Compliance & Risk Specialist

Merchants Bank has an opening for a Compliance & Risk Specialist. This position can be worked from any Merchants Bank location in MN or WI after initial training in Winona.
This position will serve as the expert on our fraud software while monitoring for suspicious activity on accounts. Duties also include adhering to strict timing for reviewing alerts and creating cases. Will take minutes at various meetings and perform other compliance duties and risk assignments as needed. Must have excellent Microsoft Office experience. Must also be able to work independently and with others, and have strong problem solving, organizational, and analytical skills.
Please click on Apply Now or apply in person at any Merchants Bank location. Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
General Summary:
This position will serve as the expert on our fraud software, Verafin, to monitor for money laundering, kiting, unusual account activity, elder abuse and other suspicious activity within customer's accounts. Must adhere to strict timing for reviewing alerts and creating cases. Will also be responsible for CTR completion, OFAC monitoring and other reporting for Bank Secrecy Act duties. Will perform other compliance duties as needed. Will assist in risk assignments as needed.
Primary Responsibilities and Duties:

• Monitor and process data based on our Verafin Fraud software. Work closely with compliance to assist with the software.

1. Review alerts, document decisions and create cases as needed
2. Set Customer Behavior and monitor as required
3. Complete CTRs and assist with SARs
4. Complete Monetary Instrument Log
5. Input data for OFAC, Sanctions and Presidential Executive Alerts
6. Transfer high risk customer information from Aperio to Verafin
7. Review of high-risk customer in Verafin
8. Review and completion of annual exempt customer list

Must be able to take minutes at various compliance/risk meetings

Work with Venders to report issues, training needs or updates.

Assist with compliance and audit duties as assigned

Other duties as assigned

Regular and dependable attendance is an essential function of this job.

Employee will be expected to contribute to a positive working environment through words and actions.

Employee will be expected to take responsibility to insure that internal and external customers receive outstanding service.

Employee may be asked to perform other duties as required by business needs.

Employee will be expected to complete compliance and product knowledge assignments in a timely manner.

Skills and Abilities Required:

• Must have the ability to work independently and take ownership of their duties.
• Knowledge of banking systems, products and services
• Confidentiality of information reviewed or received is essential. Information cannot be shared. Guidelines will be given as the job develops.
• Excellent knowledge of Microsoft Office products, primarily Microsoft Excel.
• Excellent interpersonal skills required, including strong verbal and writing skills
• Solid analytical, organizational, problem solving and decision making skills.
• Strong planning ability, attention to details and the skill to recognize patterns of behavior.
• Ability to learn and react quickly if information is needed.

Desired Skills and Abilities:
Self-motivated individual that works well with a team or individually as necessary.
Personable, interacts well with customers and co-workers.
Working Conditions:
Little or no discomfort caused by environmental factors. Work performed primarily at a desk. Some exposure to mental/visual fatigue resulting from research of complex systems issues.
Relationships:
Will have contact with Merchants Bank employees.
This position requires a good knowledge of the various department functions and the many bank services offered. Position requires a strong knowledge of the Bank Secrecy Act, money laundering, and other types of account fraud. It also involves a variety of other responsible duties and the ability to work independently on projects as assigned. Will need to carry out existing policies and procedures.
Other details

• Job Family Compliance
• Pay Type Hourly

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