AML Analyst

Royal Bank of Canada • Minneapolis, MN

81d • $50,000 - $85,000

About The Position

This position supports the AML Compliance function by executing various processes that maintain compliance with regulatory requirements and the firm's AML Program.

Requirements

• 2+ years of experience in a broker-dealer/financial services/banking environment, with specific experience in AML, Compliance, or RBC Operations.
• Bachelor's degree, preferably in business, finance, accounting, or criminal justice.
• FINRA Series 7 & 63 or 66, or willingness to obtain.
• Knowledge of regulatory/compliance risk management and AML related requirements including BSA, USA PATRIOT Act, OFAC, and other applicable U.S. regulations.
• Possess an understanding of the financial services industry, AML related regulations, and patterns of behavior that represent suspicious activity.
• Knowledge of the securities industry and how it can be used for money laundering in order to provide effective guidance to other members of the department.
• Excellent communication and interpersonal skills.
• Advanced computer skills - previous experience with databases and querying capabilities a plus.
• Ability to prioritize and manage multiple tasks while ensuring that assigned job responsibilities are met.
• Ability to understand and efficiently analyze information from multiple sources.
• CAMS designations preferred.

Responsibilities

• Demonstrate industry, product, and process knowledge within area/department and to other areas within the firm.
• Conduct surveillance and investigative work to ensure the firm's AML Program stays within expected parameters.
• Understand regulatory and firm risks associated with work processes, how work is processed from beginning to end, and dependencies to other areas and departments.
• Provide enhanced customer service, process/data analysis, and problem solving within the area/department.
• Handle sensitive and escalated matters with discretion.
• Review and investigate alerts created from both automated and manual detection sources.
• Review client patterns from referrals, often relating to heightened issues, and other manual sources to identify situations requiring additional investigation.
• Utilize information found on internal systems (BETALink, Salesforce, ClientSource, PostEdge, etc.) as well as in the public domain to complete client and activity analysis and make informed conclusions.
• Initiate communication and escalate situations as necessary, engaging personnel within Compliance, Private Client Group, Clearing & Custody, and/or home office operations.
• Prepare concise, yet thorough, investigation summaries outlining relevant details to support a final outcome.
• Complete accurate Suspicious Activity Reports for timely submission to FinCEN.
• Apply logic and AML knowledge to investigations on a case-by-case basis, recognizing the subjective nature of each individual situation.
• Review scanning alerts to identify and mitigate both AML and sanctions risk.
• Proactively identify and recommend improvement opportunities related to department processes, procedures, and the firm's AML Program.
• Identify and communicate department guidelines, assist in building controls, and participate in data analysis, testing, and transaction monitoring alert reviews.
• Assist in the creation and amendment of job aids, policies, and procedures to ensure compliance and efficient practices.
• Participate in regulatory or audit documentation gathering, preparation, and analysis.

Benefits

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree