AML Investigator I

Valley National Bank; Morristown (AZ); On-site; USD 65,000 - 95,000; Full time

Job summary

Valley National Bank in the United States seeks an AML Investigator to review alerts from electronic monitoring software, analyze internal AML reports, and determine whether activity warrants further review or SAR filing. The role requires research into customer activity against KYC documentation and external sources.

You will conduct suspicious activity investigations, draft substantiating narratives, file SARs with FinCEN, manage complex cases, and collaborate with AML management to ensure

Qualifications

• Knowledge of BSA and Patriot Act
• Understanding of OFAC requirements
• Regulatory SAR knowledge
• Strong verbal and written communication
• Organizational and analytical skills
• Proficient in MS Word, Excel, Access, Outlook
• Attention to detail under pressure
• Team oriented and independent
• Prioritization and task management

Responsibilities

• Review alerts from electronic monitoring software to assess need for review and analysis of internal AML reports.
• Research customer activity against KYC documentation and external information sources; recommend further actions and SAR needs.
• Conduct suspicious activity investigations and draft narratives to substantiate decisions.
• Draft and file Suspicious Activity Reports with FinCEN.
• Manage complex cases involving multiple relationship accounts and high-risk scenarios; coordinate with investigators.
• Identify and analyze records from outside agencies to facilitate investigations (credit bureau, police, court records).
• Provide recommendations to close customer accounts based on investigations.
• Collaborate with employees and customers on structuring and AML matters.
• Prepare bank-wide guidance on AML matters.
• Support AML management in monitoring platform and day-to-day compliance with AML/KYC requirements.
• Work on special AML projects as assigned by AML management.

Job description

Responsibilities

• Review and analyze alerts generated by the Bank's electronic monitoring software to make a determination as to whether activity warrants further review. Review and analyze internal AML reports, draw conclusions and make recommendations regarding the need for further investigation.
• Research and analyze customer activity compared to KYC documentation and internal/external information sources and make recommendations regarding the need for further review and/or SAR filing.
• Research and analyze customer activity compared to KYC documentation and internal/external information sources and make recommendations regarding the need for further review and/or SAR filing.
• Conduct suspicious activity investigations and determine whether a Suspicious Activity Report is needed. Draft narrative for each case substantiating the decision/recommendation.
• Draft and file Suspicious Activity Reports with FinCEN.
• Manage complex cases involving matters such as multiple relationship accounts, international wires involving Bank-designated high risk jurisdictions, and complex cash structuring schemes.
• Identify and analyze records of outside agencies to facilitate investigations including credit bureau records, police and court records.
• Make recommendations for closing customer accounts/relationships based on investigation.
• Correspond with employees and customers in connection with matters such as structuring.
• Prepare bank wide guidance on AML matters.
• Work with the business and AML Investigations to understand and resolve potential AML monitoring issues.
• Work with the AML management team to ensure the monitoring platform consistently addresses prevailing risk.
• Support management in the day-to-day compliance efforts with AML/KYC requirements.
• Analyze, plan and complete special projects assigned by the AML management.

Qualifications

Required Skills

• Knowledge of laws applicable to money laundering, to include the BSA, The USA Patriot Act, U.S. Treasury AML guidelines, OFAC requirements and Suspicious Activity Reporting requirements.
• Strong verbal and written communication skills.
• Superior organizational and analytical skills. Strong time management skills.
• Strong research skills.
• Advanced skills in the use of Microsoft Word, Excel, Access, and Outlook. Experience with online research systems including web-based tools.
• Ability to maintain attention to detail and accuracy under pressure situations.
• Team oriented and able to work independently.
• Ability to prioritize and organize assignments.

Required Experience

• High School Diploma or GED and a minimum of two years in banking operations or investigative law enforcement experience related to anti-money laundering.
• Bachelors Degree preferred.
• CAMS certification preferred.

Expected Work Hours

40

Total Rewards Summary

We provide a comprehensive and competitive total rewards package including base salary determined by factors such as the role, relevant experience, skill set, and geographical location. Eligible positions may also be eligible to receive commission-based compensation and/or discretionary incentive compensation, which may be awarded as cash or forfeitable equity, recognizing individual performance and contributions.

In addition to financial compensation, we offer a robust suite of benefits tailored to meet diverse employee needs based on eligibility criteria. These include comprehensive health care and insurance plans, retirement savings options, tuition and adoption reimbursement programs, paid time off, mental health support, and other valuable benefits programs. Further details regarding total compensation and benefits will be shared during the hiring process.