AML/CFT Specialist

Overview

The AML/CFT Specialist will examine and analyze account transactions utilizing internal reports and alerts generated by various banking business lines to identify transactions potentially related to structuring, money laundering, fraud, drug trafficking, terrorism, or other operational risks. This role also supports compliance with the Bank Secrecy Act, USA PATRIOT Act, and Office of Foreign Assets Control regulations, including oversight of Customer Identification Program (CIP), Customer Due Diligence (CDD), Monetary Instrument Log (MIL), Currency Transaction Reports (CTRs), and ongoing due diligence reviews.

Key Duties

• Perform CIP and CDD assessments, gather required customer data and documentation, assign risk ratings, and monitor for deficiencies or incorrect information on new accounts, escalating unresolved issues to senior management promptly.
• Evaluate daily alerts from AML/CFT software for unusual or suspicious activity, analyzing customer relationships and behaviors to determine if further investigation is needed. Draft detailed narratives summarizing findings.
• Process various WatchList alerts such as FinCEN 314a and OFAC, determining positive matches and escalating suspected matches according to regulatory deadlines.
• Maintain the Monetary Instrument Log and examine transactions for irregular or suspicious patterns.
• Support CTR and CTR exemption processes and assist with investigative case reviews including document retrieval, data formatting, internet and software research, and high-level analytical decision making. Perform enhanced due diligence (EDD) reviews when needed.
• Document standard operating procedures related to tasks and contribute to reporting efforts.
• Collaborate with internal bank teams and participate in 3rd party audits or reviews as required.
• Represent the bank professionally in both internal and external interactions and attend relevant training sessions.
• Work cooperatively with team members to meet organizational goals and fulfill additional duties as assigned.
• Be available for extended working hours beyond the typical Monday to Friday schedule, including potentially early mornings, late evenings, or weekends to meet regulatory demands.
• Occasionally travel to other bank locations or customer sites for training or visits.

Qualifications and Experience

• High school diploma or equivalent required; advanced education or CAMS certification is preferred.
• At least one year of retail banking experience handling transactions, new account setups, or retail operations; 1-2 years experience in AML/CFT or fraud detection preferred.
• Familiarity with federal banking regulations and prior use of FIS or similar banking platforms preferred.

Skills and Abilities

• Proficient in Microsoft Office applications, especially Word, Excel, and Outlook.
• Strong analytical and critical thinking skills to assess suspicious activity and make informed decisions.
• Effective communication abilities, both written and verbal.
• Excellent organizational and multitasking capabilities, with keen attention to detail.
• Ability to work independently within a fast-paced, high-volume environment.
• Demonstrated ability to build collaborative relationships and maintain confidentiality with a strong ethical foundation.