AML Investigator I

Valley Bank•Morristown, NJ

About The Position

This role is responsible for reviewing and analyzing alerts generated by the Bank's electronic monitoring software to determine if activity warrants further review. The investigator will research and analyze customer activity against KYC documentation and internal/external information sources, making recommendations for further investigation or SAR filing. Responsibilities include conducting suspicious activity investigations, drafting and filing Suspicious Activity Reports (SARs) with FinCEN, and managing complex cases involving multiple accounts, high-risk jurisdictions, and complex cash structuring schemes. The role also involves analyzing records from outside agencies, making recommendations for account closures, corresponding with employees and customers, preparing bank-wide AML guidance, and working with business units and management to ensure the monitoring platform addresses prevailing risks and supports daily compliance efforts.

Requirements

Knowledge of laws applicable to money laundering, to include the BSA, The USA Patriot Act, U.S. Treasury AML guidelines, OFAC requirements and Suspicious Activity Reporting requirements.
Strong verbal and written communication skills.
Superior organizational and analytical skills.
Strong time management skills.
Strong research skills.
Advanced skills in the use of Microsoft Word, Excel, Access, and Outlook.
Experience with online research systems including web-based tools.
Ability to maintain attention to detail and accuracy under pressure situations.
Team oriented and able to work independently.
Ability to prioritize and organize assignments.
High School Diploma or GED and a minimum of two years in banking operations or investigative law enforcement experience related to anti-money laundering.

Nice To Haves

Bachelors Degree preferred.
CAMS certification preferred.

Responsibilities

Review and analyze alerts generated by the Bank's electronic monitoring software to make a determination as to whether activity warrants further review.
Review and analyze internal AML reports, draw conclusions and make recommendations regarding the need for further investigation.
Research and analyze customer activity compared to KYC documentation and internal/external information sources and make recommendations regarding the need for further review and/or SAR filing.
Conduct suspicious activity investigations and determine whether a Suspicious Activity Report is needed.
Draft narrative for each case substantiating the decision/recommendation.
Draft and file Suspicious Activity Reports with FinCEN.
Manage complex cases involving matters such as multiple relationship accounts, international wires involving Bank-designated high risk jurisdictions, and complex cash structuring schemes.
Identify and analyze records of outside agencies to facilitate investigations including credit bureau records, police and court records.
Make recommendations for closing customer accounts/relationships based on investigation.
Correspond with employees and customers in connection with matters such as structuring.
Prepare bank wide guidance on AML matters.
Work with the business and AML Investigations to understand and resolve potential AML monitoring issues.
Work with the AML management team to ensure the monitoring platform consistently addresses prevailing risk.
Support management in the day-to-day compliance efforts with AML/KYC requirements.
Analyze, plan and complete special projects assigned by the AML management.