Responsibilities:
AML Investigations & Analysis:
- Act as a first-level reviewer, investigating potential BSA (Bank Secrecy Act) violations arising from correspondent banking activities.
- Conduct thorough analysis of AML alerts (L1, L2, and escalations), employing deep-dive techniques to identify suspicious activity patterns.
- Make initial investigation decisions and determine the specific information needed for comprehensive case management.
- Escalate high-risk cases and suspicious activity to Management for further investigation.
Correspondent Banking Monitoring:
- Assist the Transaction Surveillance Group in analyzing correspondent banking transactions and optimize processes for enhanced monitoring effectiveness.
- Provide subject matter expertise on AML surveillance (transaction monitoring) procedures to ensure compliance with regulatory requirements.
- AML Compliance & Training:
- Stay informed of evolving AML/CFT regulations, including the BSA, USA PATRIOT Act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting (SAR) guidelines.
- Analyze error root causes (RCAs) to identify training needs and develop/implement training programs for front office and operations personnel to enhance AML awareness and compliance.
Communication & Collaboration:
- Advise Management on current AML issues related to correspondent banking.
- Maintain clear and concise communication with team members and Management regarding investigations, suspicious activity, and compliance updates.
- Collaborate effectively with other AML Compliance team members to ensure a comprehensive and coordinated approach to AML/CFT risk mitigation.
Qualifications:
- Bachelor/masters degree in Finance, Business Administration, or a related field (preferred).
- Minimum of 3+ years of experience in AML investigations or a related financial crime compliance role.
- Proven track record of conducting thorough and insightful investigations into suspicious activity.
- In-depth knowledge of AML/CFT regulations, including the BSA, USA PATRIOT Act, and relevant US Treasury guidelines.
- Strong analytical and problem-solving skills with a data-driven approach.
- Excellent communication, interpersonal, and collaboration skills.
- Ability to work independently and manage multiple priorities effectively.
- Strong attention to detail and a commitment to accuracy.
- Proficiency in Microsoft Office Suite (Excel is a must).
- CAMS certification (or equivalent) is a plus.
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