Financial Crimes Specialist

Merchants Bank•Winona, MN

23h•Onsite

About The Position

Merchants Bank is seeking a Financial Crimes Specialist to support its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and fraud mitigation programs and maintain compliance with regulatory requirements and bank policies and procedures. The position may specialize in fraud, BSA, or a combination of the two. It requires knowledge of the bank’s AML/fraud software, Verafin, to monitor customer accounts for money laundering, fraud, and other suspicious activity. The specialist triages alerts and reports of suspicious activity, escalates cases as needed, and provides responsive service to bank staff and customers. This is an on-site position based in Winona or Rochester, Minnesota. The schedule is Monday through Friday between 8 a.m. and 5 p.m. Work is performed primarily at a desk, with little or no discomfort from environmental factors and some potential mental or visual fatigue from researching complex systems issues. The position involves contact with Merchants Bank employees and requires knowledge of department functions and bank services, as well as the ability to work independently on assigned projects and carry out existing policies and procedures.

Requirements

0–2 years of experience in the banking or financial services industry.
Working knowledge of fraud and BSA/AML rules, as well as the bank’s systems, products, and services.
Ability to prioritize work, meet multiple deadlines, achieve goals, and work under pressure in a dynamic and complex environment.
Sound judgment and decision-making skills.
Strong analytical and problem-solving skills.
Detail-oriented, accurate, and organized.
Ability to learn and react quickly when information is needed.
Ability to work with highly sensitive and confidential matters.
Ability to work independently and as part of a team.
Ability to handle difficult situations professionally and discreetly, including knowing when to escalate to management.
Self-motivation and a resourceful work ethic.
Excellent interpersonal skills, including strong verbal and written communication.
Proficiency with Microsoft Office products.
Knowledge of the Bank Secrecy Act, money laundering, and other types of account fraud.
Ability to carry out existing policies and procedures.

Nice To Haves

Self-motivated and able to work well with a team or independently as needed.
Personable and able to interact well with customers and co-workers.

Responsibilities

Review alerts from multiple sources and transaction information to identify financial crimes and unusual transaction behavior; decide on appropriate action, escalate cases as needed, and document the basis for conclusions.
Manage incoming Financial Crimes communications, determine whether escalation is appropriate, and document information for analysts and investigators.
Assist Financial Crimes Analysts and Investigators with ongoing investigations.
Assist with preparation and maintenance of Currency Transaction Reports (CTRs) and the Monetary Instrument Log.
Examine current CTR exemptions and make recommendations for new exemptions.
Investigate customer screening reports for OFAC and 314(a), and enter data when needed.
Monitor the customer due diligence program for accuracy and completeness.
Assist with annual OCC MLR data scrubs.
Take minutes for department meetings.
Handle sensitive and escalated matters with discretion.
Collaborate with peers, managers, and internal and external customers to analyze information, resolve inquiries, and achieve goals.
Comply with and maintain knowledge of applicable bank policies, procedures, and government regulations, including the BSA.
Escalate technical issues to appropriate staff.
Attend dependably and contribute to a positive working environment and outstanding internal and external customer service.
Complete compliance and product knowledge assignments on time.
Perform other duties as required by business needs.