Job Order #2139

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Posted Date: 4/10/2014
Job Category:
Position Title: AML Compliance Analyst
Salary Range:
Location: Illinois, USA
Chicago, Illinois, USA
Desired Skills:
Name Level Experience Required
Aml No
Problem Solving No
Trading No
Description:

Title: Anti Money Laundering Compliance Analyst

TOP 3 SKILLS
1. 3 to 5 years of Risk Assessment experience within a F&I organisation
2. Experience working on improving risk assessment processes within an enterprise organisation
3. Experience with various financial regulations (eg. OFAC, BSA/AML, and USA PATRIOT Act)

MANAGER NOTES
- Candidates with specific AML experience and/or the ACAMS certificate is a big nice to have
- Candidates coming from an attorney background in the past seem to do the best in this sort of role as they are able to interpret regulations very well.
- Potential for full time if they do a great job in this role over the length of the contract.
- One step face to face interview. Candidates must be local and able to interview in person.
- Must be comfortable with Excel/Word. Experience with various banking systems in the past is a nice to have.

Description
• The Senior Quality Assurance/Risk Analyst is responsible for ensuring the requirements of the U.S. AML Program are maintained at level commensurate with regulatory expectations. This role performs Risk Assessments and Quality Assurance reviews to evaluate the effectiveness of AML policies and controls in mitigating money laundering and terrorist financing risks. The Senior Quality Assurance/Risk Analyst reviews and analyzes key performance indicators of AML Compliance to identify areas of potential risk or non-compliance. This role assists Bank management in communicating and implementing changes to AML policies and procedures resulting from Risk Assessments and Quality Assurance review findings or changes in regulatory requirements.

Risk Assessment and Quality Assurance Program Execution (65%)
• Perform ongoing complex AML Risk Assessments and Quality Assurance reviews to ensure AML governance and controls are operating appropriately. Identify and analyze factors which may affect risk mitigation and protection, as well as compliance with AML and OFAC regulatory requirements.
• Anticipate potential consequences of unaddressed risk factors or shortfalls in compliance and recommend appropriate controls.
• Elevate high profile or high risk cases to the Quality Assurance Manager and LOB management to ensure visibility and prompt resolution.
• Perform ongoing validation of monitoring strategies to ensure appropriate AML governance and control. Compile and analyze analytics data from a variety of sources and identify observations of trends and recommendations to optimize data.
• Analyze key performance indicators to ensure requirements of the AML policies and programs are maintained at a level commensurate with regulatory expectations. Execute appropriate statistical or mathematical tests to recommend appropriate threshold changes.
• Prepare complete, accurate documentation of Risk Assessments and Quality Assurance reviews. Report findings to Quality Assurance Manager and AML Risk & Controls Manager, and provide timely follow-up on outstanding issues.
• Validate that issues identified through the Risk Assessment and Quality Assurance review processes are promptly addressed. Provide guidance to less experienced Quality Assurance/Risk Analysts in developing and implementing solutions.

OFAC/AML Governance (35%)
• Develop and maintain a high level of expertise in BSA, OFAC, USA PATRIOT Act and related regulations, directives and guidance.
• Provide input to AML staff regarding emerging issues and interpretation of regulations.
• Identify training needs based on gaps identified through Risk Assessments and Quality Assurance reviews.
• Identify possible enhancements to AML tools and processes and communicate them to the Quality Assurance Manager.
• Assist Bank management and staff in communicating and implementing changes to AML policies and procedures.
Qualifications
Knowledge and Skills:
• 3 - 5 years AML/BSA or related Compliance experience
• Bachelor’s degree
• Strong knowledge and understanding of OFAC, BSA/AML, and USA PATRIOT Act and risk management principles
• Understanding of key AML monitoring systems, NORKOM is a plus
• Demonstrated ability in applying statistical techniques
• Proven mathematical, analytical, planning, problem solving, and decision-making skills
• Working knowledge of Bank operating environment and applicable AML systems, including transaction monitoring.



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