AML CFT Analyst - Downer's Grove

Position Overview

The AML CFT Analyst plays a critical role in identifying, assessing, and mitigating risks related to Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Office of Foreign Assets Control (OFAC) compliance. This position supports the BSA CFT Officer by conducting complex investigations, analyzing customer activity, and ensuring regulatory adherence. By relying on broad expertise and experience, the AML CFT Analyst will perform investigative and analytical evaluations of customer monitoring activities. The analyst is responsible for the final disposition of cases.

Essential Job Functions

• Investigate and adjudicate AML alerts using deep knowledge of AML/CFT/OFAC regulations and internal policies.
• Provide expertise and guidance to lines of business for simple to complex AML/CFT-related issues based on internal policy and regulatory expectations.
• Conduct various sensitive internal report reviews related to potential unusual activity, high risk customers (including MSB and ATM owners), and customers eligible for CTR exemption.
• Conduct Suspicious Activity Report (SAR) investigations and ensure timely, complete, and accurate filings.
• Maintain and review CTR exemption listings with periodic and annual updates, as approved by the BSA CFT Officer.

• Perform CIP and beneficial ownership validation and distribute weekly reports to lines of business.
• Responsible for reviewing, correcting, and creating (as needed) CTRs for submission; conduct follow up with lines of business as needed.
• Review grand jury subpoenas and prepare SAR referrals when appropriate.
• Perform enhanced due diligence (EDD) reviews of all high-risk customers, including reviews of account activity, CDD, etc. Work with relationship managers when EDD information is incomplete or needs updating.
• Assess BSA risk and review documentation for completeness and appropriateness for RDC/Wire/ACH commercial customers.
• Assist with AML system turning and optimization.
• Participate in special projects and perform other duties as assigned.

Secondary Responsibilities

• Investigate alerts of potentially suspicious activity from the AML monitoring system, including analysis of transaction activity and document conclusions in the AML system, as needed.
• Assist lines of business with research of potential OFAC matches, as needed.
• Stay abreast of and analyze developing industry and compliance trends, changes to laws and regulations pertaining to AML/CFT/OFAC.
• Serves as a resource for questions regarding BSA/OFAC policies and also provide BSA guidance to employee across various lines of business.
• The AML CFT Analyst does not have any supervisory duties.
• Comply with all Company policies and procedures.

Minimum Requirements

• Two or more years of college and two years of BSA /AML compliance experience; or equivalent combination of education and experience.
• Strong working knowledge of the bank policies and procedures, as well as federal regulations pertaining to OFAC, AML, CIP and EDD.

Competencies

• Proficient in using core banking software, BSA monitoring software such as Abrigo BAM+.
• Experience working in a fast-paced environment, with strong attention to deadlines and detail.
• Excellent interpersonal, communication (written and verbal) and organizational skills with the ability to work independently, as well as, collaboratively within a team environment.
• Interact effectively with all levels of management, law enforcement, regulators and examiners, while maintaining strict confidentiality.
• Proficient in using Microsoft Office software, including Word and Excel.
• Strong decision making, analytical and investigative abilities with attention to detail and accuracy.

Preferred, but not required

• Bachelor's degree in related area of study preferred.
• CAMS or other BSA/AML certification preferred.

NOTE: This job description is not intended to be all-inclusive. Employee may perform other duties as assigned to meet the ongoing needs of the organization.

Location Details:

This position is considered a hybrid role. With management approval, an incumbent may work a combination of remote and onsite work to perform the regular responsibilities of the role. Actual schedule requirements may vary based upon business needs.

Compensation & Benefits

Base pay: $62k-$80k

Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience.

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