Aml Analyst Iii

1.06.2023

JOB DESCRIPTION

Job Title

AML ANALYST III

Department

COMPLIANCE

Reports to (Title)

VP & BSA/AML OFFICER

Job Code

E-12

BASIC FUNCTION

The AML Analyst III is primarily responsible for performing all functions associated with high-risk customer management including reviews related to monitoring high-risk customers. The AML High Risk Analyst is also a back-up and support function for the AML Investigators in assisting with resolution of system alerts and investigation caseloads to ensure that work remains at acceptable levels. The AML High Risk Analyst is responsible for evaluating patterns in customers’ activity and researching against internal and external information sources for identifying potentially suspicious activity and escalating issues and findings, as appropriate, for advanced investigation and analysis, when potentially suspicious or unusual activity is identified during a high-risk review. The analyst is responsible for maintaining appropriate case management of high-risk customer reviews and for obtaining and maintaining necessary supporting documents.

1. Review internal/external alerts to identify the presence of unusual and/or potentially suspicious activity patterns that may require reporting based on BSA/AML requirements. Perform investigations to determine through transaction analysis, CIP and/or customer due diligence (CDD) if account transactions patterns are indicative of suspicious activities. Utilize Bank source systems and other available internal and external sources to complete comprehensive analysis of transactions. Prepare SAR narrative and PDF for activity recommended for a SAR filing. Conduct 90-day follow-up review, as applicable.
2. Perform required reviews associated with the Bank’s High-Risk Customer (HRC) profiles. Conduct comprehensive analysis of HRC overall account(s) activity; request additional customer due diligence information, updated CIP/CDD questionnaires, or other records as needed; document analysis and results of the review. Recommend supported risk-based changes to customer risk rating based on overall analysis of customer profile and account activities.
3. Collects complete and accurate data that sufficiently supports case investigations and high-risk reviews, as well as alert clearing, when appropriate. Maintains electronic files within BAU or Department Shared folders.
4. Apply time management and organization skills to maintain appropriate case management and tracking of assigned work (via BAU logs or AML Dashboard).
5. Recommend course of action (account closure; 314(b) Request; internal Request for Information (RFI); escalation to SAR Review Committee, etc.) based on the analysis.
6. Track internal/external communication through completion. Leverage contacts/responses to support overall analysis and conclusions.
7. Assume additional responsibilities to assist with BAU workflows, Management reports, audits/exams, or department or bank-wide projects that require BSA oversight initiatives.
8. Maintain open and timely communication with BSA Management regarding any potential delays or road-blocks that impede workflows and deadlines (regulatory; BAU; projects).
9. Identify and recommend changes to department policies and procedures.
10. Perform other duties as required.

Education:

Associate degree and/or equivalent work experience in the Banking/Financial industry. CAMS Certified or certification in progress.

Skills and Experience:

• Minimum of five-year experience in BSA/AML (alert; case; high-risk); Retail Banking (branch operations) experience is beneficial.
• Strong knowledge of Anti-Money Laundering laws and regulations.
• Experience or familiarity with AML Customer Risk Rating process is preferred.
• Team-oriented individual that is readily flexible to assume different workloads and contribute to the team’s success.
• Strong organizational and analytical skills, and willingness to tackle new and difficult challenges.
• Solid investigative skills and ability to work independently. Complete assigned duties within specified timeframes.
• Ability to exercise sound judgment and to observe the highest degree of confidentiality in the handling of information.
• Strong interpersonal (verbal and written) communication skills with all levels of the company.
• Proficient in MS Office (Outlook/Word/Excel/PowerPoint). Microsoft Macro experience is beneficial.
• Experienced with AML monitoring system (Verafin) preferred, not required.