AML Compliance Analyst

Rhode Island Bar Assn.; United States; Remote; USD 55,000 - 85,000; Full time

Job summary

A leading association in Rhode Island is seeking an AML Compliance Analyst to ensure compliance with regulatory requirements and accurately analyze transactions for suspicious activity. The ideal candidate will have a Bachelor's degree and at least two years of relevant experience in financial compliance, typically within credit unions or similar financial institutions.

Qualifications

• Minimum of two (2) years of AML/BSA/OFAC monitoring and filings.
• Strong knowledge of KYC, CIP, Anti-Money Laundering regulations.
• Experience with AML software.

Responsibilities

• Ensure adherence to the Bank Secrecy Act/Anti-Money Laundering program.
• Perform analysis on transactional data for irregular activity.
• Conduct periodic account/member reviews to detect suspicious activity.

Skills

Knowledge of financial products and services

Understanding of financial crimes

Ability to work effectively as part of a team

Education

Bachelor’s degree in business administration or equivalent education

Job description

The AML Compliance Analyst ensures adherence to the credit union's Bank Secrecy Act/Anti-Money Laundering program. Performs analysis on transactional data to make determinations of irregular activity through understanding of industry norms, historical member activity and regulatory definitions of suspicious activity. Conducts periodic account/member reviews to detect potentially suspicious activity while documenting steps taken through the investigation process within the centralized case management system. Identify anomalies as they relate to AML initiatives, AML/BSA regulations, and industry best practices, escalates findings to AML management. Investigates system generated AML alerts to determine regulatory filing requirements for suspicious activity or large cash transactions through internal transactions, business unit follow-up and where necessary, information sharing (314b) requests with other financial institutions. Completes any other job-related duties needed to help drive to our Vision, fulfill our Purpose, and abide by our Organization’s Values.

Bachelor’s degree in business administration or equivalent education and/or experience. Minimum of two (2) years of AML/BSA/OFAC monitoring and filings with an aggregation AML software experience. Knowledge of financial products and services. Sound knowledge of regulations as applied to KYC, CIP, Anti-Money Laundering, and the Bank Secrecy Act requirements with emphasis on transaction monitoring. Strong understanding of financial crimes and common money laundering typologies. Ability to work effectively as part of a team and independently, as necessary.