Compliance Analyst, Anti-Money Laundering
About the position
At CoBank, our Compliance Analyst, Anti-Money Laundering supports the bank's Anti-Money Laundering (AML) program, including handling Know Your Customer (KYC) and Beneficial Ownership processes. Performs customer transaction monitoring across all products and services to identify suspicious activity requiring a Suspicious Activity Report (SAR). Assists with initial Office of Foreign Assets Control (OFAC) reviews, and escalates to OFAC lead as appropriate. Assists in maintaining Compliance Program job aids and procedural documents, and updates permanent increases in customers' deposit limits.
Responsibilities
• Processes new customer KYC applications for lending and cash management offerings.
• Reviews the accuracy of the customer’s AML Risk Score, prepared by noncredit services or the CoBank relationship manager, and makes revisions as appropriate.
• Assists in validating prepared and/or updated AML Risk Scores to ensure that they are correct and in accordance with bank requirements.
• Updates existing AML Risk Scores based on customers’ foreign wire activity observed during transaction monitoring.
• Assesses Beneficial Ownership documents and handles requests for additional information.
• Conducts research and validation of entity data using appropriate internal and external data sources, including legal name, address, entity type, and ownership verification.
• Performs initial OFAC searches, identifies false positive hits, and escalates true hits to OFAC Lead.
• Performs customer transaction monitoring across all products and services to identify suspicious activity requiring a Suspicious Activity Report (SAR).
• Assists in performing periodic audits of new customer records to ensure all appropriate customer identity verification and KYC information has been collected and stored and that any advanced due diligence requirements based on the AML Risk Score have been addressed and documented.
• Assists in reviewing and recommending improvements for internal processes, including forms/checklists, data collection methods, analyses and reporting.
• Manages permanent increases in customers’ deposit limits.
• Assists in updating Compliance Program documentation.
• Participates in special projects and performs other duties, as assigned.
Requirements
• Bachelor's Degree in accounting, finance, business, criminology, politics, economic crime management, forensic accounting, law, required.
• Bachelor's requirement may be substituted with 3 or more years of compliance experience, preferably in banking or financial services, compliance or risk management. required
• High school diploma or GED required
• Proven analytical and problem solving skills, with a high level accuracy and attention to detail
• Able to develop and maintain effective relationships with associates at all levels of the organization
• Ability to work independently, as well as collaboratively in a team environment
• Strong quality, delivery and customer service orientation
• Excellent verbal and written communication and interpersonal skills
• Excellent organizational, time management and prioritization skills
• Demonstrated knowledge of MS Office applications (Outlook, Excel, Word, PowerPoint, Access)
Nice-to-haves
• Association of Certified Anti-Money Laundering Specialist (ACAMS) or Certified Financial Crime Specialist (CFCS) designation
• Prior Experience performing specific AML compliance-related functions, including KYC/CIP, enhanced due diligence, suspicious activity monitoring, and SAR preparation preferred
• Prior Experience using automated transaction monitoring software preferred
• Prior Experience in implementing, and/or administering an automated AML transaction monitoring system preferred
• Working knowledge of money laundering risks presented by business customers through the nature of transaction activity, geographic risks, type of business entity/formation, beneficial ownership/control and others; and comprehensive understanding of Bank Secrecy Act/USA PATRIOT Act requirements, preferred
• Understanding of legal governing documents required for different types of business formations (e.g. types of LLCs, trusts, partnerships, joint ventures, corporations etc.) and how each are owned/controlled, preferred
• Knowledge of CoBank customer types, products, and services, preferred
• Knowledge of ACBS, PAYPlus, eDocs, COSTAR, GTS, Lansa/Client or similar query tool, preferred
Benefits
• Careers with a purpose
• Time-Off Packages, 15 days of vacation, 10 paid sick days and 11 paid holidays
• Competitive Compensation & Incentive
• Hybrid work model: flexible arrangements for most positions
• Benefits Packages, including Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance
• Robust associate training and development with CoBank University
• Tuition reimbursement for higher education up to $10k per year
• Outstanding 401k: up to 6% matching and additional 3% non-elective contribution & Student Loan Match
• Community Impact: United Way Angel Day, Volunteer Day and Associate Directed Contribution
• Associate Resource Groups: creating a culture of respect and inclusion
• Recognize a fellow associate through our GEM awards
Apply Now
Apply Now
At CoBank, our Compliance Analyst, Anti-Money Laundering supports the bank's Anti-Money Laundering (AML) program, including handling Know Your Customer (KYC) and Beneficial Ownership processes. Performs customer transaction monitoring across all products and services to identify suspicious activity requiring a Suspicious Activity Report (SAR). Assists with initial Office of Foreign Assets Control (OFAC) reviews, and escalates to OFAC lead as appropriate. Assists in maintaining Compliance Program job aids and procedural documents, and updates permanent increases in customers' deposit limits.
Responsibilities
• Processes new customer KYC applications for lending and cash management offerings.
• Reviews the accuracy of the customer’s AML Risk Score, prepared by noncredit services or the CoBank relationship manager, and makes revisions as appropriate.
• Assists in validating prepared and/or updated AML Risk Scores to ensure that they are correct and in accordance with bank requirements.
• Updates existing AML Risk Scores based on customers’ foreign wire activity observed during transaction monitoring.
• Assesses Beneficial Ownership documents and handles requests for additional information.
• Conducts research and validation of entity data using appropriate internal and external data sources, including legal name, address, entity type, and ownership verification.
• Performs initial OFAC searches, identifies false positive hits, and escalates true hits to OFAC Lead.
• Performs customer transaction monitoring across all products and services to identify suspicious activity requiring a Suspicious Activity Report (SAR).
• Assists in performing periodic audits of new customer records to ensure all appropriate customer identity verification and KYC information has been collected and stored and that any advanced due diligence requirements based on the AML Risk Score have been addressed and documented.
• Assists in reviewing and recommending improvements for internal processes, including forms/checklists, data collection methods, analyses and reporting.
• Manages permanent increases in customers’ deposit limits.
• Assists in updating Compliance Program documentation.
• Participates in special projects and performs other duties, as assigned.
Requirements
• Bachelor's Degree in accounting, finance, business, criminology, politics, economic crime management, forensic accounting, law, required.
• Bachelor's requirement may be substituted with 3 or more years of compliance experience, preferably in banking or financial services, compliance or risk management. required
• High school diploma or GED required
• Proven analytical and problem solving skills, with a high level accuracy and attention to detail
• Able to develop and maintain effective relationships with associates at all levels of the organization
• Ability to work independently, as well as collaboratively in a team environment
• Strong quality, delivery and customer service orientation
• Excellent verbal and written communication and interpersonal skills
• Excellent organizational, time management and prioritization skills
• Demonstrated knowledge of MS Office applications (Outlook, Excel, Word, PowerPoint, Access)
Nice-to-haves
• Association of Certified Anti-Money Laundering Specialist (ACAMS) or Certified Financial Crime Specialist (CFCS) designation
• Prior Experience performing specific AML compliance-related functions, including KYC/CIP, enhanced due diligence, suspicious activity monitoring, and SAR preparation preferred
• Prior Experience using automated transaction monitoring software preferred
• Prior Experience in implementing, and/or administering an automated AML transaction monitoring system preferred
• Working knowledge of money laundering risks presented by business customers through the nature of transaction activity, geographic risks, type of business entity/formation, beneficial ownership/control and others; and comprehensive understanding of Bank Secrecy Act/USA PATRIOT Act requirements, preferred
• Understanding of legal governing documents required for different types of business formations (e.g. types of LLCs, trusts, partnerships, joint ventures, corporations etc.) and how each are owned/controlled, preferred
• Knowledge of CoBank customer types, products, and services, preferred
• Knowledge of ACBS, PAYPlus, eDocs, COSTAR, GTS, Lansa/Client or similar query tool, preferred
Benefits
• Careers with a purpose
• Time-Off Packages, 15 days of vacation, 10 paid sick days and 11 paid holidays
• Competitive Compensation & Incentive
• Hybrid work model: flexible arrangements for most positions
• Benefits Packages, including Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance
• Robust associate training and development with CoBank University
• Tuition reimbursement for higher education up to $10k per year
• Outstanding 401k: up to 6% matching and additional 3% non-elective contribution & Student Loan Match
• Community Impact: United Way Angel Day, Volunteer Day and Associate Directed Contribution
• Associate Resource Groups: creating a culture of respect and inclusion
• Recognize a fellow associate through our GEM awards
Apply Now
Apply Now