AML Monitoring Analyst II
Pacific Premier Bank
- Irvine, CA
- Permanent
- Full-time
- Review and analyze assigned automated transaction alerts produced from the bank’s AML monitoring system. Conducts sufficient analysis of the customer patterns and activities in order to Provide clear written statement supporting disposition decision and documentation within the AML software.
- Meet productivity and quality expectations.
- Reviews assigned watchlist filtering alerts and assesses the probability of actual customer matches using various investigative tools and research.
- Review bi-weekly FinCEN 314(a) alerts, as well as any special 314(a) postings by FinCEN. Review and research all applicable Watch List Alerts, document findings, notify management of any positive matches, and report to FinCEN as required.
- Performs OFAC research to determine if alert is a true match or false positive. Ensures any true matches to any of the Bank’s screening lists are appropriately escalated to the BSA Officer for further action (e.g., blocking, freezing, reporting to OFAC, etc.) As assigned, may act as liaison with OFAC as needed for guidance or instructions for handling potential OFAC matches.
- Reviews PEP watchlist alerts and performs research to document findings and notify management of true positive matches to ensure compliance with the Bank’s PEP Policy and procedure.
- Following established procedures and using system reports, reviews cash transaction for potential Currency Transaction Reporting (CTR). Responsible for preparing and filing CTRs, ensuring transactions are appropriately aggregated and reported to FinCEN.
- Identify customers that may qualify for CTR exemption.
- Performs data validation checks from established reports to ensure data from the core system is properly ingested into the AML software. Notifies management should any unanticipated discrepancies in the data be noted on reports.
- Manually enters data that is not captured electronically, may include making necessary corrections to data in the AML software, when necessary.
- Reviews Monetary Instrument Log (MIL) information entered by the branches via Horizon and communicates with branches to accurately complete the log, as needed.
- Review and document other monitoring reports as needed.
- Maintains a deep and thorough understanding of money laundering and financial crime typologies/red flags and terrorist financing typologies and red flags as well as a thorough understanding of various predicate offenses to money laundering and is able to apply those concepts to the analysis of customer transaction activity and behavior to identify activity consistent with the typologies.
- Maintains a thorough understanding of the BSA/AML suspicious activity detection requirements, USA PATRIOT Information Sharing 314(a)(b), and OFAC Sanctions compliance requirements. Has appropriate understanding to know when to escalate cases to the AML Monitoring and Operations Manager, Director of BSA Operations or Chief BSA Officer as appropriate.
- Keeps management apprised of issues or emerging risks.
- Participates in ongoing training to maintain current knowledge of BSA/AML and OFAC new and emerging money laundering and financial crime typologies and risks as well as regulatory requirements.
- Keeps abreast of Bank policy, procedure, systems, products and services. Monitors industry trends relative to money laundering or fraud schemes including detection and reporting of suspicious activity.
- Other related duties as assigned.
- 3 years banking experience required.
- 2 years BSA experience required.
- Certified Anti-Money Laundering Specialist (CAMS) or equivalent current professional certification(s) preferred.
0 years: Must have a functional understanding of anti-money laundering legislation specifically related to Suspicious Activity Reporting
0 years: Must be organized with the ability to meet deadlines with the highest level of accuracy.
0 years: Able to recognize transaction activity for trends and patterns associated with complex typologies for financial crime, money laundering and terrorist financing and/or predicate offenses to money laundering to ensure compliance with the BSA/AML, USA Patriot Act, and OFAC.
0 years: Must have advanced knowledge of banking and the applicable AML regulations.
0 years: Must have experience in fast-paced, time sensitive environment.
0 years: Certified Anti-Money Laundering Specialist (CAMS) or equivalent current professional certification(s) preferred.
2 years: BSA/AML Department Experience
3 years: Retail Banking experience