Financial Crimes Specialist

Merchants Bank•Hastings, MN

5d•Onsite

About The Position

Merchants Bank is seeking a Financial Crimes Specialist. This on-site position can be worked out of any Merchants Bank location in MN and WI with office space available. Hours will vary between 7:30am - 5:00pm Monday through Friday. This position supports the bank’s Bank Security Act / Anti-Money Laundering (BSA/AML) and fraud mitigation programs that maintain compliance with regulatory requirements and the bank’s policies and procedures. Duties include reviewing alerts from multiple sources and transaction information to identify financial crimes and unusual behavior. Also responsible for working with Currency Transaction Reports, monitoring the customer due diligence program, and assisting with gathering information. Will handle sensitive matters and collaborate with others. Must have excellent interpersonal and communication skills, ability to prioritize work and meet deadlines, be organized and detail orientated, and have sound judgment. A strong knowledge of the Bank Secrecy Act desired. Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options. Please click on Apply Now or apply in person at any Merchants Bank location. Questions can be emailed to [email protected]. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities. General Summary: This position supports the bank’s BSA/AML and fraud mitigation programs that maintain compliance with regulatory requirements and the bank’s policies and procedures. Must be knowledgeable of our AML/fraud software, Verafin, to monitor for money laundering, fraud, and other suspicious activity within customer’s accounts. Must adhere to strict timing for reviewing alerts and creating cases. Will also be responsible for CTR completion, OFAC monitoring, MIL, 314(a), and other reporting for Bank Secrecy Act duties. This position is also responsible for administering the bank’s BSA due diligence program. Perform any duties necessary, within scope of authority and expertise, to provide the highest level of services and responsiveness to bank staff and customers.

Requirements

0-2 years of experience in the banking or financial services industry
Accountable for demonstrating 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 essential
Strong analytical and problem solving skills
Detail oriented, accurate with good organizational skills
Ability to learn and react quickly if information is needed
Ability to work with items of a highly sensitive and/or confidential nature
Ability to work independently and as part of a team
Ability to use sound judgment and handle difficult situations with professionalism and discretion, knowing when to escalate to management
Demonstrate self-motivation and present a resourceful work ethic
Excellent interpersonal skills required, including strong verbal and writing skills
Proficient in Microsoft Office products

Nice To Haves

Self-motivated individual that works well with a team or individually as necessary.
Personable, interacts well with customers and co-workers.
Strong knowledge of the Bank Secrecy Act desired.

Responsibilities

Reviews alerts from multiple sources and transaction information to identify financial crimes and unusual transaction behavior.
Applies decision making skills to take appropriate action and escalate to a case as needed.
Documents support for conclusions reached.
Assists with preparation and maintenance of Currency Transaction Reports and the Monetary Instrument Log
Examines current CTR exemptions and recommendations for new exemptions
Investigates customer screening reports for OFAC and 314(a) and input data when needed
Monitors the bank’s customer due diligence program for accuracy and completeness
Assist with annual OCC MLR data scrubs
Must be able to take meeting minutes for various department meetings
Handles sensitive and escalated matters with discretion
Collaborate and consult with peers, managers, and internal and external customers to analyze necessary information, resolve incoming inquiries, and achieve goals
Complies and maintains knowledge of all applicable bank policies, procedures, and government regulations including the BSA
Escalation of technical issues to the appropriate staff
Regular and dependable attendance is an essential function of this job
Expected to contribute to a positive working environment through words and actions
Expected to take responsibility to ensure that internal and external customers receive outstanding service
Expected to complete compliance and product knowledge assignments timely
Employee may be asked to perform other duties as required by business needs