Bank of the West BSA/AML Transaction Monitoring Investigator, Assoc II in Tempe, Arizona
BSA/AML Transaction Monitoring Investigator, Assoc II
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Who we are: The Corporate and Institutional Banking (CIB) L1 Transaction monitoring Unit is responsible for the investigation of suspicious activity alerts from the firm’s suspicious activity monitoring system, Actimize, and serves as the first line of defense for the Financial Intelligence Unit (FIU) for CIB. CIB L1 Transaction Monitoring is responsible for ensuring CIB complies with the Bank Secrecy Act (BSA) and the USA PATRIOT Act by monitoring transactional activity that flows through the firm to determine if alerted activity makes sense or whether further research is needed for the firm to consider if a suspicious activity report (SAR) is warranted to be filed with the Financial Crimes Enforcement Network (FinCEN).
Responsible to detect, review and escalate potentially suspicious activities filtered by various AML systems for money laundering and terrorist financing relating to Corporate, Institutional, and Correspondent Banking. Making determinations as to whether alerted activity makes reasonable sense for the customer/business type (non-referral) or if further research is needed (Case referral) and a suspicious activity report (SAR) filing is warranted on FinCEN reportable items in compliance with the Bank Secrecy Act and USA PATRIOT Act. In addition, this position may investigate external inquiries via Legal (subpoenas), internal investigations other groups (fraudulent instruments and inquiries), and capital markets related transaction activity. Ensure all reporting requirements are met in compliance with government regulations and bank BSA/AML policies and procedures. Responsible for meeting performance and quality KPI standards while working in a professional production environment.
Research, analyze, and investigate potentially suspicious Anti-Money Laundering/Counter Terrorist Financing (AML/CTF) activity based on a variety of AML Systems generated alerts from Corporate, Institutional, and Correspondent Banking transactional activity (which may include wire transfers, checks, security transactions, trade finance letters of credit, loans and cash letters).
Maintain production and performance standards when reviewing and analyzing automated alerts for potential suspicious activity
Prepare and thoroughly document factual and impartial findings in an accurate and timely manner for non-referred and referred alerts.
Determine if alerts can be closed as not suspicious or warrant further investigation and escalation to a case in the firm’s case management system.
As necessary, use available research tools (public internet sources as well as third party sites) to identify information concerning transactions warranting further investigation as a case.
Research past alerts and cases to see if previous investigations have taken place and what conclusions were made.
Request additional information by contacting various compliance or business personnel throughout the organization to determine if facts and circumstances surrounding unusual transactions warrant closure of the investigation as not suspicious or if escalation for further investigation is warranted.
Escalate unusual activity or lack of responsiveness to inquiries to the L2 Case Investigations team.
Document results of alert investigations in the firm’s case management tool and meet reporting requirements of both internal and external entities. Substantiate non-referral and referral decisions with documentation.
Actively participate in Team discussions, Committees, projects and proposals.
Assist in the creation, development and review of Compliance procedures.
Maintain a good understanding of BSA/AML regulations and FinCEN guidelines relative to Suspicious Activity Monitoring and Reporting as well as current money laundering/terrorist financing schemes and risk typologies, and investigative techniques required to detect such schemes and typologies.
Review anticipated activity of clients and compare with actual activity recorded in the system.
Prepare reports using Excel to display transaction flow of payments and/or other payment activities.
Assist in the coordination of list management within the monitoring system (country risk ratings; alternative country spellings and abbreviations; watch list; etc.).
Perform other duties as assigned or requested.
Bachelor’s Degree in Mathematics, Criminal Justice, Business, or related field.
ACAMS, CFE, CFCS, CFS certifications preferred.
Minimum of 3 years with BSA/AML compliance, and conducting and managing financial investigations and/or research such as in bank/brokerage operations, security, compliance, and legal areas including criminal and/or civil litigation, researching, comprehensive reporting & documentation, and pattern recognition..
- Alternative: Combination of education and experience that equates to these requirements.
Field of knowledge and Experience
Experience and knowledge of BSA/AML and Sanctions regulations and practices pertaining to suspicious BSA/AML-related customer activity.
BSA/AML experience at another financial institution preferred.
Experience with Corporate, Institutional, Correspondent Banking and Capital Markets is preferred.
Knowledge of investigative techniques including transaction analysis, evidence gathering and demonstrated research and/or pattern recognition skills, including use of online research tools and report writing
Experience with Actimize strongly preferred.
MS Word, Excel, PowerPoint skills required.
Strong capability with data analytics/manipulation programs and concepts.
Strong technical and analytical skills required.
Strong interpersonal skills
Strong written and verbal communication skills.
Strong attention to detail
Ability to follow specific goals and meet required deadlines
Ability to work independently and display initiative
Detailed planning and organizing skills
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.
Job: Bank Secrecy Act / Anti Money Laundering
Location: United States-Illinois-General IL
Other Locations: United States-Nebraska-Omaha, United States-Arizona-Tempe
Requisition ID: 059651