Summary:Responsible for assisting the BSA/AML Compliance Officer with various activities relating to compliance, risk management and audits. Monitors prepaid programs for fraud and suspicious activity. Assists with resolving issues identified by internal auditors, external examiners and compliance consultants. Performs the duties of the Assistant BSA/AML Officer.
Qualifications:Education: Bachelor's degree in Business Administration, Accounting or Finance. A minimum of three years of BSA/AML/OFAC compliance experience. Or equivalent combination of education and experience.
Licenses/Certifications: ACAMS or completion of certification within 1 year of hire.
Experience: Formal bank education pertaining to the scope of the position. Seven or more years of combined training and education. Advanced knowledge (able to train and answer complex questions) of AML, BSA, USA PATRIOT Act, and OFAC regulations requirements and knowledge of applicable banking policies, procedures, laws, and regulations.
Essential Functions:A: Job Specific:- Evaluates operations to ensure Bank is meeting all applicable regulations. Creates, requests and/or reviews reports to identify AML and fraud concerns. Collaborates with internal staff to investigate issues.
- Resolves escalated issues relating to AML, fraud, negative balances, disputes and program variances to the BSA AML Officer and /or Senior Management. Assist in oversight of the bank efforts to prevent credit/prepaid card fraud and maximize recovery. Assists in creating and implementing processes for AML exposures and fraud prevention relating to new programs and products.
- Performs rate risk analysis on new accounts within 90-days of opening in the absence of the BSA/AML Officer.
- Assists BSA/AML Officer in recording and responding to audit findings. Requests information and testimony from Bank staff. Manages responses.
- Assists in performing the annual review of the following: exempt customers, high and medium risk customers, resident aliens, foreign customer list, customers without TINs, large balance customers, CTR Exemptions and Private ATM reviews. Performs Program manager and MSB site visits when applicable.
- Assists with creating the annual Compliance training curriculum. Leads training sessions, participates in the compliance committee meetings, researches and responds to training and compliance inquiries.
- Assists with BSA/AML annual risk assessment(s) and annual review for the bank and prepaid card programs.
- Monitors industry trends and issues to identify areas of concern and proactively mitigate AML and Fraud exposure.
- Assist and/or perform CIP testing of prepaid card programs
- Assist with writing and updating policy and procedures.
- Research and respond to 314a, 314b, Subpoena and customer complaints.
- Assists BSA/AML Officer to identify and suspicious activity as identified under BSA/AML and FinCEN guidelines and if necessary researches such suspicious activity. Performs transaction monitoring and clearing and prepares SARs for BSA/AML Officer review and files approved SARs. Completes 90 day reviews of previously filed SARs. Applies to both Retail banking and Prepaid card programs.
- Research and respond to concerns of customer fraud and/or abuse.
- Monitor and respond to potential OFAC matches.
- Assist with transaction and case monitoring system (Verafin) problem identification and resolution, threshold settings and system tuning.
- Ability to review and manipulate data for use in research and discover of AML and Fraud related events.
- Acts as a liaison for the company with program managers and vendors where necessary.
- Attends weekly program manager calls
Knowledge/Skills/Abilities:- The ability to communicate effectively and clearly, both in verbal and written communications.
- Excellent interpersonal skills.
- Strong knowledge of the business area that is being supported.
- Self-directed and motivated.
- The ability to manage multiple tasks.
- Excellent problem-solving skills.
- Ability to calculate figures as it relates to accounting processes.
- Ability to read, analyze and comprehend journals, audit reports, regulations and legal documents.
- Ability to respond to common inquiries or complaints from employees, customers, regulatory agencies, or members of the business community.
- Ability to effectively present information to top management and employee groups.
- Ability to write training documents, policies, procedures and correspondence.
- Verafin, FinCEN, IDology, Incomm, FIS and/or any combination of these system is a plus.
