EDD/AML Analyst

at  Flagstar Bank

Position Title
EDD/AML Analyst
Location
Ohio Corporate Office (Cleveland, OH)
Job Summary
The EDD/AML Analyst is responsible for maintaining certain aspects of the Bank’s BSA/AML compliance program and assists in meeting and maintaining BSA/AML compliance requirements of the Bank. Complies with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), as well as adhering to the Bank’s policies and procedures to reduce loss/risk to the Bank.
Assigned to a team responsible for performing EDD reviews that may range from routine to highly complex. Performs in depth research and detailed account analysis reviewing and investigating cases on the Bank’s Case Management System. Assists in the monitoring and reporting of accounts where suspicious/unusual activity has been noted, and the review of AML Risk Assessment forms. Responsible for performing Continuing Activity Reviews, completing Suspicious Activity Reports and prepare case investigation documents for presentation at periodic account review account closure meetings. Must possess excellent analytical skills and be able to handle multiple tasks concurrently.
Pay Range: $38,700.00 - $54,900.00 - $71,100.00

Job Responsibilities:

• Works on a team that conducts periodic/annual Enhanced Due Diligence reviews of high-risk accounts. Team assignment may be structured according to skill level and complexity of work.
• Performs customer due diligence reviews and reviews of other monitoring reports on a daily basis.
• Performs Continuing Activity Reviews.
• Completes Suspicious Transaction Activity Reports.
• Prepares case investigation documents for presentation at Account Review meeting and Account Closure meeting.
• Performs due diligence on customer accounts and report negative findings to BSA management.
• Reviews /Investigates cases on the Bank’s Case Management System.
• Performs follow-up with other business units related to ongoing investigations.
• Responsible for obtaining the 314(a) listings from FINCEN and distributing to the Business Intelligence Group to run the file compare. Responsible for conducting individual inquiries into the E-GIFTS Wire System.
• Responsible for escalations up to and including resolving 314(a) list, OFAC issues with incoming or outgoing funds in OFAC prohibited countries.
• Conducts Bank core system searches in Miser, CLEAR, PRIME/FCRM and E-gifts in response to law enforcement inquiries provided via FinCEN’s website 314(a) list.
• Performs special projects and additional duties and responsibilities as required.
• Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.

Job Qualifications:

• High school diploma or equivalent.
• Bachelor’s degree or equivalent work experience.
• One (1) to three (3) years of work experience in AML.
• ACAMS Certification preferred but not required.
• Working knowledge and understanding of general OFAC, BSA/AML, and USA PATRIOT Act and risk management principles.
• Working knowledge and understanding of Retail Banking and Lending products and services, and core banking systems.
• Knowledge of BSA monitoring systems preferred.
• Strong internet research skills.
• Strong verbal and written communication skills.
• Sound analytical and problem-solving skills.
• Good organizational skills.
• High degree of accuracy and attention to detail.
• PC literate with proficiency in Microsoft Outlook, Microsoft Word and Microsoft Excel.
• Ability to work and contribute to a team-oriented and collaborative environment to improve the analytical and reporting processes.
• Ability to meet deadlines and manage multiple tasks in a fast-paced environment.

• Works on a team that conducts periodic/annual Enhanced Due Diligence reviews of high-risk accounts. Team assignment may be structured according to skill level and complexity of work.
• Performs customer due diligence reviews and reviews of other monitoring reports on a daily basis.
• Performs Continuing Activity Reviews.
• Completes Suspicious Transaction Activity Reports.
• Prepares case investigation documents for presentation at Account Review meeting and Account Closure meeting.
• Performs due diligence on customer accounts and report negative findings to BSA management.
• Reviews /Investigates cases on the Bank’s Case Management System.
• Performs follow-up with other business units related to ongoing investigations.
• Responsible for obtaining the 314(a) listings from FINCEN and distributing to the Business Intelligence Group to run the file compare. Responsible for conducting individual inquiries into the E-GIFTS Wire System.
• Responsible for escalations up to and including resolving 314(a) list, OFAC issues with incoming or outgoing funds in OFAC prohibited countries.
• Conducts Bank core system searches in Miser, CLEAR, PRIME/FCRM and E-gifts in response to law enforcement inquiries provided via FinCEN’s website 314(a) list.
• Performs special projects and additional duties and responsibilities as required.
• Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures