AML/CFT Specialist I

Reports To - AML/CFT Director

Department - Risk Management - AML/CFT

FLSA Status - Non-Exempt

PURPOSE OF POSITION

The AML/CFT Specialist will support the daily management of all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Office of Foreign Assets Control (OFAC) program management.


OVERALL DUTIES AND RESPONSIBILITIES

• Make procedural recommendations for Retail Banking and Deposit Operations. Assists the AML/CFT Director in coordinating procedural changes with branch offices and other departments within the bank.
• Assist bank employees by answering questions, resolving problems/issues, and assisting with complex matters related to AML/CFT.
• Maintain current knowledge of AML/CFT regulations, the Bank Secrecy Act, the USA Patriot Act, OFAC and other related regulations.
• Review system generated alerts for suspicious or unusual activity and escalate findings as needed.
• Conduct preliminary investigations related to potential SAR filings and make recommendations to the AML/CFT SAR Committee.
• Support Enhanced Due Diligence (EDD) reviews for higher-risk customers under guidance from AML/CFT Director.
• Attends training regularly to broaden knowledge about AML/CFT and related regulations.
• Other AML/CFT duties include:
  1. Currency Transaction Reporting
  2. Monetary Instrument Reporting
  3. Review CTR exemptions and maintain proper records to support exempt status.
  4. Process Subpoenas & Summons
  5. Review new consumer and business accounts for CIP compliance and risk.
  6. Approve OFAC matches as needed.

AML/CFT SPECIALIST LEVEL I, II, and III

LEVEL I DUTIES AND RESPONSIBILITIES IN ADDITION TO THE ABOVE

• Review new accounts for CIP and account documentation - Commercial and Consumer.
• Assist front line branch personnel by providing CIP documentation guidance and assistance.
• Assist in preparing and filing Currency Transaction Reports (CTRs).
• Review CTR exemptions and maintain proper records to support exempt status.

LEVEL I QUALIFICATIONS

• College degree preferred.
• Broad banking experience; minimum of 1 year.
• Working knowledge of banking laws and regulations pertaining to BSA/AML/CFT.
• Ability to attain a professional BSA/AML certification, if not already achieved.
• Ability to organize tasks and work with minimal supervision.
• Excellent oral and written communication skills.

LEVEL II DUTIES AND RESPONSIBILITIES IN ADDITION TO THE ABOVE

• Assist in resolving potential OFAC matches and know the correct actions for a genuine match to a name on the lists.
• Provide training to employees in other departments to achieve understanding of AML/CFT requirements and bank policy and procedures.
• Provide guidance and support for junior departmental employees.

• Supports the AML/CFT department with the following tasks:
  1. Review CTR exemptions and maintain proper records to support exempt status.
     1. Monitor YellowHammer BSA, including monthly worklists and semi-annual risk rating.
     2. Monitor suspicious activity through various reports and software applications.
     3. Maintain SAR logs.

LEVEL II QUALIFICATIONS

• College degree preferred.
• Extensive banking experience; minimum of 4 years.
• Thorough knowledge of banking laws and regulations pertaining to AML/CFT.
  • Ability to read, comprehend, and analyze regulatory guidance.
  • Attainment of professional AML/CFT certification, if not already achieved.
  • Ability to organize tasks and work with minimal supervision.
  • Excellent oral and written communication skills.

LEVEL III DUTIES AND RESPONSIBILITIES IN ADDITION TO THE ABOVE

• Act as back-up for the AML/CFT Director.
• Oversee the AML/CFT Department in the AML/CFT Director's absence.

• Communicate with the branch managers regarding customer activities.

• Assist the AML/CFT Director in completing the following AML/CFT related tasks:
  1. Monitor Yellowhammer BSA including monthly worklists, semi-annual risk rating, etc.
  2. Monitor suspicious activity through various reports and software applications.
  3. Complete 314a reports and recordkeeping.
  4. Resolve potential OFAC matches and know the correct actions for a genuine match to a name on the lists.

LEVEL III QUALIFICATIONS

• College degree required.
• Extensive related banking experience; minimum of 7 years.
• Thorough knowledge of banking laws and regulations pertaining to AML/CFT.
  • Ability to read, comprehend, and analyze regulatory guidance.
  • Possession and maintenance of professional AML/CFT certification; CAMs preferred.
  • Ability to organize tasks and work with minimal supervision.
  • Excellent oral and written communication skills.

OVERALL SKILLS

• Microsoft Office proficiency.
• Comfort working in an electronic office environment.
• Ability to write cohesively and professionally.
• Strong computer skills.
• Ability to work across departments providing elevated customer service.
• Comfort with interactions with mid-level and upper management.
• Ability to work with highly confidential and sensitive information.

PHYSICAL ABILITIES

This is primarily a sedentary position that includes frequent standing, crouching, reaching, and pulling motions. Requires computer input with some repetitive motions. Requires light lifting and moving of up to twenty pounds.


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This job description in no way implies that these are the only duties to be performed by the employee occupying this position. Employees will be required to perform any other job-related duties assigned by the supervisor. All requirements are subject to possible modification to reasonably accommodate individuals with disabilities.

Century Bank is an Equal Employment Opportunity/Affirmative Action employer and does not discriminate on the basis of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age or veteran status.