EDD/AML Analyst
Company: Flagstar Bank
Location: Hicksville
Posted on: May 2, 2024
Job Description:
The EDD/AML Analyst is responsible for maintaining certain
aspects of the Bank's BSA/AML compliance program and assists in
meeting and maintaining BSA/AML compliance requirements of the
Bank. Complies with all applicable, federal and state laws,
regulations and guidance, including those related to Anti-Money
Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), as well
as adhering to the Bank's policies and procedures to reduce
loss/risk to the Bank. Assigned to a team responsible for
performing EDD reviews that may range from routine to highly
complex. Performs in depth research and detailed account analysis
reviewing and investigating cases on the Bank's Case Management
System. Assists in the monitoring and reporting of accounts where
suspicious/unusual activity has been noted, and the review of AML
Risk Assessment forms. Responsible for performing Continuing
Activity Reviews, completing Suspicious Activity Reports and
prepare case investigation documents for presentation at periodic
account review account closure meetings. Must possess excellent
analytical skills and be able to handle multiple tasks
concurrently.
- Works on a team that conducts periodic/annual Enhanced Due
Diligence reviews of high-risk accounts. Team assignment may be
structured according to skill level and complexity of work.
- Performs customer due diligence reviews and reviews of other
monitoring reports on a daily basis.
- Performs Continuing Activity Reviews.
- Completes Suspicious Transaction Activity Reports.
- Prepares case investigation documents for presentation at
Account Review meeting and Account Closure meeting.
- Performs due diligence on customer accounts and report negative
findings to BSA management.
- Reviews /Investigates cases on the Bank's Case Management
System.
- Performs follow-up with other business units related to ongoing
investigations.
- Responsible for obtaining the 314(a) listings from FINCEN and
distributing to the Business Intelligence Group to run the file
compare. Responsible for conducting individual inquiries into the
E-GIFTS Wire System.
- Responsible for escalations up to and including resolving
314(a) list, OFAC issues with incoming or outgoing funds in OFAC
prohibited countries.
- Conducts Bank core system searches in Miser, CLEAR, PRIME/FCRM
and E-gifts in response to law enforcement inquiries provided via
FinCEN's website 314(a) list.
- Performs special projects and additional duties and
responsibilities as required.
- Where applicable and when performing the responsibilities of
the job, employees are accountable to maintain Sarbanes-Oxley
compliance and adhere to internal control policies and procedures.
Job Qualifications :
- High school diploma or equivalent.
- Bachelor's degree or equivalent work experience.
- One (1) to three (3) years of work experience in AML.
- ACAMS Certification preferred but not required.
- Working knowledge and understanding of general OFAC, BSA/AML,
and USA PATRIOT Act and risk management principles.
- Working knowledge and understanding of Retail Banking and
Lending products and services, and core banking systems.
- Knowledge of BSA monitoring systems preferred.
- Strong internet research skills.
- Strong verbal and written communication skills.
- Sound analytical and problem-solving skills.
- Good organizational skills.
- High degree of accuracy and attention to detail.
- PC literate with proficiency in Microsoft Outlook, Microsoft
Word and Microsoft Excel.
- Ability to work and contribute to a team-oriented and
collaborative environment to improve the analytical and reporting
processes.
- Ability to meet deadlines and manage multiple tasks in a
fast-paced environment.
Keywords: Flagstar Bank, New York , EDD/AML Analyst, Professions , Hicksville, New York
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