High Risk Client Monitoring Analyst
Webster Bank

New Britain, Connecticut

Posted in Banking


This job has expired.

Job Info


If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster's values, these set us apart as a bank and as an employer.

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Webster Bank is seeking a High Risk Client Monitoring Analyst with knowledge of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) requirements to fulfill the following duties:

  • Conduct financial investigations to mitigate regulatory, reputational and compliance risk for Webster Bank, N.A. and its affiliates.
  • Conduct Office of Foreign Asset Controls (OFAC) and USA Patriot Act 314a investigations
  • Conduct Enhanced Due Diligence (EDD) monitoring of high-risk customers, cash intensive businesses, Politically Exposed People (PEP), Money Services Businesses (MSBs), foreign customers, ATM contractors, third party senders, non-bank financial institutions (NBFIs) etc.
  • Conduct customer data mining, utilizing internal anti-money laundering interdiction software to identify patterns of suspicious activity related to money laundering, terrorist financing and/or other related financial crimes.
  • Review internal account relationship/activities where money laundering or related misconduct allegations are possible.
  • Prepare detailed investigation reports that logically outline investigative steps taken, research completed, and recommendations made, utilizing analytical judgment and knowledge of the Bank Secrecy Act and Anti-Money Laundering laws and regulations (BSA).
  • Interpret and maintain a strong knowledge of all current and proposed BSA/AML laws and regulations.
  • Manage data collection and quality control of investigative work product.
  • As appropriate, communicate the results of investigations to the Senior Managing Director of Bank Secrecy Act program (BSA Officer).
  • Preparation of the appropriate management reports summarizing findings and recommendations.
  • May be called to testify in State and Federal civil/criminal court proceedings
Key Responsibilities:
  • Exhibits independent responsibility and autonomy in their daily tasks, ensuring timely resolution of alerts, cases and other assignments.
  • Monitors client transactions across multiple delivery channels to identify trends and patterns of suspicious activity and financial crimes and takes appropriate action.
  • Recommends closure of accounts deemed risky or suspicious
  • Collect, evaluate and recommend whether supporting documentation is sufficient to validate the resolution of alerts and open cases. File SARs when necessary.
  • Demonstrates BSA/AML compliance knowledge during their duties; including but not limited to, BSA, U.S.A. Patriot Act, CIP and OFAC regulations.
  • Escalates to management potential high-risk clients, suspicious activity and related financial crimes to mitigate risks.
Education, Experience & Skills:
  • Bachelor's degree preferred in Business, Accounting, Finance, Economics, Criminal Justice or related field
  • 3+ years of experience in corporate compliance, banking, investigations or related BSA/AML field.
  • Knowledge of and experience with BSA (Bank Secrecy Act) and AML (Anti Money Laundering) regulations
  • Strong analytical, computer, presentation, and written and verbal communication skills.
  • ACAMS certification preferred
The estimated salary range for this position is $65,000 to $85,000. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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This job has expired.

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