Summary of the Position:
The AML EDD Analyst will be a member of the AML Compliance Team and will report directly to TriState Capital’s Senior AML Program Governance Unit Lead. The AML EDD Analyst will be responsible for playing a key role within the AML team in performing initial and/or periodic enhanced due diligence reviews of the bank’s customers that are deemed higher risk for money laundering and/or terrorist financing. The individual will also be responsible for assisting with maintaining other aspects of the Bank’s Know Your Customer (KYC) Program.
Primary Functions of the Position:
- Conducts EDD reviews of High Risk Customers (HRCs).
- Assists with the overall management of the HRC portfolio.
- Understands customer risks associated with money laundering, terrorist financing, financial crimes or other legal and reputational risks.
- Analyzes HRC transaction activity and determines whether actual activity is commensurate with expected activity, the line of business/industry, customer geography and other demographics.
- Conducts negative news searches on the customer, related entities and beneficial owners.
- Ensures all KYC information is complete and updated.
- Coordinates with businesses and operations to update records and refresh KYC information, as needed.
- Escalates all high risk situations to management (e.g., patterns, trends or inconsistencies within customer records or transactional activity).
- Compiles documented narrative reports summarizing the reviews which includes analysis of transactions and other information obtained through multiple sources.
- Ensures EDD files, process and documentation complies with all internal policies and procedures.
- Assists the business with EDD at onboarding.
- Assists in managing the Customer Risk Rating (CRR) process.
- Assists with routine reporting, policy and procedural requirements.
- Assists with other KYC processes (KYC includes: Customer Identification Program (CIP), beneficial ownership, Customer Due Diligence(CDD), and Enhanced Due Diligence (EDD)).
- Interacts with operations, businesses, AML Investigations and other second-line of defense functions.
Education and Experience Requirements:
- Bachelor’s Degree in Finance, Accounting, Law Enforcement, Social Sciences, or related field
- 3+ years of experience in AML Compliance
- Strong knowledge of BSA/AML/USA Patriot Act/OFAC/CIP regulatory requirements for financial institutions
- Experience EDD/HRC reviews and Know Your Customer (KYC) requirements
- Familiarity with higher risk business types such as Third Party Payment Processors and complex legal structures
- Strong subject matter knowledge of BSA/AML/OFAC and FinCEN regulatory requirements
- Prior private bank, treasury management, commercial bank, loan or deposit operations experience preferred
- CAMS certification preferred
Essential Skills and Abilities:
- Computer literate; moderate proficiency in Microsoft Office suite and Outlook
- Internet navigation skills including proficiency with internet search engines
- Strong working knowledge of a bank operating environment and applicable systems preferred
- Knowledge of FiServ FCRM, WireExchange, CWS and/or Signature Desktop a plus
- Ability to understand and analyze high risk factors and transaction trends within customer accounts
- Excellent research skills including experience with online research tools
- Ability to manage multiple on-going matters simultaneously and meet strict deadlines
- Sound analytical, problem solving, and organizational skills
- Detail oriented with strong analytical, oral and written communication skills
TriState Capital Bank provides equal employment opportunity and advance in employment to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or other categories protected by law.
TriState Capital Bank is an Equal Opportunity Employer.