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Analyst
Chemical Financial Corporation
Troy, MI, United States
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JOB SUMMARY
The AML Analyst is responsible for investigating and monitoring transactional activity, ensuring compliance with all applicable federal regulations including the Bank Secrecy Act, U.S. Patriot Act, OFAC, and other anti-money laundering (AML).
REQUIRED KNOWLEDGE AND SKILLS
• High school diploma or equivalent required; Bachelor’s in Business or Criminal Justice Preferred.
• CAMS or CRCM certification preferred.
• Minimum of 1 – 3 years of experience in retail banking or other industry regulated by BSA/AML rules and regulations.
• Minimum of 1 – 3 years of prior experience in BSA/AML, Fraud or equivalent investigatory experience.
• Thorough knowledge of methods and practices of customer transactions and activities investigations.
• Strong working knowledge of branch operations and procedures, including overall knowledge of BSA, AML Know-Your-Customer (KCY), CIP and OFAC.
• Excellent organizational, analytical and investigatory skills, with focus on risk management.
• Ability to effectively multitask and work in a fast paced, structured, and deadline driven environment.
• Strong documentation skills, with the ability to summarize findings effectively.
• High degree of accuracy and attention to detail.
• Sound judgement and decision-making ability, taking into account all information.
• Excellent presentation and written communication skills including ability to interact positively with a wide variety of individuals within all levels of the organization.
• Aptitude for continuously learning and understanding the BSA/AML risk and concerns.
• Strong PC skills including Microsoft Office (Word, Excel)
DUTIES AND RESPONSIBILITIES
• Conduct research on items that are suspicious in nature, which includes researching, analyzing and investigating transactions for suspicious activity.
• Research, document and make recommendations on moderately complex cases generated from automated monitoring system or referred by Bank personnel.
• Investigate cases involving, but not limited to cash structuring, transactions involving Bank designated High Risk Countries (HRC), wire transfers, loan payments, and reports from banking centers regarding their customer's activity.
• Compile, record, and maintain appropriate documentation, data and files to promote efficient, consistent, and accurate management and regulatory reports.
• Work with business line stakeholders including tellers, banking center managers, branch operation specialists and loan officers to gather necessary information pertaining to investigations or suspicious activity.
• Review and investigate any potential matches to the FinCEN 314a list.
• Research or recommend 314 (b) information requests, as assigned.
• Prepare written narratives and other required reports in compliance with established regulatory guidelines, procedures and time frames.
• Submit investigation reports with recommendations to the BSA Officer for SAR filing within allotted timeframes.
• Document results of investigations on case management system to ensure requirements of both internal and external entities are met; substantiate NON-SAR decisions with documentation.
• Maintain thorough knowledge of the Bank's systems used to conduct research of customer transaction activity.
• Determine High Risk customers for Enhance Due Diligence.
• Identify Money Service Businesses and obtain proper documentation.
• Maintain a solid understanding of the BSA/AML regulations and FinCEN guidelines relative to BSA/AML Suspicious Activity Reporting and current money laundering schemes and investigative techniques required to detect such schemes.
• Keep up-to-date with the latest trends in the industry.
• Assist management with requests from auditors and examiners as needed.
• Perform Ad Hoc tasks as requested by BSA/AML Management.
• The ability to maintain a high level of confidentiality.