INTERNSHIP - Compliance Anti Money Laundering

Job description

Environment

DEPARTMENT DESCRIPTION

The Transaction Monitoring Group (TMG) is a surveillance unit within AML Compliance with centralized responsibility for the Bank's AML transaction monitoring systems and processes. The TMG manages the rules and parameters used in the Bank's automated transaction monitoring system and handles cases generated by the system for review, and investigation and closure or reporting. The TMG also conducts other manual processes outside of the monitoring system to identify and ultimately report unusual activity.

We are looking to hire an intern for 6 months with the possibility of extending to 1 year.

Mission

MAIN ACCOUNTABILITIES

AML Analysts within the TMG review all cases of potentially suspicious activity generated via the Bank's automated transaction monitoring system; waives or investigates the cases; and escalates cases to the TMG Manager, when appropriate, for possible SAR filing. Their primary focus is correspondent banking activity which is monitored using the Bank's automated transaction monitoring system, however designated AML Analysts also review alerts and/or activity manually generated, as well as any activity escalated during the normal course of business.

·  Act as the first level reviewer in making initial investigation decisions on corresponding banking BSA cases as well as determining the specific information needed to manage the investigation.
·  Manage a queue of cases, ensuring timely follow up of requests and adherence to escalation procedures.
·  Advise Management on current issues regarding to corresponding banking.
·  Prepare and participate in various training sessions provided to front office and operation persons.
·  Assist the TMG with analysis to optimize processes for improving correspondent banking monitoring.
·  Assist other members of AML Compliance with ad hoc analysis and investigation requests.
·  Perform analysis and duties pursuant to obligations under the USA PATRIOT Act (Section 314(a) and 314(b) requests; Section 319).
·  Conduct targeted account reviews on high risk correspondent banking clients and be able to analyze holistic view of customer in terms of products, services and underlying transactions as well as escalate potential issues.
·  Prepare SAR Committee summary narratives and present cases to the SAR Committee, and prepare SAR filings.
·  Know and understand the laws applicable to money laundering, to include the BSA, the USA PATRIOT Act, US Treasury AML guidelines, OFAC requirements and Suspicious Activity Reporting requirements.
·  Review and analyze AML current trends and news in order to identify high risk areas, counterparties or keywords to incorporate into monitoring filters, rules, or profiles.

Desired profile

Profile

COMPETENCIES
Required:

·  Possess strong analytical, and written communication skills and be able to clearly synthesize thought process and rationale behind
·  Strong attention to detail
·  Ability to work under minimal supervision
Preferable:

·  Strong research skills, advanced skills in the use of Microsoft Word, Excel, PowerPoint, PRIME Compliance Suite, and experience with online research systems including web-based tools
·  Knowledge of multi-cultural situations and languages with the ability to apply them efficiently to the AML surveillance field
TECHNICAL SKILLS
Required:

·  MS Office Suite
PRIOR WORK EXPERIENCE
Preferable:

·  1-2 years experience in Anti Money Laundering or OFAC case investigations
·  Experience in assisting with AML/OFAC special projects or AML/OFAC implementation of new/updated procedures
EDUCATION
Required:

·  Juris Doctorate