Sr. Analyst High Risk EDD

Cathay Bank•Monterey Park, CA

About The Position

The Senior High Risk Enhanced Due Diligence (EDD) Analyst is responsible for reviewing systematic Anti-Money-Laundering (AML) alerts and Client Due Diligence (CDD) alerts and conducting annual High Risk Enhanced Due Diligence (EDD) reviews on high-risk consumer and commercial clients. The Senior High Risk EDD Analyst has an understanding of key topics within the high risk client lifecycle management process, including: Source of Wealth corroboration, negative news and adverse media screening, collection of required Ultimate Beneficial Owner (UBO) documentation, nature and purpose of account, monitoring/mitigating of potential suspicious transactions, changes in regulatory rules, recent trends and enforcement actions, peer group leading practices, client risk rating, other AML related red flags. This position requires strong ownership of the learning process, prioritization and substantial analytic skills, case management skills and an ability to drive positive change. This position requires sound judgment, attention to detail, and the highest degree of confidentiality and accuracy in the handling of information and in discharging responsibilities. Effectively and voluntarily takes on additional roles and responsibilities including participating in special projects; and working closely with branches and business lines.

Requirements

Minimum 3 years’ experience in BSA/AML Compliance including writing and preparing Suspicious Activity Reports (SARs) in accordance with applicable regulatory requirements or applicable experience
Proven ability to balance quality and quantity of reports
Strong knowledge of the laws applicable to money laundering, including Bank Secrecy Act, the USA PATRIOT Act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements
Strong understanding of banking products and services
Strong research skills including experience with online search tools
Strong proficiency in Microsoft Word, Excel, Access, PowerPoint and Outlook
Strong writing, analytical and communication skills
Able to multitask and complete projects on time, often on a tight deadline
Strong relationship building skills both internally and externally
Develops relationships within appropriate levels of management for issue identification and resolution.
Flexibility to adapt to changing priorities to meet business needs.

Nice To Haves

Bachelor's Degree in related fields of business or finance, preferred
Certified Anti-Money Laundering Specialist (CAMS) designation, preferred.

Responsibilities

Conduct comprehensive investigations of clients by utilizing CIP information, occupation, line of business, income methods, and transaction activity as identified by the AML Solution based on predefined risks.
Contact branches and business lines for clarification of client profile and/or account activity, as needed
Performs transaction analysis of several types of businesses and captures a strong understanding of account purposes
Prepares detailed High Risk EDD Reports for complex relationships and higher risk clients, including Politically Exposed Persons, Non-Bank Financial Institutions, Privately Owned ATM, Marijuana Related Businesses, etc, which include transactional analysis summaries and negative news findings utilizing using tools such as Internet search engines and other non-documentary search engines and AML solution.
Analyze system generated and manually created alerts for high-risk client review and suspicious activities.
Generated alerts, high-risk enhanced due diligence reports, and suspicious activity reports (SARs) must be completed according to established procedures.
Stay well-informed on current money laundering and terrorist financing behaviors, issues, criminal typologies, industry best practices, regulations, and developing trends