Current Job Openings
KORE1, a nationwide provider of staffing and recruiting solutions, has an immediate opening for AML Monitoring Analyst.
The AML Monitoring Analyst II analyzes account transactions for unusual, out of pattern or suspicious activity. The AML Monitoring Analyst II will typically be assigned alerts generated from rules that are more complex and/or higher risk for financial crime. Responsibilities include understanding of all transaction monitoring rules underlying AML typologies and then reviewing and analyzing transaction alerts to assess whether the alerted activity is consistent with customer expectations and/or nature of the business and then appropriately disposition as non-suspicious or escalate the alert to case for further investigation. The AML Monitoring Analyst II will may also review and disposition Watchlist Monitoring alerts for escalation and reporting, including OFAC, 314(a) and PEP alerts. May also be required to complete and file Currency Transaction Reports, as well other required monitoring and recordkeeping and reporting including but not limited to, monetary instrument reporting and AML System validation. 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).
ESSENTIAL DUTIES AND RESPONSIBILITIES INCLUDE THE FOLLOWING:
• Review and analyze assigned automated transaction alerts produced from the bank's AML monitoring system. Conducts sufficient analysis of the customer patterns and activities in order to Provide clear written statement supporting disposition decision and documentation within the AML software.
• Meet productivity and quality expectations.
• Reviews assigned watchlist filtering alerts and assesses the probability of actual customer matches using various investigative tools and research.
• Review bi-weekly FinCEN 314(a) alerts, as well as any special 314(a) postings by FinCEN. Review and research all applicable Watch List Alerts, document findings, notify management of any positive matches, and report to FinCEN as required.
• Performs OFAC research to determine if alert is a true match or false positive. Ensures any true matches to any of the Bank's screening lists are appropriately escalated to the BSA Officer for further action (e.g., blocking, freezing, reporting to OFAC, etc.) As assigned, may act as liaison with OFAC as needed for guidance or instructions for handling potential OFAC matches.
• Reviews PEP watchlist alerts and performs research to document findings and notify management of true positive
matches to ensure compliance with the Bank's PEP Policy and procedure.
• Following established procedures and using system reports, reviews cash transaction for potential Currency Transaction Reporting (CTR). Responsible for preparing and filing CTRs, ensuring transactions are appropriately aggregated and reported to FinCEN.
• Identify customers that may qualify for CTR exemption.
• Performs data validation checks from established reports to ensure data from the core system is properly ingested into the AML software. Notifies management should any unanticipated discrepancies in the data be noted on reports.
• Manually enters data that is not captured electronically, may include making necessary corrections to data in the AML software, when necessary.
• Reviews Monetary Instrument Log (MIL) information entered by the branches via Horizon and communicates with branches to accurately complete the log, as needed.
• Review and document other monitoring reports as needed.
• Maintains a deep and thorough understanding of money laundering and financial crime typologies/red flags and terrorist financing typologies and red flags as well as a thorough understanding of various predicate offenses to money laundering and is able to apply those concepts to the analysis of customer transaction activity and behavior to identify activity consistent with the typologies.
• Maintains a thorough understanding of the BSA/AML suspicious activity detection requirements, USA PATRIOT Information Sharing 314(a)(b), and OFAC Sanctions compliance requirements. Has appropriate understanding to know when to escalate cases to the AML Monitoring and Operations Manager, Director of BSA Operations or Chief BSA Officer as appropriate.
• Keeps management apprised of issues or emerging risks.
• Participates in ongoing training to maintain current knowledge of BSA/AML and OFAC new and emerging money laundering and financial crime typologies and risks as well as regulatory requirements.
• Keeps abreast of Bank policy, procedure, systems, products and services. Monitors industry trends relative to money laundering or fraud
• Review and analyze assigned automated transaction alerts produced from the bank's AML monitoring system. Conducts sufficient analysis of the customer patterns and activities in order to Provide clear written statement supporting disposition decision and documentation within the AML software.
• Meet productivity and quality expectations.
• Reviews assigned watchlist filtering alerts and assesses the probability of actual customer matches using various investigative tools and research.
• Review bi-weekly FinCEN 314(a) alerts, as well as any special 314(a) postings by FinCEN. Review and research all applicable Watch List Alerts, document findings, notify management of any positive matches, and report to FinCEN as required.
• Performs OFAC research to determine if alert is a true match or false positive. Ensures any true matches to any of the Bank's screening lists are appropriately escalated to the BSA Officer for further action (e.g., blocking, freezing, reporting to OFAC, etc.) As assigned, may act as liaison with OFAC as needed for guidance or instructions for handling potential OFAC matches.
• Reviews PEP watchlist alerts and performs research to document findings and notify management of true positive
matches to ensure compliance with the Bank's PEP Policy and procedure.
• Following established procedures and using system reports, reviews cash transaction for potential Currency Transaction Reporting (CTR). Responsible for preparing and filing CTRs, ensuring transactions are appropriately aggregated and reported to FinCEN.
• Identify customers that may qualify for CTR exemption.
• Performs data validation checks from established reports to ensure data from the core system is properly ingested into the AML software. Notifies management should any unanticipated discrepancies in the data be noted on reports.
• Manually enters data that is not captured electronically, may include making necessary corrections to data in the AML software, when necessary.
• Reviews Monetary Instrument Log (MIL) information entered by the branches via Horizon and communicates with branches to accurately complete the log, as needed.
• Review and document other monitoring reports as needed.
• Maintains a deep and thorough understanding of money laundering and financial crime typologies/red flags and terrorist financing typologies and red flags as well as a thorough understanding of various predicate offenses to money laundering and is able to apply those concepts to the analysis of customer transaction activity and behavior to identify activity consistent with the typologies.
• Maintains a thorough understanding of the BSA/AML suspicious activity detection requirements, USA PATRIOT Information Sharing 314(a)(b), and OFAC Sanctions compliance requirements. Has appropriate understanding to know when to escalate cases to the AML Monitoring and Operations Manager, Director of BSA Operations or Chief BSA Officer as appropriate.
• Keeps management apprised of issues or emerging risks.
• Participates in ongoing training to maintain current knowledge of BSA/AML and OFAC new and emerging money laundering and financial crime typologies and risks as well as regulatory requirements.
• Keeps abreast of Bank policy, procedure, systems, products and services. Monitors industry trends relative to money laundering or fraud
QUALIFICATIONS:
• 3 years banking experience required
• 2 years BSA experience required
• High school diploma required; college degree in related field preferred or equivalent experience required.
• Certified Anti-Money Laundering Specialist (CAMS) or equivalent current professional certification(s) preferred.
• 3 years banking experience required
• 2 years BSA experience required
• High school diploma required; college degree in related field preferred or equivalent experience required.
• Certified Anti-Money Laundering Specialist (CAMS) or equivalent current professional certification(s) preferred.
KNOWLEDGE, SKILLS, ABILITIES REQUIRED:
Developing professional expertise, applies company policies and procedures to resolve a variety of issues.
• Must have experience in fast-paced, time sensitive environment.
• Must have advanced knowledge of banking and the applicable AML regulations.
• Ability to synthesize complex and highly complex information and patterns of activity and produce comprehensive written narrative.
• Advanced writing skills
• Able to recognize transaction activity for trends and patterns associated with complex typologies for financial crime, money laundering and terrorist financing and/or predicate offenses to money laundering to ensure compliance with the BSA/AML, USA Patriot Act, and OFAC.
• Advanced level proficiency using MS Word, Excel and Outlook
• Must be organized with the ability to meet deadlines with the highest level of accuracy.
• Must have a functional understanding of anti-money laundering legislation specifically related to Suspicious Activity Reporting
• Must have moderate to advance understanding of OFAC Sanctions Programs
Developing professional expertise, applies company policies and procedures to resolve a variety of issues.
• Must have experience in fast-paced, time sensitive environment.
• Must have advanced knowledge of banking and the applicable AML regulations.
• Ability to synthesize complex and highly complex information and patterns of activity and produce comprehensive written narrative.
• Advanced writing skills
• Able to recognize transaction activity for trends and patterns associated with complex typologies for financial crime, money laundering and terrorist financing and/or predicate offenses to money laundering to ensure compliance with the BSA/AML, USA Patriot Act, and OFAC.
• Advanced level proficiency using MS Word, Excel and Outlook
• Must be organized with the ability to meet deadlines with the highest level of accuracy.
• Must have a functional understanding of anti-money laundering legislation specifically related to Suspicious Activity Reporting
• Must have moderate to advance understanding of OFAC Sanctions Programs
Compensation depends on experience but is typically 30-40/hr
ABOUT KORE1
Specializing in professional and technical recruiting, KORE1 is committed to supporting top IT, Engineering, Creative, Scientific, Accounting and Finance professionals in their career paths. We build deep relationships with leading companies, connecting them to exceptional talent every day. With extensive industry expertise and unmatched opportunities, our goal is to provide a unique experience for our contractors and consultants as they prepare for their next role. We are passionate about matching the right people with the right companies.
Specializing in professional and technical recruiting, KORE1 is committed to supporting top IT, Engineering, Creative, Scientific, Accounting and Finance professionals in their career paths. We build deep relationships with leading companies, connecting them to exceptional talent every day. With extensive industry expertise and unmatched opportunities, our goal is to provide a unique experience for our contractors and consultants as they prepare for their next role. We are passionate about matching the right people with the right companies.
Kore1 provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, Kore1 complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training. Kore1 expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of Kore1's employees to perform their job duties may result in discipline up to and including discharge.
Salary Range:
$ 30.00 - $ 40.00