The AML Due Diligence Analyst conducts detailed assessments of customer risk for money laundering, financial crimes and terrorist financing, through thorough and moderate to complex analysis of customer transaction patterns, negative news on the entity/customer, and assessments of expected activity versus actual activity based on the nature of the business. The AML Due Diligence Analyst maintains knowledge of financial crime typologies and is well versed in the identification of and escalation o... more details
The AML Due Diligence Analyst conducts detailed assessments of customer risk for money laundering, financial crimes and terrorist financing, through thorough and moderate to complex analysis of customer transaction patterns, negative news on the entity/customer, and assessments of expected activity versus actual activity based on the nature of the business. The AML Due Diligence Analyst maintains knowledge of financial crime typologies and is well versed in the identification of and escalation of possible suspicious activity for further investigation. The AML Due Diligence Analyst maintains current knowledge of the customer risk impacts related to subpoenas, 314(a) requests, 314(b) requests and OFAC. Recommends course of action to management based on an analysis of the findings and documents the analysis in the Bank’s case management system. Supports the company’s compliance efforts with the Banking Security Act (BSA).
RESPONSIBILITIES
Utilize daily new customer report and import information into new customer risk scoring and rating tool.
Review results from the output of the new customer risk scoring tool to identify new high-risk customers that need to be scheduled for a 90-day Enhanced Due Diligence review.
Review the output from the new high-risk customer risk scoring tool to identify restricted or prohibited entity/customer types that require further action.
Conduct 90-Day New high-risk customer EDD reviews to determine if activity is reasonable based on the nature of the business and is consistent with the CDD/expected activity information collected at account opening. Based upon analysis of activity, make recommendation if ongoing high-risk activity monitoring is required.
Conducts a review of the quarterly Rules Based Risk Rating (RBRR) results and assess account(s) that scored at or above the high-risk threshold and make determination if the entity/customer qualifies as high-risk and subject to ongoing high-risk monitoring and Enhanced Due Diligence reviews.
Performs moderate to complex transactional and customer analysis to support the Enhanced Due Diligence (EDD) reviews of the Bank’s high-risk customers.
Analyze and review moderate to complex account relationships, including a holistic review of customer relationship, transactions and customer provided information to support recommendations and appropriate risk-based business actions to be taken concerning client relationship onboarding or ongoing monitoring; escalating suspicious activity as necessary.
Communicates with branch, business units and management for clarification when researching and conducting reviews, as necessary.
Completes written report of findings which includes comprehensive details, negative news searches, pivot tables, detailed narrative of business activities and risk-based recommendations.
Requires continuous exercise of judgment following broad guidelines.
Maintains a thorough understanding of money laundering and financial crime and terrorist financing typologies and predicate offenses for money laundering and is able to apply that understanding in analyzing customer transaction and behaviors to identify activity consistent with the typologies.
Maintains a thorough understanding of the BSA/AML KYC, CDD, EDD requirements and OFAC Sanctions compliance requirements. The AML Due Diligence Analyst maintains sufficient knowledge and understands when an EDD review should be escalated to the Investigations team for a AML case investigation or should be brought to the attention of the AML Due Diligence Manager, Director of BSA Operations or Chief BSA Officer.
Assist with daily department mailbox duties, which may include but not limited to, Non-Lending Credit Risk Review Requests, detailed customer history.
Participates in ongoing training to maintain knowledge of BSA/AML and OFAC regulatory requirements and new and emerging money laundering and financial crimes typologies.
Keeps abreast of Bank policy, procedure, systems, products and services. Monitors industry trends relative to money laundering or fraud schemes including detection and reporting of suspicious activity.
Other related duties as assigned.
QUALIFICATIONS
4 years banking experience required.
3 years BSA experience required.
Certified Anti-Money Laundering Specialist (CAMS) or equivalent current professional certification(s) preferred.
A reasonable, good faith estimate of the minimum and maximum base salary or pay for this position is $28.29 to $42.44. Actual compensation will vary based on various factors including but not limited to location, experience, and performance. A discretionary bonus and/or business line incentive may be provided, in addition to a medical and other benefits, dependent on the position. For more information regarding our benefits, please visit https://www.ppbi.com/careers.html
Job Abstracts is an independent Job Search Engine. Job Abstracts is not an agent or representative and is not endorsed, sponsored or affiliated with any employer. Job Abstracts uses proprietary technology to keep the availability and accuracy of its job listings and their details. All trademarks, service marks, logos, domain names, and job descriptions are the property of their respective holder. Job Abstracts does not have its members apply for a job on the jobabstracts.com website. Additionally, Job Abstracts may provide a list of third-party job listings that may not be affiliated with any employer. Please make sure you understand and agree to the website's Terms & Conditions and Privacy Policies you are applying on as they may differ from ours and are not in our control.
We would like to take a second to Welcome You to Job Abstracts, the nation’s largest Pure Job Board. With over 3.1 million job listings from 15,000+ Companies & Organizations, we help job searchers find careers that match their interests. As an anonymous user, you have probably discovered how easy our system is to use. However, you have just scratched the surface of what we can offer.
We encourage you to Register so you can use our most powerful features: searching with multiple terms, setting up multiple locations, establishing favorite companies, and accessing your search history. If you find a job you like, you can apply directly for it, and then, keep notes on it. We will also keep a lookout for jobs that match your search terms and email you when we find something you may like.
You can register for free and the system is free to use. If you like our system so far, click on Register and unlock the power required by serious job searchers.
Any time you conduct a search, the system shows you job matches, ranked by their Relevance Score (RS).
The score is calculated by a proprietary algorithm that uses Intelligent Machine Learning.
The Relevance Score tells you how well the job opportunity matches your search term or terms.
When not logged in, the system is limited to one search term. Scores for single term matches are usually lower.
When you register, log in, and set up multiple terms prioritized by importance, the jobs found for you will receive a much higher Relevance Score.