AML Analyst, Cannabis

About CFG Bank

CFG Bank is a Baltimore-based financial institution serving healthcare, multifamily, and the broader Mid-Atlantic market. As the city’s largest locally headquartered bank by deposits and the sixth largest overall in Baltimore, the bank has expanded from $1 billion to more than $6+ billion in assets by 2026. With over three decades of experience, it is also recognized as one of the top five healthcare bridge-to-HUD lenders in the United States. The organization combines the capabilities of a large bank with a more personalized service model and has been named a “Best Place to Work” by the Baltimore Business Journal in multiple years.

Role Summary

The AML Analyst – Cannabis Banking manages the daily monitoring, oversight, and risk controls for cannabis-related customers and activity. This work must align with Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Counter Terrorist Financing (CFT), and the bank’s Cannabis Banking Policy. The role acts as a specialist on cannabis-related risk areas such as licensing, ownership structures, transaction behavior, and regulatory expectations. It also supports documentation for examinations, enhanced due diligence, transaction monitoring, and suspicious activity reporting for cannabis and cannabis-linked businesses.

Key Responsibilities

• Carry out initial and recurring Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews for direct and indirect cannabis-related customers.
• Evaluate licenses, beneficial ownership, regulatory status, account activity, cash movement, and whether behavior matches the stated business purpose and risk rating.
• Keep customer records complete, current, and organized so they can stand up to audit, regulatory, and examiner review.
• Work through automated monitoring alerts and internal escalations involving cannabis customers through the bank’s AML systems.
• Investigate activity that may be unusual or suspicious, especially cash-heavy patterns, fast fund movement, commingling, third-party payments, structuring, and similar cannabis risk signals, then document conclusions clearly and defensibly.
• Escalate concerns, emerging risks, or notable trends to the BSA Officer or manager as needed.
• Draft Suspicious Activity Reports (SARs) that are timely, accurate, and complete, with narratives that reflect cannabis-specific risk knowledge and regulatory expectations.
• Retain supporting files and investigative workpapers that demonstrate compliance during examinations.
• Contribute to cannabis-focused BSA/AML risk assessments by identifying inherent risk, controls, and residual exposure.
• Help update and maintain cannabis banking policies, procedures, and internal controls.
• Take part in audits, exams, and independent testing by supplying records, explaining controls, and responding to questions about the cannabis banking program.
• Act as an internal point of contact for cannabis-related AML/CFT questions from frontline, operations, lending, and compliance teams.
• Support the creation and delivery of cannabis-specific BSA/AML training so employees understand key risks, red flags, and expectations.
• Assist with wider BSA/AML reviews, investigations, and compliance projects based on team priorities and business needs.
• Perform other assigned duties as needed.

Requirements

• Bachelor’s degree or an equivalent combination of education and experience, plus 3–5 years of BSA/AML experience in a financial institution, including CDD/EDD, transaction monitoring, and SAR investigations.
• Strong working knowledge of cannabis-related AML risk, including cash-intensive operations and complicated ownership structures.
• Experience supporting a cannabis banking program at a regulated financial institution is preferred.
• Professional credentials such as CAMS, CFE, or a similar AML/compliance certification are preferred.
• Background in supporting regulatory examinations from federal or state banking regulators is preferred.
• Exposure to GreenCheck and/or Verafin is preferred.
• Strong understanding of BSA/AML/CFT regulatory requirements and examiner expectations is preferred.

Work Environment

The role follows a hybrid arrangement after the first 90 days: four days in the office and one day remote.

Compensation

The annual salary for this position is $68,000 to $77,000. Pay is set based on experience, qualifications, and internal equity.

Benefits and Additional Compensation

• Medical insurance, dental and vision coverage, disability insurance, life insurance, mental health support services, and a wellness program.
• Paid time off including vacation, sick leave, and volunteer days.
• 401(k) retirement plan with employer match.
• Additional pay elements may include a discretionary annual bonus and overtime pay for non-exempt roles.

Equal Opportunity Notice

CFG Bank is an equal opportunity employer and considers applicants from all protected groups, including protected veterans and individuals with disabilities. Accommodation requests during the hiring process can be directed to TalentAcquisition@cfg.bank.