AML Investigator II

About the role

At Valley Bank, we believe in people's growth potential. We invest in it, protect it, and focus it. As the leading relationship bank built for growth—with over $60 billion in assets, 3,800 experts, and more than 200 consumer branches and commercial banking offices across the US—we are driven by an ambition that goes deeper than just having a job. When you work for us, we help you turn your passions and strengths into assets to propel your ambitions and build the professional legacy you want.

The AML Investigator has extensive knowledge of the principles of money laundering and terrorist financing and the Bank's AML policy and procedures. This role performs periodic due diligence reviews and researches, analyzes, and investigates consumer/commercial account behavior for potential money laundering or terrorist financing-related suspicious activity in accordance with Bank policies and procedures.

Responsibilities

• Review and analyze alerts generated by the Bank's electronic monitoring software to determine if activity warrants further review.
• Review and analyze internal AML reports, draw conclusions, and make recommendations regarding the need for further investigation.
• Conduct suspicious activity investigations and determine whether a Suspicious Activity Report (SAR) is needed.
• Draft narratives for each case substantiating the decision or recommendation.
• Conduct due diligence reviews on high-risk customers through analysis of customer activity compared to KYC documentation and internal/external information sources to determine if further due diligence is needed and/or a change in risk disposition is warranted.
• Manage complex cases involving multiple relationship accounts and complex ownership structures.
• Draft and file Suspicious Activity Reports with FinCEN.
• Identify and analyze records from outside agencies (e.g., credit bureau records, police and court records) to facilitate investigations.
• Make recommendations for exiting customer accounts/relationships based on investigation or CDD/EDD.
• Work with the AML management team to ensure the monitoring platform consistently addresses prevailing risk.
• Support management in day-to-day compliance efforts with AML/KYC requirements.
• Analyze, plan, and complete special projects assigned by AML management.

Requirements

• Strong knowledge of the Bank Secrecy Act, USA Patriot Act, OFAC, and Suspicious Activity Reporting requirements and regulations.
• Excellent researching and analytical skills.
• Confidence and ability to identify potential issues and solutions and work with management to resolve them.
• Strong time management skills and ability to prioritize and organize assignments.
• Excellent verbal and written communication skills.
• Ability to provide guidance and training to investigators within the department regarding AML, BSA, and OFAC-related issues.
• Ability to interact and respond intelligently to inquiries from Internal Audit and bank regulators.
• Advanced skills in Microsoft Word, Excel, Access, PowerPoint, Outlook, and experience with online research systems, including web-based tools.
• Team-oriented and able to work independently.

Qualifications

• High School Diploma or GED and a minimum of three years of experience with emphasis on BSA/AML, fraud, loss prevention, or corporate security investigative experience, or other experience analyzing customer financial activity for unusual behavior.
• Bachelor’s Degree preferred.
• FINRA Series 7, 24, and/or 66 preferred.
• ACAMS certification preferred.