AML CFT Specialist

Position Overview

This entry level position is responsible for assisting the AML CFT Officer with the Bank’s mitigation of the Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Office of Foreign Assets Control (OFAC) risk. The AML CFT Specialist will review basic account criteria against an established set of parameters in order to determine ultimate disposition of assigned alerts.

Essential Job Functions:

• Assist with supporting the Bank in the comprehensive end-to-end processes of the AML/ CFT/OFAC program.

• Provide support to lines of business for AML CFT-related issues.

• Investigate alerts of potentially suspicious activity from the AML monitoring system, including analysis of transaction activity and document conclusions in the AML system.
• Prepare customer activity analysis documentation and written recommendations for potential suspicious activity reports (SARs) for the SAR committee.
• Interact with lines of business to understand customer activity, as needed.
• Perform CIP and beneficial ownership validation and distribute weekly reports to lines of business.
• Conduct and analyze FinCEN 314(a) search requests in accordance with regulatory expectations.
• Review customer due diligence and account due diligence for new deposit accounts, including identifying potentially new high risk customers.
• Responsible for reviewing, correcting, and creating (as needed) CTRs for submission; conduct follow up with lines of business as needed.
• Review, research and certify all OFAC suspects generated on SilverLake each time the SDN List is updated. Complete Wealth OFAC review monthly.
• Assist lines of business with research of potential OFAC matches, as needed.
• Assist with AML CFT audits and exams and the corrective action plans related to such AML CFT audits and exams that are assigned to the AML Department.
• Perform various other duties and work on various projects as assigned.
• Other duties as assigned.

Additional Job Functions

• Serve as an additional resource for questions regarding AML/CFT/OFAC policies and procedures.
• Remain current with changes in AML CFT regulations and assists in the development of related procedures.
• Comply with all Company policies and
• The AML CFT Specialist does not have any supervisory duties.

Minimum Qualifications

• High School diploma (or equivalent), and two or more years of retail or commercial banking experience required.

Competencies

• Proficient in using core banking software, AML monitoring software such as BAM+, and Window 2010 Office software.
• Basic knowledge of Bank services and products.
• High degree of accuracy and attention to detail.
• Strong analytical skills.
• Experience working in a fast paced environment; prioritizing work and multi-tasking
• Good working knowledge of the Bank, its policies and procedures and federal regulations pertaining to AML CFT and OFAC.

Preferred, but not required

• Three or more years banking experience strongly preferred
• Bachelor’s degree a plus
• One or more years related experience and/or training in AML CFT Compliance
• Prior experience working with AML monitoring software preferred

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:  $24.35-$32.00 

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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