AML Compliance Specialist

Company: Nesco Resource ( Learn More )

General Information
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Job Description

Job Description

CheckFreePay Corporation analyzes its financial activity for fraud, potential money laundering, terrorist financing, and suspicious activity and, when appropriate, files Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) with the Financial Crimes Enforcement Network (FinCEN), part of the U.S. Department of the Treasury. The AML Compliance Specialist performs a critical role in ensuring that CheckFreePay supports management in the day-to-day compliance efforts related to regulatory compliance, fraud prevention, legal policies, procedures and practices.

Essential Job Responsibilities:

Monitor daily alert and account activity through the use of electronic transaction monitoring case management systems.

Perform thorough analysis of transactions and consumer information to vet for potentially suspicious and fraudulent activity.

Conduct intensive investigations using both internal and external investigative tools to arrive at sound risk-based conclusions.

Document investigations, escalation and resolution of cases for review by supervisor.

Perform due diligence, KYC, OFAC screening on customers, agents, billers, and/or merchants.

Draft clear, concise, well-written Suspicious Activity Reports that detail and analyze the potentially suspicious activity for review by a supervisor.

Develop system enhancements to transaction monitoring system for increased efficiency and effectiveness of suspicious activity and fraud detection.

Management of 314(b) and law enforcement requests to build cases and report activity.

Communicate with agents, banks and billers in order to send, track, and follow up on requests for information and documentation.

The above statements are intended only to describe the general nature of the job, and should not be construed as an all-inclusive list of position responsibilities.

Required Qualifications:

  • Bachelor's Degree or equivalent experience required

  • Minimum of 2-5 years banking or regulatory experience specifically working with the BSA/AML and OFAC regulatory requirements

  • Strong analytical skills required - ability to problem solve, conduct investigations, review and analyze data, locate its source, and develop and recommend solutions.

  • Excellent oral and written communication skills

  • Exhibits excellent teaching and training skills

  • Proactive and self-starting

  • Strong project management skills

  • Must possess a high level of initiative, inquisition and creativity

  • Strong work ethic, independent initiative, and interpersonal skills

  • Strong understanding of, or the ability to quickly gain such, of Bank Secrecy Act (BSA)/Anti Money Laundering (AML) laws, regulations, and guidance as well as the desire to keep up with changes in a complex environment

  • Detail and quality oriented

  • Ability to establish and maintain harmonious working relationships with co-workers and other business units.

  • Preferred Qualifications:

    ACAMS, CFE, CFCS, CFCI, preferred
    Job Requirements