Under varying levels of supervision, and in accordance with established policies and procedures, the Sr. AML Investigator is responsible for: day-to-day monitoring and/or investigation of potentially suspicious activity, ensuring accurate and timely submission of all required reports (i.e. SARs), conducting suspicious activity reviews and analysis of all customers of the bank. Other duties may include, but are not limited to, implementing new policies and procedures, training peer colleagues, direct reports, and/or extra-departmental colleagues, reviewing, processing, and filing SARs. Assists BSA/ Compliance Manager, as requested, in performing various research functions including but not limited to reviewing and preparing month-end and other intermittent reports and metrics.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Perform the daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, and unusual activity, and monitor large currency activity; determine if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
Assist with law enforcement inquiries and requests
Assist in the development, coordination, and facilitation of training programs to educate bank personnel about BSA-related compliance requirements and procedures
Assist in the development and implementation of bank forms, notices, and procedures and monitoring processes for compliance with the Bank Secrecy Act, OFAC, and related regulations.
Assist in the compliance with 314(a) and 314(b) (PATRIOT Act) responsibilities
Ensure thorough completion of all case investigations
Ensure timely completion of casework to facilitate case closure and/or transmission of SARs to federal authorities as required by regulation
Assist in updating daily procedures and job aid documents
Provide assistance in the preparation of monthly reports to keep management informed of department activities, such as Stratification and Velocity analyst, case and SAR volume tracking, as well as other reports as assigned.
Assist in monitoring account activity for suspicious patterns, conduct suspicious activity report investigations, high-risk customer/account reviews, and recommends when to file Suspicious Activity Reports (SARs). Assist in the filing of the SARs as necessary.
Perform customer and transaction analytics using automated blockchain analysis tools to identify trends and possible suspicious activity
Provide assistance to the BSA Department as needed
Maintain proficient knowledge of all applicable rules and regulations
Assist in the research of regulatory issues to compliance questions from Bank personnel, using legal and regulatory reference materials and regulatory agencies, as appropriate
Assist in special projects and tasks for the department as directed
Assist in the development, revision, or reviews of bank policies, procedures, disclosures, notices, and forms to comply with changing processes, legislative and regulatory changes, and new requirements.
Assist with self-assessments as needed. Assist in the preparation and coordination of independent audits and regulatory examinations
Maintain an intermediate understanding of regulations, financial services, and regulatory trends that impact their day-to-day case workload
Provide support to and act as a subject matter expert for less experienced AML Investigators
Ensure that assigned cases delegated by the Sr. AML Operations Manager are executed in accordance with policies and procedures
Requires the exercise of judgment following broad guidelines
Ability to decide practices and cases, as necessary
Must be able to accommodate detailed work, problem-solving, reasoning, math, presentations, verbal communication, written communication, analytical reasoning, training others, multiple concurrent tasks, and constant interruptions.
Maintain current knowledge of all federal and state laws and regulations, along with the Company’s policies and procedures
Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
Must adhere to the company’s core values of Challenge Convention, Do What’s Right, Take Ownership, Empower People, Exceed Expectations, and Cultivate Awesome all while keeping our “Why?” front of mind. Our Why? Silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.
College degree, or equivalent banking experience
5+ years’ general banking or regulatory agency experience, with an emphasis on compliance and/or operations
Knowledge of Bank Secrecy Act (“BSA”), Anti-Money Laundering (“AML”), and Office of Foreign Assets Control (“OFAC”) laws, regulations, and best practices
CAMS Certification preferred
Basic knowledge of Bank administration, lending, and operations products and services; related state and federal laws and regulations, and other Bank operational policies and procedures.
Exceptional research and analytical skills with the ability to analyze large amounts of data decipher higher risk attributes (transactional, geographical, product, customer type, etc.), and disposition case investigations appropriately.
Able to multitask and work well in a high-volume deadline-oriented environment.
Understanding of legislative and regulatory processes
Familiarity with functional areas of banking
Comprehensive understanding of general banking operations activities, products, and services
Ability to proactively identify and assess potential concerns and risks
Ability to resolve issues, work independently, and meet deadlines
Ability to communicate effectively with management and staff
Good organizational and time management skills
Proficient in Microsoft Word and Excel
Effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence, and procedures, and speak clearly to customers and employees
BANK SECRECY ACT REQUIREMENTS:
Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the Company’s customer identification program (CIP) rules, observing all Company policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.
While performing the duties of this job, the employee is:
Regularly required to talk or hear.
Required to communicate with customers and coworkers verbally and in writing.
Occasionally required to stand; walk.
Occasionally required to lift up to 10 pounds.
Required to sit for long periods and reach with hands and arms.
Able to read documents, computer screens, reports, and other communications and have the ability to adjust focus and close vision.