ML Title 31 Compliance Specialist FT/DA $20 to $30

Mille Lacs Corporate Ventures • Onamia, MN

15d • $20 - $30 • Hybrid

About The Position

The Title 31 Compliance Specialist plays a critical role in ensuring the casino's compliance with Bank Secrecy Act (BSA) regulations and Anti-Money Laundering (AML) guidelines. This role focuses on monitoring, detecting, and reporting suspicious activities, ensuring customer due diligence (CDD) and know your customer (KYC) requirements are met, and investigating the source of income (SOI) for transactions that may indicate illicit activity.

Requirements

• Minimum of a high school diploma or GED required.
• Two (2) years of experience in finance, accounting, business administration, or five years in casino operations.
• Strong understanding of Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations, guidelines, and best practices.
• Must be able to secure license from Gaming Regulatory Authority (GRA).
• Responsible for following all relevant Detailed Gaming Regulations (DGR’s).
• Excellent proficiency in Microsoft Office Suite (Word, Excel, Outlook) and general ledger applications.
• Strong analytical, investigative, and problem-solving skills.
• Excellent written and verbal communication skills with interpersonal effectiveness.
• Ability to work independently and collaboratively in a fast-paced environment.
• Exceptional attention to detail and accuracy in documentation and reporting.

Nice To Haves

• Mille Lacs Band Member and American Indian preference will be exercised in the hiring process.

Responsibilities

• Examine financial transactions to ensure they comply with the Currency Transaction Report (CTR) and Suspicious Activity Report (SAR) requirements.
• Identify transactions that meet specific criteria requiring reporting to the Financial Crimes Enforcement Network (FinCEN).
• Maintain detailed records of all reviewed transactions, ensuring that documentation is accurate, complete, and readily available for potential audits or regulatory examinations.
• Ensure that all necessary forms, such as CTRs and SARs, are properly completed, filed, and retained as per regulatory guidelines.
• Monitor casino transactions and activities for any unusual patterns or behaviors that may indicate money laundering, fraud, or other illicit activities.
• Conduct thorough investigations of flagged transactions or activities to determine their legitimacy.
• Prepare SARs for upper management to file with FinCEN when necessary.
• Collect and verify customer information to ensure compliance with CDD requirements.
• Continuously monitor customer transactions and relationships for any changes or inconsistencies that may require enhanced due diligence.
• Maintain updated customer records and documentation to support KYC and CDD processes.
• Use KYC procedures to identify and verify the identity of casino patrons and other customers.
• Review and validate customer identification documents, such as identification cards, passports, and W9s.
• Ensure that KYC procedures are followed during customer onboarding and ongoing monitoring processes.
• Investigate and analyze the source of funds used in significant or suspicious transactions.
• Review financial statements, bank records, and other relevant documentation to verify the legitimacy of customers' income sources.
• Identify and report any discrepancies or red flags related to the source of funds, ensuring compliance with AML regulations.
• Collaborate with internal departments, such as finance, and operations, to ensure consistent application of BSA/AML policies and procedures.
• Work with others in department and cross property when needed on projects, daily audits, and any other responsibilities needed.
• Communicate findings, recommendations, and updates to Title 31 Compliance Officer.
• Participate in internal and external audits, examinations, and reviews related to BSA/AML compliance.
• Perform other departmental duties as assigned to contribute to the overall success and efficiency of the team.

Benefits

• A variety of competitively priced health benefits and supplemental insurances, parental leave, 401k, tuition reimbursement, birthday, and anniversary gifts.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED