AML Analyst

Tata Consultancy Services; Jersey City (NJ); On-site; USD 55,000 - 80,000; Full time

Job summary

A leading company in IT services is seeking an AML Analyst for a crucial role in compliance and monitoring. This entry-level position involves reviewing AML alerts, conducting investigations, and ensuring adherence to regulations, with a focus on analytical skills and meticulous attention to detail. The successful candidate will be rewarded with comprehensive employee benefits.

Benefits

Discretionary Annual Incentive

Comprehensive Medical Coverage

Maternal & Parental Leaves

401K Plan

Vacation and Sick Leave

Legal Assistance

Qualifications

• Familiarity with AML regulations like BSA and OFAC.
• Ability to identify patterns and analyze complex data.
• Capable of gathering information from various sources.

Responsibilities

• Reviewing alerts and analyzing AML alerts in FCRM.
• Conducting basic investigations for potential risks.
• Ensuring compliance with AML policies and regulations.

Skills

Analytical skills

Attention to detail

Investigative skills

Basic understanding of AML regulations

Basic knowledge of financial products and services

Job description

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TCS, a global leader in IT services, consulting, and business solutions, leverages technology for business transformation and helps catalyze change.

AML Analyst

Key Job Responsibilities

• Reviewing alerts: Analyzing AML alerts generated in FCRM, and look for the specific AML alerts category (potential red flags) like - structuring, high-risk high-volume transaction, change in behavior, etc.
• Review the alerted activity and 30 days of recent activity on the account including appropriate research to explain why the activity is performed.
• Customer profile checks: Verifying customer information against existing records to understand the legitimacy of transactions and the customer's expected activity.
• Basic investigation: Conducting initial research using internal systems and external data sources to gather information about the transaction, parties involved, and potential risks.
• Review the alerted activity and 30 days of recent activity on the account including appropriate research to explain why the activity is performed.
• Alert disposition: Deciding whether to close an alert as non-suspicious with no further action recommended escalate it to a higher level for more robust & thorough investigations
• Documentation: Record their findings and rationale for the decision made on the alert in a specific format provided with FCRM update
• Compliance adherence: Ensuring all reviews are conducted in accordance with established AML policies, regulations, and internal procedures.
  
  

Key Skills

• Basic understanding of AML regulations: Familiarity with Bank Secrecy Act (BSA), OFAC sanctions, and other relevant anti-money laundering laws.
• Analytical skills: Ability to identify patterns, analyze complex data, and draw logical conclusions from available information.
• Attention to detail: High level of accuracy when reviewing transactions and documenting findings and recommend action with detailed rationale.
• Investigative skills: Capability to gather and assess information from various sources to support decision-making
• Basic knowledge of financial products and services: Understanding different types of transactions, customer profiles, and potential red flags associated with various financial activities
  
  

TCS Employee Benefits Summary

• Discretionary Annual Incentive.
• Comprehensive Medical Coverage: Medical & Health, Dental & Vision, Disability Planning & Insurance, Pet Insurance Plans.
• Family Support: Maternal & Parental Leaves.
• Insurance Options: Auto & Home Insurance, Identity Theft Protection.
• Convenience & Professional Growth: Commuter Benefits & Certification & Training Reimbursement.
• Time Off: Vacation, Time Off, Sick Leave & Holidays.
• Legal & Financial Assistance: Legal Assistance, 401K Plan, Performance Bonus, College Fund, Student Loan Refinancing.
  
  

Salary: $55,000 - $80,000 per year

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  IT Services and IT Consulting

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