Senior Financial Intelligence Group Investigator I

S&T Bank

21d

About The Position

Assists the Financial Intelligence Group Senior Coordinator – High Risk Customer Team within the Security Department in ensuring that S&T Bancorp, Inc. (S&T) operates in conformity with federal and state laws, rules, and regulations related to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) rules, the USA PATRIOT Act, the Anti-Money Laundering Act of 2020, and the Office of Foreign Assets Control (OFAC) to protect S&T from legal/compliance, and transaction risk. In addition, assists the Financial Intelligence Group Officer (FIGO) with the FRAML (fraud and anti-money laundering) process to ensure integration of business unit and corporate procedures to prevent, detect, and mitigate risk related to money laundering, terrorist financing, and other financial crimes. Performs duties related to investigative and transaction monitoring functions, the scope of which includes the entire life cycle of detection of unusual and suspicious activity, ongoing monitoring, and preparation of federal government reporting for currency transactions and suspicious activities including, but not limited to, money laundering, structuring, terrorist financing, Identity theft, and fraud.

Requirements

Requires a four-year college degree or equivalent in Business, Legal Studies, Law Enforcement, or related major, plus specialized training or equivalent experience.
Responsible for possessing comprehensive specialized education on federal laws, regulations, and policies related to the BSA, AML rules, USA PATRIOT Act, OFAC, suspicious activity, Federal/state crimes, and any related compliance regulation.
Requires two to five years of specialized experience in AML, KYC, EDD, or a financial crime-related field or five plus years of generalized experience
Obtains and maintains the Certified Anti-Money Laundering Specialist designation or suitable equivalent(s).

Nice To Haves

Prefers CAMS designation from ACAMS

Responsibilities

Maintains and uses knowledge and understanding of relevant laws, rules, regulations, policies, and procedures that apply to position responsibilities. In addition, maintains knowledge of current money laundering, terrorist financing, and other financial crime methodologies and emerging trends.
Conduct enhanced due diligence (EDD) investigations on high-risk customers and high- risk geographies or industries.
Review and analyze customer identification documents, business structures, and sources of wealth/funds information.
Provides guidance to FIG Investigators on issues such as department procedures and acquisition of information and data in conducting investigations.
Researches, analyzes, and investigates suspicious activity cases involving money laundering, terrorist financing, and other financial crimes in accordance with S&T’s corporate policies and procedures and Federal regulations. Collects, evaluates, and analyzes pertinent information from other business units and external sources on suspicious activity. Prepares financial analysis of account activity on cases for submission to law enforcement agencies.
Assists in the development and execution of monitoring programs to identify risk, including control assessments, as directed. Assists the FIGO, and Financial Intelligence Group Senior Coordinator – High Risk Customer Team in communicating and ensuring corrective actions are taken for any identified procedural or training weakness in an effort to preclude regulatory violations.
Assists in the identification of risk considering the size, level, and complexity of the Bank’s operations; financial product and service offerings; and their delivery systems. Assists in ensuring that a seamless corporate-wide Fraud and Anti-Money Laundering (FRAML) process is in place that appropriately contains first and second lines of defense/control to prevent, detect, and mitigate financial crime risk. Such risk includes detecting, reporting, and recovering significant funds and working closely with the Security Department for security/information incidents.
Works with Business Units to ensure that FRAML-related compliance requirements and monitoring controls are included in business processes.
Assists the Financial Intelligence Group Senior Coordinator – High Risk Customer Team in providing targeted training to Bank staff for suspicious activity red flags, including but not limited to money laundering, terrorist financing, and other financial crimes.
Assists regulatory examiners and auditors during exams and audits as requested by department management.
Provides second-level review of SARs prepared by other FIG Investigators.
Assists in developing accurate reports that will be reviewed by senior management and management committees as assigned to identify AML/CFT and fraud-related trends and patterns to further mitigate risk.
Applies knowledge of regulatory guidelines and industry best practices in making recommendations to mitigate AML/CFT and financial crime risk.
Effectively uses computer tools including automated software monitoring applications in performing monitoring and reporting activities.
Exercises a high-level of accuracy, initiative, interpersonal skills, and confidentiality while performing tasks in order to contribute to the success of the department and the organization.
Maintains a good working relationship with all S&T employees and adheres to S&T’s Contributes. Demonstrates the ability to work independently and works as a team player to contribute to the success of the department and, in turn, the organization.
Performs additional duties as required.