LCD - Level 1 Alert Monitoring Associate
About The Position
The Level 1 Alert Monitoring Associate is primarily responsible for reviewing different types of alerts generated (e.g. on intermediary wires, foreign correspondence banks, and or other unusual activity), via transaction monitoring systems, for potentially unusual and or suspicious activity as it relates to the Bank’s risk appetite and policies. They will maintain all supporting documents to substantiate ultimate conclusion/decision. They will be adhering to and complying with bank policies and procedures, all applicable laws and regulation guidance, and to fulfill the departmental deliverable and regulatory expectations.
Requirements
- Bachelor's degree is required
- 1-3 years of financial institutions and/or BSA/AML Compliance Related field experience is required
- Transaction monitoring experience (prefer experience with correspondent banking/intermediary wires) including alert review, case investigation, knowledge of BSA and AML background (Red Flags/Typologies) required
- Knowledge of U.S. Banking regulations and compliance practice, compliance risk management, and BOC Risk Governance Framework with strong emphasis on all aspects of BSA, AML and OFAC.
- Demonstrate ability to implement the bank’s policies and procedures required
Responsibilities
- Transaction Monitoring Alert Review
- Alert Due Diligence/Alert Research
- Documentation Review generated alerts (including Mantas alerts, Compensating Control alerts and other ad hoc alert types) for unusual financial transactions and to determine whether further investigation is warranted
- Complete all the transaction monitoring within the required timeframe, and ensure completion with both work quality and quantity
- Conduct due diligence through internal systems and external sources, collecting and uploading transaction documents to the system, and documenting the reason for the alert disposition to waive close or escalate potentially suspicious activity to L2 Team for further investigation
- Maintain an active communication with the QA analysts/senior analyst or team lead for guidance during the transaction monitoring period
- Maintain alerts are fully review and document, including supporting data, analysis, narrative and rationale for disposition, within the case management system
- Report and/or escalate any unusual transaction(s)/activity to L2 team with fully documented
- Perform additional tasks and projects as directed by the Team Lead
- Attend trainings that were provided by the bank or external resources to keep self-abreast with the update laws and regulation guidance in relate to AML/BSA field and be able to apply to the daily job obligation
- Ensure compliance with BSA/AML related laws and regulations and identify matters of noncompliance and escalates them as necessary for resolution
- Receive cross training between functional teams (DC/IW/CB) within Level 1 Alert Monitoring team to enhance skill set for professional development
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
