JOB SUMMARY:

Community Federal Savings Bank (CFSB), located in New York City, is seeking an AML Investigator with at least 3 years of transaction monitoring experience. CFSB offers a full range of banking services including, ACH settlement services, pre-paid card issuance, and retail banking. In addition to serving our general customer base, we also service various types of money service businesses and FinTech companies.

The individual suitable for this role will display a high degree of professionalism and integrity through their work, and will possess a solid understanding of Anti-Money Laundering (AML), USA PATRIOT Act, and Bank Secrecy Act (BSA) regulations.

Responsibilities:

• Investigate and assess potential suspicious activity transaction monitoring alerts for potential money laundering, terrorist financing, fraud, and other potential illicit activities.
• Ensure efficient identification and monitoring of suspicious activities and transactions.
• Ensure escalation of alerts are properly handled and documented according to procedures.
• Conduct various types of investigations and ensure that the investigations are handled in accordance with defined procedures that meet standards for both quality and timeliness.
• In-depth understanding of transaction monitoring logic and rule scenarios.
• Assist in the testing related to a newly implemented transaction monitoring application and assist with reviewing the transaction monitoring rule scenarios to determine proper functionality.
• Assist with the testing of an artificial intelligence and machine learning tool that will provide investigative support to the compliance department’s transaction monitoring platform.
• Interact with other departments/lines of business on resolution of issues (ex. CFSB Operations Department, and CFSB clients).
• Stay abreast of regulatory changes as well as knowledge of FinTech products and associated risks.
• Effectively utilize and operate all tools and technological applications appropriate to the role (ex. Velocity FinCrime Suite, Lexis Nexis, Microsoft Office, QuantaVerse, etc.).
• Assist the Compliance Department with specific projects when needed.
• Ensure timely completion of all mandatory compliance training requirements.
• Support the Compliance Department on regulatory examinations, audits, and reporting requirements.

Knowledge, Skills, and Abilities:

• The ability to decision alert cases with minimal guidance and supervisors
• Strong analytical skills, along with strong attention to detail.
• Strong investigative and research skills using available public media and internal resources.
• Familiarity with reviewing/investigating third party customer relationships, or “customer-of-a-customer” relationships.
• Familiarity with the implementation, testing, and use of an artificial intelligence or machine learning tool that provides investigative and transaction monitoring support, a plus.
• Strong investigative and research skills using available public media and internal resources.
• Ability to draw conclusions based on the information available to determine whether regulatory reporting (SAR filing) or other risk exposure types are present
• Assist in timely drafting and filing of Suspicious Activity Reports and maintain case files with all required documentation for AML/BSA retention requirements
• The ability to recognize potential suspicious transactional activities (i.e. unusual/inconsistent customer transactional activities, high-risk geographies, patterns of structuring).
• Organized, detail oriented, self-motivated, and have strong communication, writing, and follow-up skills.
• Work independently as well as collaboratively. Able to provide feedback and suggest enhancements to processes or performance.
• Understanding of compliance and BSA/AML regulatory requirements, risks, and implications.
• Strong communication skills to effectively resolve issues to minimize risk and exposure.
• Ability to manage time efficiently and effectively.

Education, Training, and Experience:

• A minimum of 3 years of experience in AML transaction monitoring/investigative specific role
• Bachelor's degree or evidence of directly related experience to the role.

• Experience with and knowledge of various customer payment processors and FinTech types and their respective functions desired (ex. Money service businesses, money transmitters, ore-paid card programs, debit card programs, ACH and wires transfers, virtual and cryptocurrencies, and retail banking customers).
• Experience with conducting various types of investigations (i.e. 90-day Continuing Activity SAR Reviews, 314a, Subpoenas).
• Experience with responding to 314b inquiries.
• Strong compliance risk management initiative experience including ability to effectively coordinate and balance multiple projects and competing priorities in a time-sensitive environment, and meeting deadlines.
• Reports and maintain case files with all required documentation for AML/BSA retention requirements.
• Experience with conducting various types of investigations (i.e., 90-day Continuing Activity SAR Reviews, 314a, Subpoenas

Salary Range: $75,000 - $115,000 annually

"Base salary range does not include performance-based bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience."