Aml Fraud Jobs (NOW HIRING)

Salem Five is a growing regional financial services organization with a rich history of over 170 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices. 

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. 

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.   

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

Assists with the development and, implementation of the Bank's Secrecy Act and AML Program; makes recommendations to Management when appropriate; and is required to submit reports to the Management detailing the Bank's BSA and AML investigations.  Other duties may be assigned from time to time due to business necessity. 

Key Responsibilities:

• Using the Bank’s AML/Fraud Monitoring system, investigate and assess alerts relating to potential money laundering and fraud risks in the organization; make use of transactional and customer records, reports and publicly available information to identify and research patterns and anomalies in customer data to detect suspicious activity related to money laundering, underlying criminal activity or structuring; document investigations of unusual banking activity to support decision-making for federal Suspicious Activity Reports; provide investigative results to the Bank’s AML Committee for review.
• Prepare clear and accurate Suspicious Activity Reports for filing with the federal government.
• Provide support and back-up for the daily Currency Transaction Reporting processing, ensuring timely and accurate filing.  Maintain well organized records of CTR submissions and acknowledgments. Review OFAC alerts from the Bank’s AML/Fraud Monitoring software, ensuring timely response to OFAC’s SDN List and other national and international security lists. 
• Upload FinCEN’s bi-weekly 314(a) files and reviewing/decisioning all alerts generated.  Maintain records supporting results of same in compliance with regulatory requirements.
• Using the AML/Fraud Monitoring software and system reports, identify high risk customers for enhanced due diligence (EDD).  Maintain accurate and complete records on the Bank’s high risk customers, including documentation of enhanced monitoring.
• Investigate unusual/suspicious activity reported by the various divisions and advise the AML Committee accordingly.
• Assist in the development and administration of BSA/AML training and awareness programs for staff.
• Perform and document the review of the Bank’s Exempt Customer List in compliance with IRS rules and file required exemption renewals on a timely basis.
• Perform and document monthly data validation reports of the Bank’s AML/Fraud Monitoring system reporting any identified issued to the BSA Officer in a timely manner.
• Record and monitor sales of monetary instruments for unusual activity and document patterns.  Provide periodic reports of same to the AML Committee.

EDUCATION and EXPERIENCE

At least two years of related banking experience.  Must have knowledge of Bank Secrecy Act regulations and requirements and general knowledge of money laundering. Associates degree (A.A.) or equivalent from a two-year college or technical school preferred.

COMPUTER SKILLS

Demonstrated capability and familiarity with Microsoft products including creation and maintenance of spreadsheet calculations/formulas utilizing Excel, preparation and production of correspondence, reports, and related record keeping utilizing Word. Strong skills in Internet-based and system-based research techniques, e-mail communications, and ability to learn other related software applications required.  Ability to learn and use new software products.  Must possess a working knowledge of the Fiserv DNA core banking system as well as the Bank’s policies and procedures related to Security and Bank Secrecy Act compliance. Familiarity with suspicious transaction monitoring systems. 

Benefits/Incentives: We offer a comprehensive benefits package designed to support your wellbeing and success, including medical, dental, and vision coverage; Flexible Spending and Health Savings Accounts; 401(k) matching; and tuition reimbursement. You will also enjoy additional perks such as our employee referral program, annual holiday reception, summer family outing, and more.

Salary Range:          $52,000 to $65,000   

The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, and performance. This range may be modified in the future.  

PHYSICAL DEMANDS:  

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear.  The employee is occasionally required to stand; walk; climb or balance; and stoop, kneel, crouch, or crawl.  Specific vision abilities required by this job include close vision.  

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you. 

No unsolicited resumes accepted from agencies.