AML Monitoring Analyst in El Centro, California at Sun Community Federal Credit U
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Job Description
AML Monitoring Analyst
Department: Compliance Department
FLSA: Non-Exempt
EEO: Administrative
Salary Grade: 7
Salary Range: $22.54 - $28.17 - $33.80
POSITION REPORTS TO: Director of Risk & Compliance
SUSPERVISORY POSITION: No
People Vision: At Sun, our people shine brightest. We create a culture of empathy, care, and connection that empowers brighter futures and supports well-being for all. Because when we care, lives change.
Position Summary:
The AML Monitoring Analyst is responsible for performing various assignments related to the Credit Union’s Compliance and Bank Secrecy Act Programs and anti-money laundering functions. This position is primarily responsible for reviewing and analyzing data on credit union transactions regarding Bank Secrecy Act (BSA) regulations, Member Identification/Member Due Diligence (MIP/MDD) requirements, and Office of Foreign Assets Control (OFAC) requirements. This position conducts day to day AML program responsibilities including member account oversight to identify risk and suspicious activity. The AML Monitoring Analyst is responsible for completing Monetary Instruments Logs, Suspicious Activity Reports and Currency Transaction Reports. Participate in projects to improve processes, procedures and other issues derived from audit and examination findings.
- Maintain proficient knowledge of the current AML & consumer compliance climate including, but not limited to, BSA, USA Patriot Act, OFAC, and Dodd Frank.
- Review and investigate FRAML and Watch List alerts generated by transaction monitoring systems.
- Analyzes financial data, investigates suspicious activity and develops strategies to mitigate risk.
- Conducts research and gathers documentation to identify patterns and anomalies that may indicate suspicious activity.
- Adheres to Federal and State laws and regulations during investigations or reporting of suspicious activity.
- Manages the FinCEN 314(a) list to download, upload and report positive matches.
- Monitors members’ accounts and transaction activity and takes immediate action if suspicious activity is identified or fraud occurs.
- File all required regulatory reports and documents with the appropriate federal agency and respond quickly to all lawful requests for information regarding suspicious activity including, the filing of a Currency Transaction Report (CTR) and Suspicious Activity Reports (SARs) to FinCEN.
- Reviews and prepares daily SMURF report to identify transactions that require a CTR (Currency Transaction Report).
- Reviews CTRs filed and submits electronically within the required time. Reports any exceptions to Management monthly.
- Reviews and amends (when applicable) any errors received by FinCEN in reference to CTRs and SARs and reports to appropriate management.
- Prepares and updates SAR reports for investigated activity that did not resulted in a SAR.
- Perform 90-day review of filed SARs.
- Ensures OFAC search is completed for all parties conducting business with the Credit Union.
- Reviews the branches, Monetary Instruments Log monthly for accuracy.
- Obtains ongoing BSA training (at least annually) to maintain proficiency in BSA/AML requirements.
- Develop and update policies and procedures as needed, including forms and system input.
- Keep informed of internal policies and practices.
- Review of follow-up items addressed in previous internal audits and examinations.
- Support branches and departments in related compliance requirements and procedures.
- Assist with documentation gathering and preparation for department internal and external audits and regulatory examinations as necessary.
- Assist with special projects and department initiatives.
- Participate in related AML projects and remediations.
- Assess the effectiveness of existing BSA program and identifies gaps or weaknesses.
- Document internal control deficiencies and regulatory exceptions and notifies Compliance Officer of identified areas needing improvement or correctional training.
- Works in the spirit of the credit union’s Vision, Pillars, and Team Organizing Principle both internally and externally.
- Consistently reviews and dispositions AML alerts and case referrals within established timeframes, with a low error rate and proper documentation of investigative steps.
- Prepares high-quality Suspicious Activity Reports (SARs) with accurate narratives, complete information, and within required regulatory filing deadlines.
- Effectively manages assigned caseload, ensuring appropriate prioritization of high-risk alerts, follow-up on supporting documentation, and timely case closure.
- Maintains compliance with BSA/AML policies, internal procedures, and regulatory requirements; demonstrates minimal need for corrective action in quality control or audit reviews.
- Appropriately escalates complex or high-risk cases to senior staff or management, and collaborates with other departments (e.g., fraud, compliance, operations) to resolve potential suspicious activity.
Education Required: High school diploma or GED required. Bachelor’s degree in Criminal Justice, Finance, Business Administration, or a related field preferred.
Required Knowledge: Knowledge of best practices in financial services regulation, fraud methodologies, and emerging practices in financial crime and money laundering. Knowledge of applicable federal and state laws and regulations for financial institutions.
Experience Required: Minimum of two (2) years of experience in a financial institution, with a background in retail operations. Direct experience in BSA/AML, compliance, fraud prevention, or financial risk management preferred.
Professional Certifications: Ability to obtain one or more of the following certifications: Certified Bank Secrecy Act Professional (CBSAP), Certified Anti-Money Laundering Specialist (CAMS), or Certified Credit Union Compliance Officer (CUCO). Other certifications such as CUERP, CRCM, CFE, or CRMA are a plus.
- Ability to interpret accurately regulatory implications for the organization.
- Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
- Ability to write reports, business correspondence, and policy & procedure manuals.
- Ability to handle confidential information with discretion.
- Ability to recognize and assess suspicious activity with sound judgment.
- Familiar with systems such as Verafin, Keystone, and other credit union platforms is a plus.
WORKING CONDITIONS
No hazardous or significantly unpleasant conditions (such as in a typical office).
INTENT AND FUNCTION OF JOB DESCRIPTIONS
Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well- constructed job descriptions are an integral part of any effective compensation system.
All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.
In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodation will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.
Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.