Financial Crimes Specialist

Merchants Bank•Winona, MN

1d•$23 - $27•Onsite

About The Position

The Financial Crimes Specialist supports Merchants Bank’s Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and fraud mitigation programs to maintain compliance with regulatory requirements and bank policies and procedures. The specialist may focus on fraud, BSA, or a combination of both, and uses the bank’s Verafin AML/fraud software to monitor customer accounts for money laundering, fraud, and other suspicious activity. The role involves timely triage of alerts and suspicious-activity reports, escalating cases as needed, documenting conclusions, and providing responsive service to bank staff and customers. The position also supports investigations and BSA-related processes, including Currency Transaction Reports, customer due diligence, customer screening, and annual OCC MLR data scrubs. It requires discretion when handling sensitive matters and collaboration with colleagues, managers, and internal and external customers. The position is based on-site at the Winona or Rochester, Minnesota locations, with hours Monday through Friday between 8 a.m. and 5 p.m.

Requirements

0–2 years of experience in the banking or financial services industry.
Working knowledge of Fraud and BSA/AML rules and 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 and know when to escalate to management.
Self-motivation and a resourceful work ethic.
Excellent interpersonal skills, including strong verbal and writing skills.
Proficiency in Microsoft Office products.

Nice To Haves

Self-motivated and able to work well with a team or individually as necessary.
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; determine appropriate action, escalate cases as needed, and document supporting 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 preparing and maintaining Currency Transaction Reports and the Monetary Instrument Log.
Examine current Currency Transaction Report exemptions and make recommendations for new exemptions.
Investigate customer screening reports for OFAC and 314(a), and input data when needed.
Monitor the customer due diligence program for accuracy and completeness.
Assist with annual OCC MLR data scrubs.
Take meeting 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.
Maintain regular and dependable attendance and contribute to a positive working environment.
Help ensure internal and external customers receive outstanding service and complete compliance and product knowledge assignments on time.
Perform other duties as required by business needs.