AML & Fraud Programs Associate Specialist

Northern Trust•Chicago, IL

1d•Onsite

About The Position

The Wealth Management Enterprise Risk and Regulatory Control Team, part of the Wealth Management Business Unit Control Function, is responsible for the development, collection and reporting of risk and control metrics, and Fraud, AML and Regulatory Change Management for the Wealth Management Division. The Anti Money Laundering (“AML”) and Fraud Program Analyst is responsible for supporting the AML Lead and Fraud Lead with various tasks including: AML governance monitoring, AML training, supporting NT partners with completion of complex due diligence and periodic reviews, implementation of fraud awareness campaigns, completing fraud risk assessments, root cause analysis and presentation of fraud metrics to key stakeholders and assisting with fraud incident research and implementation of fraud control enhancements. This role involves understanding AML requirements, systems, and processes as well as detection, prevention, and mitigation of internal and external fraud risks, and requires independent and collaborative work on moderately complex projects.

Requirements

Bachelor's degree in a relevant field.
3-4 years of related experience in fraud analysis and/or Anti-Money Laundering processes.
Strong analytical, research, and problem-solving skills.
Excellent communication and documentation abilities.
Enjoys working with others in person, via calls, and email.
Organized and able to handle multiple tasks/projects simultaneously.
Detail-oriented and thorough, ensuring all aspects of a task/project are completed properly.
Ability to work independently and collaboratively on projects.
Knowledge of AML and fraud detection tools and techniques.
Understanding of internal and external control frameworks and risk mitigation strategies.
Microsoft Office 365
Experience with fraud and AML third party systems, preferably Actimize and Verafin.

Responsibilities

Support NT partners in the completion of AML required processes.
Review AML metrics and report any exceptions to the AML Lead and other key business partners.
Research and analyze potential fraud cases to identify patterns and prevent future fraud.
Detect and prevent fraudulent transactions using various research methods.
Prepare summaries and reconciliations in Microsoft Word, Excel, PowerPoint or other applications as needed.
Review and respond to complex fraudulent support requests.
Identify areas requiring enhanced fraud mitigation procedures or software to protect client assets.
Evaluate internal processes to identify control weaknesses, assess the potential for loss and make recommendations to strengthen controls.
Develop recommendations to remediate and mitigate loss.
Provide training and guidance to partners on fraud, red flags and AML requirements.

Benefits

retirement benefits (401k and pension)
health and welfare benefits (medical, dental, vision, spending accounts and disability)
paid time off
parental and caregiver leave
life & accident insurance
other voluntary and well-being benefits
discretionary bonus program that may include an equity component
flexible and collaborative work culture
career mobility
work-life balance