Senior AML Specialist

Category: Compliance/Legal
Location: Chicago, IL
Job ID: 12141
Posted Date: May 14, 2019

More than 30 years ago, E*TRADE pioneered the online brokerage industry by executing the first-ever electronic individual investor trade. While the landscape of our industry has changed dramatically, our culture of innovation and drive to make online trading accessible to everyone continues to drive us forward. We believe in challenging the status quo, fostering an environment of curiosity and learning, and, above all, putting our customers first.

RESPONSIBILITIES

This position is responsible for analyzing suspicious activity through reviewing reports, alerts and researching customer information regarding accounts and activity suspected of being related to money laundering, and/or OFAC issues. This position protects the company’s reputation by ensuring compliance with the Bank Secrecy Act, Anti-Money laundering regulations and the USA PATRIOT Act. Applicants will be senior members of the AML Unit who will provide expertise and handle analytical research and projects on high risk customers, more complex special projects and mentoring unit staff.

RESPONSIBILITIES:

  • Responsible for analyzing and monitoring various forms of potentially suspicious transactional activity and customer online banking and brokerage activity to identify potential money laundering risks.
  • Reviews client transactions that may violate anti-money laundering (such as the Bank Secrecy Act, in the US) or economic sanctions (such as the programs administered by the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”)) laws and regulations of multiple countries in which the firm conducts business. Assesses these transactions by consulting the client’s profile and past transactions with the company as well as public sources of information. Escalate issues to management for final decision-making.
  • Reviews alerts, communications and workflows related to brokerage/bank customer activity, OFAC compliance, negative news articles and cash transactions, and analyzes the money laundering risks thoroughly and timely. Reviews and respond to money laundering-related queries from other departments.
  • Performs detailed research, analysis and due diligence on the backgrounds of high risk customers and prepares written memos to management.
  • Follows up with additional points of contact throughout and outside of the organization as needed to identify additional information in support of the case.
  • Participates in the Information Sharing compliance program (USA PATRIOT Act sections 314(a) and 314(b)).
  • Completes reports to be filed with the government regulatory agencies (such as Suspicious Activity Reports (“SARs”) with the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and Blocked or Rejected Transaction Reports with OFAC, in the US) in compliance with the FinCEN Regulations, Bank Secrecy Act and other federal programs related to suspicious activity.
  • Prepares and delivers AML-related training within the department/company and conducts other research projects, investigation and participates in department special projects as requested by the manager.
  • Assists in the implementation of key AML compliance programs such as OFAC sanctions restrictions and high risk customer due diligence, which require meticulous attention to detail.
  • Reviews suspicious trading with or without money movement, including insider, pre-arranged, wash, futures or foreign exchange trading and securities deposits/transfers.
  • Assists with more complex investigations, corporate-wide AML training programs and other special projects as assigned. Mentors, trains and assists in supervising junior level AML analysts.
REQUIREMENTS

Basic:

  • Bachelor’s degree from an accredited and reputable institution in an analytical field.

Preferred:

  • Work experience at a financial institution or at a government agency that regulates financial institutions is preferred.
  • Previous financial services industry, investigations, brokerage or banking operations experience required. This is not an entry level position.
  • Knowledge of AML regulations and statutes, such as Bank Secrecy Act and USA PATRIOT Act, etc.
  • Excellent research, communication, writing and presentation skills.
  • Ability to analyze and to interpret information critically and present findings.
  • Strong computer skills (Microsoft Suite) and ability to use various internal company systems
  • Ability to be a team player and willingness to take on new challenges

Licenses and Certifications:

  • Candidates with a Series 7, 24, or CAMS designation strongly considered.

We offer a competitive and comprehensive benefits package. Please visit https://www.etradecareers.com/why-work-at-etrade/employee-benefits/ to learn more about the opportunities.

E*TRADE Financial is an Equal Opportunity Employer who encourages diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, age, disability, citizenship, marital status, sexual orientation, gender identity, military or protected veteran status, or any other characteristic protected by applicable law.

Upcoming E*TRADE career events

Tue 18

Atlanta Choice Career Fair

June 18 @ 11:00 am - 2:00 pm
DoubleTree By Hilton Atlanta 4386 Chamblee Dunwoody Road Atlanta GA 30341 United States