Compliance Analyst

Job Description

Project Overview:
• Client has been engaged to perform enhanced due diligence (EDD) on Shinhan’s high risk customers to ensure account profiles are current, whether risk profiles should be adjusted or suspicious activity reported when the activity is inconsistent with the customer profile.
Scope:
• The scope of the testing for each of the high risk customers will include the following activities, which will be documented in the Banker’s Toolbox BAM application:
• Review prior Cases and Alerts in BAM.
• Review SAR and CTR logs to determine if the customer had any filings for the period.
• Review all related accounts including accounts related by account signers and/or account ownership.
• Export the last 6 months of transactional history in an Excel file to summarize it by activity types.
• Review the source of funds and outgoing activity in comparison to the stated profile.
• Review for any new patterns/trends as well as any unusual activity.
• Ensure the business is still shown as an Active entity in its respective State of Incorporation.
• Obtain financials from the Commercial Lending group and save them at the Customer level in BAM.
• Include and attach any relevant documentation obtained during the review process in the Alert.
Approach:
• Client will develop written procedures based on the bank’s current procedures for review and approval by Bank Management. Once approved, client will follow the agreed-upon processes to conduct the enhanced due diligence on the bank’s high risk customers.
• The BAM trainer will provide training on the use of BAM.
• Each EDD review should take no longer than 4-5 hours to complete.
• Each of the 10 EDD contractors will be assigned customers to review.
• The first round of EDD reviews for each contractor will be reviewed for accuracy and completeness. After the first round of reviews, the work for each contractor will be reviewed on a sample basis.

Qualifications

• BSA (Bank Secrecy Act) and AML (Anti Money Laundering Act) Experience
• Fraud Investigation Experience
• Internal Audit Experience
Experience working in Excel

Additional Information

To know more about this position, please contact:

Ashish Sharma

ashish.sharma(at)collabera.com

973-475-7322