Quontic Bank

Job Highlights

Title: Due Diligence Analyst

Type: Full Time

Experience: 2-4 Years

Function: Banking

Location: Osceola, WA, United States

Company: MidWestOne Bank

Company Profile

MidWestOne Bank offers personal and business banking services, including loans and mortgages, and also provides wealth management and digital banking solutions.

Job Profile

The bank is hiring a Due Diligence Analyst who will be responsible for performing and documenting due diligence reviews on new, high-risk, and existing customers to ensure compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, and associated internal policies and procedures.

Investigate unusual activity, compile and review transactional data, and support regulatory reporting requirements to mitigate money laundering risk.

Education Level

• Bachelor’s Degree or equivalent combination of post-high school education and related work experience.

Work Experience

• 2-4 years of prior bank experience.

License/Certification

• ACAMS Certification (preferred)

Duties/Responsibilities

• Analyze and make decisions on CDD/EDD alerts in Financial Crimes AML/CFT software.
• Assist in the management of the systems and controls used within the Financial Crimes department to identify and manage the CDD/EDD processes.
• Conduct Quality Assurance reviews for AML/CFT operational processes, including but not limited to CTRs, Monetary Instrument log, Alerts, and Resolved Cases.
• Continuously review existing processes to implement operational efficiencies.
• Identify High-Risk Customers through analysis of Financial Crimes AML/CFT software for Enhanced Due Diligence (EDD).
• On-going professional development and actively participates in the bank’s training and development programs, and commitment to learning.
• Oversee the Customer Due Diligence process utilizing the bank’s Financial Crimes AML/CFT software.
• Prepare documents that are requested as part of examinations and audits.
• Prepare monthly and weekly CDD reports for Executive Management.
• Receive, review, and process requests from law enforcement agencies or other Financial Institutions in a timely and efficient manner.
• Recommend risk rating adjustments for customers based on transaction reviews and updated customer risk reviews.
• Serve as subject matter expert for bank staff on AML/CFT-related issues.
• Stay current with AML/CFT regulations, FinCEN guidelines, FFIEC Examination Manual updates, and maintain proficiency throughout training.
• Perform other duties as assigned.

Skills/Knowledge/Abilities

• Specific knowledge of Anti Money Laundering/Countering the Financing of Terrorism/USA Patriot Act, OFAC, and Security Regulations.
• Specific knowledge of High-Risk Customer, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
• Strong analytical, investigative, and documentation skills, with attention to detail in reviewing customer data.

Working Conditions

• High attention to detail
• Independent and teamwork
• Office or remote environment
• Regular computer use
• Standard business hours

Benefits/Perks

• 100% vested 401(k) Retirement Plan with 6% company match
• Competitive base compensation
• Continuous learning opportunities
• Critical Illness and Accident insurance, and Hospital Indemnity
• Employer-provided group life insurance
• Employer-provided long/short-term disability insurance
• Flex spending plan and Health savings accounts with employer contribution
• Free banking services
• Medical, Dental, and Vision insurance
• Paid Time Off, Paid Holidays, Parental/Grandparent Leave
• Student Loan Debt Reduction Program
• Wellness Program

Employer’s Statement

MidWestOne Bank is an Equal Opportunity Employer.