The AML Associate will be responsible for data entry for reviewing alerts generated by the bank's transaction monitoring system, Actimize, or resulting from internal referrals to determine whether activity should be escalated for further review and possible Suspicious Activity Report filing.
Responsibilities include but are not limited to:
- Review alerts produced from Actimize Suspicious Activity Monitoring system and internal referrals using both internal and external tools, escalating to investigation anything warranting further review.
- Properly document all parts of the alert review process, including reason for escalation or closure of the alert.
- Work with Branch personnel in order to attain proper KYC information and CIP documentation when warranted.
- Assist with special projects as provided by AML management.
- Assist OFAC team with ruling out possible matches with SDN list of negative news searches.
Inform Investigations Manager of common alerts to ensure the monitoring platform consistently addresses prevailing risk. - Support in the day-to-day compliance efforts with AML/KYC requirements.
Other Responsibilities:
- Comply with all regulations pertaining to BSA, USA PATRIOT ACT, and OFAC. Complete annual BSA training. Report suspicions of criminal activity, or any attempt to avoid BSA reporting requirements on the part of customers or employees, to the AML/BSA Compliance Department. For supervisory positions, ensure BSA training requirements are completed by staff.
- Performs other job duties as deemed necessary by supervisor.
Required Skills:
- Working understanding of reporting requirements of the Bank Secrecy Act (BSA), and USA PATRIOT Act.
- Excellent oral and written communications skills.
- Ability to conduct research using various sources.
- Knowledge of MS Office Applications, including Excel and Word.
- Ability to maintain attention to detail and accuracy under pressure situations.
- Team oriented and able to work independently.
Required Experience:
- High School diploma or GED and a minimum of 1 year experience in banking operations with an understanding of anti-money laundering processes or completion of the Valley internship program in AML.
- Experience with the NICE Actimize system preferred.
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