation findings and prepare case files for review (e.g. media search results, copies of statements/checks, results from internal system searches etc.)
- Manage a caseload of investigations
- Communicate effectively with internal and external partners
- Collect and examine financial statements and documents to assist in identifying unusual transaction patterns.
- Conduct research over available Bank systems, the Internet and databases such as Lexis Nexis and Factiva .
- Write and file SARs and recommend relationship retention or termination and track account closures as required.
- Interact with Senior Management of the Compliance and business sectors concerning AML issues.
- Document all research and analysis conducted in the Case Management System.
- Follow-up with internal partners as needed to identify additional information in support of the case.
- Triage cases and identify items appropriate for Senior Management escalation.
- Understand functionality of the AML monitoring system and the detection scenarios employed and offer feedback on the effectiveness of those rules and/or thresholds
Skills & Experience:
- 6+years experience in reviewing customer transactions and information for potentially suspicious activity and performing AML or financial investigations.
- 4+ years experience in writing and preparing of SARs in accordance with applicable regulatory requirements
- Work experience in a financial institution with job specific work experience in AML
- Knowledge of the laws applicable to money laundering, including the Bank Secrecy Act, the USA PATRIOT Act, OFAC requirements, and Suspicious Activity Reporting is required.
- General understanding of both Wealth Management and Commercial Banking business lines required with knowledge of foreign markets preferred.
- Established business knowledge and comprehension of financial products including funds transfer methods (SWIFT, Fedwire, Chips, and ACH) as well as cash transactions, check clearing and processing, collections, letters of credit, and foreign exchange.
- Knowledge of money laundering typologies required, with additional experience with cross border tax compliance a plus.
- Proficiency in a foreign language is a plus.