AML Investigator

About the role

The Anti-Money Laundering (AML) Investigator is responsible for ensuring adherence to Bank Secrecy Act (BSA) through transaction monitoring, investigation of suspicious activity, and the drafting of Suspicious Activity Reports (SARs).

Responsibilities

• Utilize standard procedure and independent judgment to investigate and analyze customer account activity in a timely manner.
• Review suspicious activity alerts from a variety of sources, including but not limited to: AML monitoring software, referrals from branches and back-office "member facing" departments, and other BSA teammates, to accurately distinguish suspicious activity from false positive alerts.
• Create well documented and organized findings to write justification summaries for false positive decisions made.
• Use well documented and organized findings to make recommendations to BSA Management regarding the filing of SAR cases.
• Prepare all aspects of documentation retention and SAR form for review for submission to FinCEN, which includes accurately and concisely explaining customer and activity in narrative form.
• Use AML software to investigate, rate, and monitor high risk members and/or high-risk activity based on LMCU's risk appetite.
• Document well organized findings according to procedure.
• Maintain and update personal knowledge of AML rules, regulations, laws, and best practices.
• Perform other tasks or duties as needed to support AML/BSA/Compliance team.

Requirements

• Previous compliance experience, preferably in BSA / AML.
• Two or more years in a banking environment.
• A two-year college degree or completion of a specialized course of study at a business or trade school equivalent to approximately 64 credit hours.
• Analytical/Investigative skills to understand expected activity for individual members/member entities.
• Highly organized with attention to detail to ensure full and complete review of member alert and database of reviews/trends.
• A high degree of accuracy and detail-oriented.
• Knowledge of financial crimes and how they are perpetrated.
• Understanding of businesses and anticipated or expected transactions for business accounts.
• Proficient computer skills including experience using software systems and MS applications, ability and willingness to understand and apply additional software and regulatory reference materials.
• Ability to work in a collaborative environment as well as independently, able to self-initiate activity review and research.
• Effective time-management skills and the ability to prioritize multiple tasks with competing timelines (multitask).
• Demonstrated knowledge of banking, including internal structure of credit union and elements of credit union operations and service.
• Demonstrated in-depth knowledge of the Bank Secrecy Act and AML rules and regulations.
• Strong ability to understand specific BSA/AML, recognize solutions to mitigate risks and adapt to automation or other changes as implemented.
• Must have good working knowledge of Symitar, Application Extender/OnBase, and Image Center.