BSA/AML Investigator

Job Description:

Role

Responsible for investigating transactions and account alerts across all business lines for potential Bank Secrecy Act/Anti Money Laundering (BSA/AML) red flags. Requires strong analytical/research skills for conducting customer risk analysis, behavior reviews and account monitoring of high-risk customers. This role is responsible for investigating complex suspicious activity cases to ensure that potentially suspicious transactions are appropriately identified within the specified timeframes. The position focuses on enhanced due diligence (EDD) relating to BSA/AML risks involving customers and products. Ability to grasp complex processes quickly and identify risks while applying critical thinking and risk-based analysis skills. Ensures compliance with the Bank Secrecy Act/Anti-Money Laundering (BSA/AML), Office of Foreign Assets Control (OFAC), USA Patriot Act and related laws and regulation.

Essential Duties & Responsibilities

• Maintains a case workload to conduct ongoing monitoring and investigations of high risk accounts and transaction activity through analysis of EDD, transactional data, historical data, internal and external searches in accordance with leading practices and bank's policy and procedures. Supports departmental quality standards and workload.

• Investigates transaction and customer alerts, reports and referrals for unconventional customer behavior to identify potentially suspicious financial activity to include money laundering, terrorist financing, fraud and/or other financial risks or crimes. Makes risk-based recommendations on appropriate actions to be taken to maintain compliance with BSA/AML regulatory reporting requirements.

• Use strong written communication skills to create detailed documentation of reviews of suspicious activity and/or customer risk analysis to make appropriate recommendations, such as SAR filing or ongoing monitoring.

• Work with departments and branches to collect and update account records related to enhanced due diligence. Review risk parameters in Fraud/AML software and research account records to ensure accuracy.

• Prepare suspicious activity reports (SAR) for filing with regulatory agencies. Prepares currency transaction reports (CTR) and monitors cash sales of monetary instruments.

• Maintain current knowledge of BSA/AML trends and guidelines. Review guidance and regulatory advisories to stay abreast of industry changes and trends.

• Perform other duties as assigned.

• Participate in proactive team efforts to achieve departmental and company goals.

• Must comply with current applicable laws, regulations and bank policies and procedures. Comply with all safety policies, practices and procedures. Report all unsafe activities to supervisor and/or Human Resources.

Experience

A minimum two years of similar or related experience, including preparatory experience.

Education/Certifications/Licenses

A high school degree or equivalent; CAFP, CAMS, CFE or similar preferred.

Skills

• Excellent analytical and organizational skills. Knowledge of BSA and USA Patriot Act requirements. Advanced Excel required.

• Experience with Verafin Financial Crime Management Platform preferred.

• A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance.

CapFed® is an equal opportunity employer.