Offers “HSBC”

Expires soon HSBC

AML Investigations - SAR Control Analyst

  • Arlington Heights (Cook County)
  • Legal

Job description

Reviews and completes Suspicious Activity Report forms (SARs) received from multiple sources, including External Investigative Reporting, Major and Complex Investigations, to timely and accurately report potentially suspicious activity. Analyzes sensitive information concerning customer and account activity including transactional data and conducts additional research related to money laundering, terrorist financing, organized crime, and other financial crime activity in order to confirm that SAR filings are complete and accurate.

Impact on the Business
· Inputs and reviews Suspicious Activity Reports (SARs) reporting anomalous or potentially suspicious activity and communicates with various SAR writing groups to ensure timely and accurate submissions of these reports
· Conducts Quality Check of SARs created by investigators to ensure SAR filings are complete and accurate
· Reviews customer and account activity including transactions data and customer relationships to confirm red flags and suspicious activities that require reporting
· Performs name and account based research on lists and reports provided through established resources to support accurate filing process
· Maintains familiarity with appropriate investigation and research techniques to support AML activities, including research utilizing bank systems, intranet, internet and external vendor solutions as appropriate
· Effectively communicates within the AML Investigations organization and across other functions/areas in HBUS, effectively conveying key information to both internal and external audiences as appropriate.
· Maintains knowledge of internal escalation processes to ensure appropriate approvals are received prior to completions of SAR filings
· Identifies significant cases that require notification to management
· Assists in training and cross-training personnel, as required.
Customers / Stakeholders
· Helps to foster a positive culture of compliance by working proactively with the AMLi, LOBs, BRCM, internal controls functions, and other Compliance professionals to ensure that best practices and systems are in place to facilitate business growth and the overall success of HSBC in accordance with applicable laws, rules, regulations and internal policy.
· Maintains relationships with internal stakeholders in FCTM and other areas to help ensure research techniques and capabilities perform at high levels.
· Maintains external awareness of research trends, information, and techniques related to money laundering, and communicates the same to appropriate levels of the FCTM organization.
Leadership & Teamwork
· Effectively communicates within FCTM re-enforcing that knowledge on key information, policies and procedures is understood with all constituents both internal and external.
· Provides support and expertise to the FCTM compliance organizations on research techniques, capabilities, and systems
· Maintains awareness of AML/BSA trends and other related industry practices helping ensure external knowledge and focus is not lost.
· Helps provide project management support on compliance-related projects and initiatives, as requested, to ensure they progress toward a common goal in alignment with agreed timelines.
· Provides assistance to other investigators when necessary/requested
Operational Effectiveness & Control
· Helps monitor activities within the AML Compliance Office to ensure compliance with applicable internal policies and procedures and external regulations.
· Verifies whether complex or significant issues were escalated to more senior compliance employees, as appropriate
· Participates in special reviews, projects, and training efforts, as required.
· Discharges the accountabilities set out in the Legal and Compliance Functional Instruction Manual (FIM) by pro-actively assisting management in identifying and containing compliance risk, monitoring, reporting, and certification, fostering a compliance culture and optimizing relations with regulators.
· Assists in implementation the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
· Complete other responsibilities, as assigned.
Major Challenges
· Financial services compliance entails a high degree of regulatory compliance and reputational risk, particularly with respect to risks arising out of non-compliance with extensive and complex regulations. Failure to comply with these regulations would have significant negative effects on relations with regulators, the reputation of the Company with the public and may result in regulatory impediments to mergers and acquisitions and significant regulatory sanctions, including regulatory fines of material amounts.
· Historical compliance issues in AML place more pressure on this and related functions. The candidate will need to operate effectively under the pressure of deadlines, constant regulatory oversight, and pressure on the level of unit performance.
Role Context
· Reports directly to an AML Investigations Manager and Team Leader; and directly supports activities in the FCTM Organization.
· Inputs and reviews Suspicious Activity Reports (SARs) originating from various investigative teams and determines accuracy of these reports
· Ensures that SAR filings are complete and ready for filing within regulatory timeframes. Adheres to Global Standards' SLAs and FCTM Procedures. In no circumstance must an initial filing of the SAR go beyond the FinCEN regulation of 30 days.
· The Investigator may be responsible for inputting SAR reports into the system, as well as conducting quality check of SAR input condutced by other investigators
· Demonstrates a thorough understanding of policies and procedures pertaining to the role. Aware of what constitutes an effective control environment. Familiar with internal escalation processes.
· If needed, coordinates internal processes for the revision, review, approval, and publication of policies applicable to the business unit as well as internal departmental procedures to support functions that are the responsibility of Compliance.
· If needed, establishes process for the distribution of Compliance related communications from the department. Partners with management to create and deliver internal training and manage special projects within the department
Management of Risk
· Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues. The physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
· Show by example effective workflow management and time management skills.
· Meets all deliverables for QA reviews, analyses and regular or special reporting.
· Adheres to the Firm's Statement of Business Principles and Code of Ethics.
Observation of Internal Controls
· Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
· As appropriate for the role, ensures alignment with regulatory requirements, the Compliance FIM, HNAH's Enterprise Compliance Policy and Program, HNAH's BSA/AML Policy, other Group policies and all related policies and procedures.
· Communicates control weaknesses to other group leaders and business management in accordance with issue escalation procedures.

Desired profile

Qualifications :

·  Bachelor's degree in business, finance, accounting, related field or equivalent experience. AML investigative experience and SAR filing process experience preferred.
·  Strong interpersonal, organizational, communications, analytical and project management skills. High attention to details is needed.
·  Thorough knowledge of products, services, operations and systems and extensive dealing with laws, regulations and regulatory agencies related to assigned areas.
·  Proficiency with personal computers and pertinent mainframe systems and software packages.
EEO/AA/Minorities/Women/Disability/Veterans

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