AML Investigator

Lake Michigan Credit Union•Grand Rapids, MI

1d•Onsite

About The Position

The Anti-Money Laundering (AML) Investigator is responsible for ensuring adherence to Bank Secrecy Act (BSA) through transaction monitoring, investigation of suspicious activity, and the drafting of Suspicious Activity Reports (SARs), as well as identifying and monitoring high risk activity and high-risk accounts. Makes recommendation to file SARs to the BSA Officer and documents findings. Maintains documentation to ensure compliance with the Bank Secrecy Act and supports all elements of BSA, AML, USA, PATRIOT Act and Office of Foreign Assets Control (OFAC) requirements and in accordance with credit union policies and procedures.

Requirements

Previous compliance experience, preferably in BSA / AML.
Two or more years in a banking environment.
A two-year college degree or completion of a specialized course of study at a business or trade school equivalent to approximately 64 credit hours.
Analytical/Investigative skills to understand expected activity for individual members/member entities.
Highly organized with attention to detail to ensure full and complete review of member alert and database of reviews/trends.
High degree of accuracy and detail-oriented.
Knowledge of financial crimes and how they are perpetrated.
Understanding of businesses and anticipated or expected transactions for business accounts.
Proficient computer skills including experience using software systems and MS applications, ability and willingness to understand and apply additional software and regulatory reference materials.
Ability to work in a collaborative environment as well as independently, able to self-initiate activity review and research.
Effective time-management skills and the ability to prioritize multiple tasks with competing timelines (multitask).
Demonstrated knowledge of banking, including internal structure of credit union and elements of credit union operations and service.
Demonstrated in-depth knowledge of the Bank Secrecy Act and AML rules and regulations.
Strong ability to understand specific BSA/AML, recognize solutions to mitigate risks and adapt to automation or other changes as implemented.
Must have good working knowledge of Symitar, Application Extender/OnBase, and Image Center.

Responsibilities

Utilize standard procedure and independent judgment to investigate and analyze customer account activity in a timely manner.
Review suspicious activity alerts from a variety of sources, including but not limited to: AML monitoring software, referrals from branches and back-office "member facing" departments, and other BSA teammates, to accurately distinguish suspicious activity from false positive alerts.
Create well documented and organized findings to write justification summaries for false positive decisions made.
Use well documented and organized findings to make recommendations to BSA Management regarding the filing of SAR cases.
Prepare all aspects of documentation retention and SAR form for review for submission to FinCEN, which includes accurately and concisely explaining customer and activity in narrative form.
Use AML software to investigate, rate, and monitor high risk members and/or high-risk activity based on LMCU's risk appetite.
Document well organized findings according to procedure.
Maintain and update personal knowledge of AML rules, regulations, laws, and best practices.
Performs other tasks or duties as needed to support AML/BSA/Compliance team.