Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) Analyst I (Hybrid)
About The Position
The Anti-Money Laundering (AML) Group protects UMB from being exploited for laundering money or financing terrorism by designing and overseeing a system of controls to detect and report this activity. This team oversees the bank’s compliance with requirements set forth in the Bank Secrecy Act (BSA) and the USA Patriot Act (USAPA) as well as sanctions set by the Office of Foreign Asset Control (OFAC). UMBFS BSA/AML Analyst I is an entry level position in the AML Division supporting the UMB Fund Services (UMBFS) AML program. The Analyst is responsible for learning how to perform analyses of customer, financial, and non-financial data in accordance with BSA/AML Division standards including accurate, complete, and timely documentation of each analysis. This role is hybrid working in our downtown Kansas City, MO corporate headquarters.
Requirements
- Associate’s Degree OR two years of industry relevant experience in previous operational, compliance, or fraud investigation roles.
Nice To Haves
- Brokerage including investment advisor, mutual fund transfer agency, or alternative administration experience.
- Knowledge of mutual funds and/or alternative investment funds.
- AML surveillance system navigation experience.
- Expert experience working with Microsoft Office suite.
Responsibilities
- Investigate customer transactions representing increased risk for money laundering or terrorist financing, primarily utilizing an automated surveillance system to report on the determination on these activities. This requires preparation of clear and concise dispositions on daily alerts and on reports.
- Perform customer relationship reviews based on new account opening, higher risk attributes, and/or other relationships identified by the EDD Manager or BSA/AML Officer. This requires preparation of clear and concise reports that detail the customer relationship and a statement of BSA/AML risk associated with that relationship.
- AML Risk Position may be responsible for assessing the effectiveness of existing controls performed by UMBFS transfer agency supporting the UMBFS BSA/AML program. This will also require testing to evaluate the quality of performance and documenting any gaps or performance deficiencies.
- Support the BSA/AML risk assessment process by confirming effectiveness of the control environment across UMBFS operations and/or by ensuring the quality of customer data within core systems.
- Responsible for first level disposition of OFAC and 314a suspects from batch reporting, as well as dispositions on business unit escalations for OFAC suspects.
Benefits
- Paid Time Off
- 401(k) matching program
- annual incentive pay
- paid holidays
- a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage
- health savings, flexible spending, and dependent care accounts
- adoption assistance
- an employee assistance program
- fitness reimbursement
- tuition reimbursement
- an associate wellbeing program
- an associate emergency fund
- various associate banking benefits
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
