AML/CFT Compliance Associate Co-Op

Northern Bank • Woburn, MA

1d • $20 - $22

About The Position

Northern Bank is a privately held and family run business with corporate headquarters located in Woburn, Massachusetts. The Anti-Money Laundering / Countering the Financing of Terrorism (“AML/CFT”) Compliance team operates as a critical component of the bank’s independent risk management department, serving as the second line of defense. The team has a primary focus of overseeing the bank’s financial crimes program including anti-money laundering (“AML”), Bank Secrecy Act (“BSA”) compliance, Office of Foreign Asset Control (“OFAC”) compliance, and related programs. The team plays a pivotal role in safeguarding the bank’s integrity, reputation, and regulatory compliance relating to anti-money laundering and sanctions compliance. In this role, you will perform quality control of the bank’s first line of defense, and review reporting under the Bank Secrecy Act and bank’s sanctions compliance program. You will work with the AML/CFT Compliance Manager to monitor the functioning of the bank’s anti-money laundering (AML) and countering the financing of terrorism (CFT) program.

Requirements

• Working towards a degree in criminal justice, accounting, political science, or another related field (undergraduate).
• Strong analytical and decision-making skills; organizational skills.
• Proficient in Microsoft Office Suite (Word, Excel, PowerPoint)
• Self-starter with initiative and intellectual curiosity.
• Ability to work independently.
• Detail-oriented.

Responsibilities

• With guidance from the AML/CFT Compliance Manager, perform quality control testing of first line of defense customer identification program and beneficial ownership reviews.
• Develops an understanding of anti-money laundering and the countering of terrorist financing and the roles banks play in assisting law enforcement.
• Engage in reviews regarding compliance with FinCEN 314(a) program.
• Assist with transactional testing of core data to the transaction monitoring software.
• Complete data uploads for analysis to the transaction monitoring software.
• Performs work independently within scope of established guidelines and procedures.
• Consults with the AML/CFT Compliance Manager if clarification and assistance are needed to ensure work is performed efficiently and effectively while learning on the job.
• Provides occasional support to the Compliance Officer on ad hoc tasks and contributes to the execution of departmental projects.

What This Job Offers

• Career Level: Intern