BSA/AML Alert Investigations Assistant Manager
At Bank of the West, our people are having a positive impact on the world. We're investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people's lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we're a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth. Who we are:
The L1 Alert Investigations Unit is responsible for the investigation of suspicious activity alerts from the firm's suspicious activity monitoring system, Actimize, and serves as the first line of defense for the Financial Intelligence Unit (FIU) for Bank of the West. Alert Investigations is responsible for ensuring Bank of the West complies with the Bank Secrecy Act (BSA) and the USA PATRIOT Act by monitoring transactional activity that flows through the Bank to determine if alerted activity makes sense or whether further research is needed for the firm to consider if a suspicious activity report (SAR) is warranted to be filed with the Financial Crimes Enforcement Network (FinCEN). Purpose Statement Responsible for leading and managing a team of Investigators charged with the responsibility of researching, analyzing and investigating alerts of potentially suspicious activity regarding money laundering and terrorist financing from system generated alerts (Actimize), to ensure that potentially suspicious transactions are appropriately identified within specified timeframes and escalated for further review as necessary. Performs oversight and testing of investigator's processes to ensure analysis, review and documentation of alert investigations decisions are sound and are in compliance with BSA/AML rules and regulations as well as BOTW policies and procedures. Provides guidance and support to investigators on alert investigation questions and the successful development of the team. Engage in training of new investigators and provide ongoing training to the team. Review and decision requests from investigators to escalate alerts to cases for further investigation. Essential Job Functions Ensure BSA, USA PATRIOT Act, and bank compliance and oversight as it relates to:
Conducting alert investigations for money laundering and terrorist financing Documenting and supporting research conclusions of alert investigations Timely generation and escalation of cases identifying potential suspicious activity. Thorough documentation of the decision-making process to close alerts as not suspicious or escalate alerts for further review Oversight of the alert investigation process from the point of initial detection to disposition of the investigation Recommendations for closing accounts and oversight of associated follow ups to ensure closure of accounts Develop, monitor and administer the daily, weekly, and monthly reports that reflect team and individual performance numbers and take appropriate initiative to ensure investigator adherence to goals and expectations Identify and recommend enhancements to workflow processes and detection systems Assist with the maintenance and update to the team operational procedures and ensure adherence to industry rules and regulations as well as bank policies and procedures Conduct regularly scheduled training on relevant BSA/AML, Counter Terrorist Financing (CTF) and Sanctions related topics, issues and changes Serve as subject matter expert on BSA/AML related topics and provide guidance and leadership to Investigators. Recommend and champion areas for continuous improvement or innovation in the Alert Investigations Unit Demonstrate strong leadership and exemplify personal and professional excellence to their assigned team, peers, and stakeholders including but not limited to the effective management of interpersonal relationships and constructive conflict resolution Communicate directly with branch personnel and department managers, Quality Assurance team, Internal Audit department, government or law enforcement agencies, outside service vendors and other financial institutions when appropriate Qualifications Education Bachelor's Degree or equivalent work experience required Related professional license(s) or certification(s) such as CAMS or CFCS preferred FINRA registrations a plus Required Experience Minimum of 7 years of experience involving BSA/AML compliance and conducting and managing financial investigations and/or research such as in bank/brokerage operations, security, compliance, and legal areas including criminal and/or civil litigation, researching, comprehensive reporting & documentation, and pattern recognition within the financial services industry Minimum of 2 years of experience managing, leading, training investigative teams or conducting quality assurance on investigative teams within the financial services industry. Brokerage industry experience preferred Field of Experience Excellent knowledge of bank operations, policies and procedures, systems and operating rules. Excellent knowledge of Branch or back-office operations; Customer Service Manager or BSA/AML experience at another financial institution. Thorough knowledge of BSA/AML regulations pertaining to suspicious AML/CTF- related customer activity. Thorough knowledge of the Bank's host systems and eVision, as well as the BSA/AML -related suspicious activity detection systems used by the Bank. Demonstrated knowledge and ability to identify various financial crime, general fraud, and money laundering/terrorist financing schemes. Demonstrated familiarity and competency in using in-house software and AML compliance monitoring systems such as Fortent (Searchspace), Actimize and wire transfer systems. Administrative/Technical Skills Excellent written and verbal communications skills Excellent interpersonal skills Excellent Analytical and multi-tasking skills Strong PC Skills - Windows NT, Word, Excel, PowerPoint Strong conflict management skills Good delegation skills, able to recognize skill and ability in others to whom tasks and processes can be successfully delegated Ability to follow specific goals and meet required deadlines Ability to work independently and display initiative Detailed planning and organizing skills Ability to lead, develop and motivate teams Equal Employment Opportunity Policy Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran. Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.
Salary Range:
$80K -- $100K
Minimum Qualification
Banking, Loans & Insurance, Risk & Quantitative AnalysisEstimated Salary: $20 to $28 per hour based on qualifications.
The L1 Alert Investigations Unit is responsible for the investigation of suspicious activity alerts from the firm's suspicious activity monitoring system, Actimize, and serves as the first line of defense for the Financial Intelligence Unit (FIU) for Bank of the West. Alert Investigations is responsible for ensuring Bank of the West complies with the Bank Secrecy Act (BSA) and the USA PATRIOT Act by monitoring transactional activity that flows through the Bank to determine if alerted activity makes sense or whether further research is needed for the firm to consider if a suspicious activity report (SAR) is warranted to be filed with the Financial Crimes Enforcement Network (FinCEN). Purpose Statement Responsible for leading and managing a team of Investigators charged with the responsibility of researching, analyzing and investigating alerts of potentially suspicious activity regarding money laundering and terrorist financing from system generated alerts (Actimize), to ensure that potentially suspicious transactions are appropriately identified within specified timeframes and escalated for further review as necessary. Performs oversight and testing of investigator's processes to ensure analysis, review and documentation of alert investigations decisions are sound and are in compliance with BSA/AML rules and regulations as well as BOTW policies and procedures. Provides guidance and support to investigators on alert investigation questions and the successful development of the team. Engage in training of new investigators and provide ongoing training to the team. Review and decision requests from investigators to escalate alerts to cases for further investigation. Essential Job Functions Ensure BSA, USA PATRIOT Act, and bank compliance and oversight as it relates to:
Conducting alert investigations for money laundering and terrorist financing Documenting and supporting research conclusions of alert investigations Timely generation and escalation of cases identifying potential suspicious activity. Thorough documentation of the decision-making process to close alerts as not suspicious or escalate alerts for further review Oversight of the alert investigation process from the point of initial detection to disposition of the investigation Recommendations for closing accounts and oversight of associated follow ups to ensure closure of accounts Develop, monitor and administer the daily, weekly, and monthly reports that reflect team and individual performance numbers and take appropriate initiative to ensure investigator adherence to goals and expectations Identify and recommend enhancements to workflow processes and detection systems Assist with the maintenance and update to the team operational procedures and ensure adherence to industry rules and regulations as well as bank policies and procedures Conduct regularly scheduled training on relevant BSA/AML, Counter Terrorist Financing (CTF) and Sanctions related topics, issues and changes Serve as subject matter expert on BSA/AML related topics and provide guidance and leadership to Investigators. Recommend and champion areas for continuous improvement or innovation in the Alert Investigations Unit Demonstrate strong leadership and exemplify personal and professional excellence to their assigned team, peers, and stakeholders including but not limited to the effective management of interpersonal relationships and constructive conflict resolution Communicate directly with branch personnel and department managers, Quality Assurance team, Internal Audit department, government or law enforcement agencies, outside service vendors and other financial institutions when appropriate Qualifications Education Bachelor's Degree or equivalent work experience required Related professional license(s) or certification(s) such as CAMS or CFCS preferred FINRA registrations a plus Required Experience Minimum of 7 years of experience involving BSA/AML compliance and conducting and managing financial investigations and/or research such as in bank/brokerage operations, security, compliance, and legal areas including criminal and/or civil litigation, researching, comprehensive reporting & documentation, and pattern recognition within the financial services industry Minimum of 2 years of experience managing, leading, training investigative teams or conducting quality assurance on investigative teams within the financial services industry. Brokerage industry experience preferred Field of Experience Excellent knowledge of bank operations, policies and procedures, systems and operating rules. Excellent knowledge of Branch or back-office operations; Customer Service Manager or BSA/AML experience at another financial institution. Thorough knowledge of BSA/AML regulations pertaining to suspicious AML/CTF- related customer activity. Thorough knowledge of the Bank's host systems and eVision, as well as the BSA/AML -related suspicious activity detection systems used by the Bank. Demonstrated knowledge and ability to identify various financial crime, general fraud, and money laundering/terrorist financing schemes. Demonstrated familiarity and competency in using in-house software and AML compliance monitoring systems such as Fortent (Searchspace), Actimize and wire transfer systems. Administrative/Technical Skills Excellent written and verbal communications skills Excellent interpersonal skills Excellent Analytical and multi-tasking skills Strong PC Skills - Windows NT, Word, Excel, PowerPoint Strong conflict management skills Good delegation skills, able to recognize skill and ability in others to whom tasks and processes can be successfully delegated Ability to follow specific goals and meet required deadlines Ability to work independently and display initiative Detailed planning and organizing skills Ability to lead, develop and motivate teams Equal Employment Opportunity Policy Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran. Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.
Salary Range:
$80K -- $100K
Minimum Qualification
Banking, Loans & Insurance, Risk & Quantitative AnalysisEstimated Salary: $20 to $28 per hour based on qualifications.
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