AML Analyst

About the role

The AML (Anti Money Laundering) Analyst investigates suspicious activity on members’ accounts in compliance with the Bank Secrecy Act, Anti-Money Laundering, and Patriot Act. This individual plays a critical role in protecting Suncoast Credit Union from legal, regulatory, and reputation risks. An ideal candidate is a highly motivated, collaborative, independent individual with excellent analytical skills.

Responsibilities

• Investigate moderate to complex cases of suspicious activity on member accounts to protect the credit union from external criminal activity with primary focus on Money Laundering, Patriot Act, and Bank Secrecy Act issues
• Prepare referrals for accounts that require escalation due to AML risk
• Review, analyze, and evaluate high risk member/business information, transactional information, and third-party vendor provided information to assess AML risk
• Validate risk scoring criteria for member and business account profiles
• Conduct reviews of data analysis from automated monitoring system, referrals, reports, and workflows to detect AML/Terrorist Financing activity
• Conduct member interviews
• Obtain and review evidence, exhibits, photographs, and other information through internal documentation, internet resources, law enforcement agencies, and public records
• Assist in the coordination and preparation of documents for law enforcement
• Complete written analysis and investigative reports to recommend disposition of cases including the collection, preparation, and preservation of evidence
• Prepare Suspicious Activity Reports (SARs) in compliance with established regulatory guidelines and timeframes
• Respond to emails received to BSA/AML email from various entities within the credit union
• Assist other credit union staff with questions and information requests related to cases of terrorist financing and money laundering
• Complete operational tasks/duties including but not limited to sending letters to members, reviewing, and evaluating transactions to identify AML/Terrorist financing trends, placing restrictions on accounts as necessary, researching and analyzing accounts on behalf of internal staff, and restriction removal requests
• Assist with additional operational tasks as needed by management
• Maintain required performance standards for quality, communication, promptness, and identifying AML/Terrorist financing trends
• Maintain a current understanding of the USA Patriot Act, Bank Secrecy Act, Office of Foreign Assets Control (OFAC), and related laws and regulations
• Uphold Suncoast Credit Union’s culture, vision, and core values
• Participate in team meetings and projects by providing ideas for department improvements and efficiency opportunities
• Must maintain a high level of confidentiality
• Maintain knowledge and understanding of current trends, laws, and issues affecting the area of expertise
• Attend educational events to increase professional knowledge
• Complete annual compliance and info security training to understand employees' role in maintaining effective compliance and security programs

Qualifications

• Bachelor's degree in business administration, finance, or a related field (A comparable combination of work experience and training may be substituted for education requirements.)
• 2+ years of experience with a financial institution; preferably in the areas of BSA, AML, or fraud investigation
• Certified Bank Secrecy Act Professional ™ (CBSAP) is preferred or must be obtained within one year of the start date
• Proficient understanding of legal and court processes
• Ability to explain facts, policies, and practices
• Ability to prioritize tasks, deal effectively with competing and changing priorities to meet deadlines
• Accurate, detail-oriented, and organized with task management
• Effective written, verbal, and interpersonal communication skills to interact with members, staff, vendors, and government regulators
• Ability to analyze and resolve difficult and often complex problems or situations
• Strong knowledge and understanding of credit union products, services, policies, and procedures
• Strong knowledge and understanding of regulatory compliance
• Strong knowledge and understanding of credit union computer systems and software applications required to perform job duties

Skills

• Analytics

Benefits

• Financial Well-Being: Bonus Program up to 12%, 401K Matching up to 8%, Retirement Planning, Pay Increases based on Competency, Employee Loan Discounts, Flex Spending Accounts
• Wellness: Medical Coverage, Dental and Vision Coverage, Access to 4,000+ Gyms, Mental Health Resources, PTO Wellness Days, Short Term and Long Term Disability Coverage
• Work-Life Balance: 11 Paid Holidays, 3 weeks of Paid Time Off, 4 weeks of Paid Parental Leave, Birthday PTO
• Community Involvement: Paid Volunteer Hours
• Growth: Degree Assistance up to $5,000 per year