AML/CFT Specialist

About the Role

The AML/CFT Specialist researches and analyzes account transactions using internal reports and system-escalated alerts to detect potential structuring, money laundering, fraud, drug trafficking, terrorism, and operational risks. The role also involves performing operational duties related to the Bank Secrecy Act, USA PATRIOT Act, and Office of Foreign Assets Control regulations, including Customer Identification Program (CIP), Customer Due Diligence (CDD), Monetary Instrument Log (MIL), Currency Transaction Reports (CTRs), and ongoing annual due diligence reviews.

Responsibilities

• Conduct CIP and CDD reviews, including compiling data, account documentation, and risk rating applicable to customers.
• Monitor for missing, inadequate, or incorrect CIP/CDD used for new accounts and escalate outstanding requests to Senior Management.
• Monitor new accounts for potentially missed higher risk customer (HRC) protocols (e.g., MSBs, POATMs, CRBs).
• Process daily alerts from the Bank’s AML/CFT software, identifying unusual or suspicious activity by reviewing and analyzing account activity.
• Prepare descriptive alert narratives detailing the "who, what, where, when, why, and how" to determine if further investigation is warranted.
• Process WatchList alerts (e.g., FinCEN 314a, OFAC) within regulatory timeframes and escalate suspect matches as needed.
• Maintain the Monetary Instrument Log (MIL) and analyze reportable transactions for potential unusual or suspicious activity.
• Assist the AML/CFT Team with CTRs, CTR Exemption processes, case investigations, document pulling, CSV formatting, and research using investigative software.
• Conduct Enhanced Due Diligence (EDD) reviews as needed.
• Maintain procedural documentation of relevant tasks and responsibilities.
• Prepare various reports and establish relationships with key Bank team members.
• Assist with third-party audits and reviews.
• Act as an advocate for the Bank in internal and external interactions.
• Attend training and seminars as required.
• Collaborate with team members to accomplish Bank objectives.
• Perform other duties as assigned.

Schedule

Work hours are typically Monday through Friday. Employees may be expected to work additional hours, including earlier or later hours and/or weekends, to meet regulatory obligations. Some light travel may be required for banking center visits, training, or customer onsite visits.

Requirements

• High school diploma or equivalent; advanced education and/or CAMS certification preferred.
• Minimum 1 year of retail banking experience, including processing customer transactions, new account opening, or bank retail operations.
• 1-2 years of experience in AML/CFT or Fraud preferred.
• Working knowledge of federal banking regulations desired.
• Previous experience with FIS operating systems or related bank platform software preferred.

Skills

• Intermediate proficiency in Microsoft Office products (Word, Excel, Outlook).
• Excellent critical thinking, problem-solving, and judgment skills, with the ability to detect unusual or suspicious activity patterns.
• Strong written and verbal communication skills.
• Excellent organizational skills and attention to detail, with the ability to multi-task in a fast-paced, high-volume environment.
• Ability to work independently and collaboratively with team members and other lines of business.
• High level of ethics and confidentiality.