AML QC Analyst II

Overview

The AML QC Team will focus on conducting Quality Control (QC) reviews on the outcomes of triaged AML alerts and completed AML investigations. The QC team is responsible for filing any necessary Suspicious Activity Reports (SARs) to the Financial Crimes Enforcement Network (FinCEN). The AML QC Analyst II is responsible for:

• Conducting ongoing, scheduled QC reviews for Coastal Community Bank’s (CCB) AML functions, maintaining a high degree of productivity and accuracy in reviews and filings.
• May be tapped for special projects and encouraged to suggest enhancements to team processes.
• Assisting with periodic quantitative and qualitative analysis of the AML documentation needed across all business lines for customers, products, services, and channels.

Responsibilities

• Conduct Quality Control audits on team workflow processes and their timeliness, and prepare summaries for management regarding QC reviews, including observations and recommendations.

• Process cases with an increased complexity level such as fraud rings, high-dollar, high-risk cases independently.

• Identify trends and/or typologies within QC reviews of deficiencies in the AML review and documentation process, and recommend enhancements based on trends in QC data.

• Maintain knowledge of Banking products and services, including those considered complex or High Risk such as Money Service Businesses (MSBs), Private ATM owners, Marijuana Related Businesses (MRBs); as well as knowledge of current and former Banking as a Service (BaaS) partners and their relevant products and services.

• May partner with the AML QC Manager and Risk Operations leadership on the development of written procedures and processes to ensure completion of required tasks. May assist in the development of enterprise-wide policies, procedures, and required risk assessments.

• Follow all applicable federal laws, rules, and regulations relating to Anti-Money Laundering (AML), including the Bank Secrecy Act (BSA).

• Support Financial Crimes Compliance projects as requested.

• Shadow and support more junior analysts as needed.

• Adhere to defined Service Level Agreement (SLA) timelines.

• Provide internal service in accordance with Coastal Core Values.

Qualifications

• Strong knowledge of Bank Secrecy Act, USA Patriot Act, OFAC and related regulations.

• Ability to explain BSA concepts with confidence: AML, Customer Information Program (CIP), KYC, Customer Due Diligence (CDD), EDD, OFAC, Suspicious Activity Reporting (SAR).

• Ability to organize, analyze, and interpret data to explain complex irregularities or trends.

• Ability to develop, create, and improve systems, structures, and processes.

• Ability to observe strict confidentiality requirements.

• Strong analytical skills and ability to resolve complex problems with minimal guidance.

• Strong attention to detail and accuracy, strong research skills from all available sources.

• Effective time management, planning, and organizational skills.

• Ability to manage multiple tasks/projects and deadlines simultaneously.

• Self-starter requiring little to no prompting from supervisors.

• Strong verbal and written communication skills.

• Intermediate Excel capabilities.

Education/Experience

• 3-5 years of previous financial institution experience with a significant emphasis in the area of anti-money laundering compliance, consumer compliance, audit/bank operations, or equivalent experience.

• 2-4 years of experience in audit, quality control/quality assurance preferred, or equivalent experience.

• Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), or other relevant certification.

• Advanced knowledge of the Bank Secrecy Act, USA PATRIOT Act, Office of Foreign Assets Control (OFAC) requirements.

• Ability to develop and/or enhance AML operating processes to achieve high levels of effectiveness, including SAR filing.

• Experience with Microsoft suite of products including Outlook, Word, and Excel.