Senior AML/Fraud Investigator

• Base Pay: This position has a yearly range of $72,356 (minimum) to $108,533 (maximum), with a midpoint of $90,444. Starting pay is offered based upon an applicant’s experience and education relevant to the position.

• Paid Time Off: All Verity employees receive 11 paid holidays per year and 3 floating holidays, as well as paid time off (PTO is combined vacation and sick leave.) PTO starts accruing immediately at a rate of 20 days per year.

• Benefits: Both full and part time employees (and their family) are eligible for medical, dental, vision, and basic life insurance, with a no cost option available for employee only coverage! Employees have the option to enroll in our 401k plan and receive an employer match up to 6%.

• Other Benefits: This position is eligible for annual cash bonuses up to 1% and a 1% profit-sharing bonus to 401k accounts based on company performance.

• Great Perks: Other Verity benefits include a wellness subsidy, a transportation reimbursement benefit and education reimbursement.

Investigative and Analytical Duties

• Conduct robust and independent end-to-end investigations of complex claims of potential illegal or suspicious activity to minimize potential losses, utilizing various data sources and investigation techniques.
• Analyze financial transactions, customer profiles, and account activities to identify potential money laundering, fraud, or suspicious activities.
• Monitor systems for potential fraud trends and all risk-related losses and ensure fraud cases are filed with the credit union’s insurance.
• Act as a liaison for local Police Departments and other financial institution’s fraud departments. Compile information to report fraud to local police departments and/or for court cases.
• Perform a variety of investigative duties to assist with compliance of the BSA, Office of Foreign Assets Control (OFAC), USA PATRIOT Act, and other AML program requirements.

Compliance and Regulatory Management

• Maintain the BSA Program to ensure that the Credit Union is in compliance with all aspects of the Bank Secrecy Act. This includes aiding in the coordination and implementation of the Credit Union’s day-to-day compliance with BSA/AML/CDD/EDD/KYC/FinCEN/USA Patriot Act and related laws, regulations, policies, programs, initiatives, rules, and reporting requirements.
• Assist with BSA/AML/OFAC risk assessments annually or as needed with consideration to products, services, members, and geographies that may present BSA/AML/OFAC-related risk. Analyze and evaluate compliance risk and recommend changes to policies and procedures timely.
• Maintain an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and review and analysis of unusual/suspicious account activity.
• Keep abreast of new rules, regulatory changes, emerging financial crime patterns, and reputational risks to assist in the development, implementation, and revision of current policies and procedures.
• Prepare and write detailed Suspicious Activity Reports (SARs) to fulfill time-sensitive regulatory filing obligations.

Technology and Systems Utilization

• Utilize the Anti-Money Laundering (AML) case management tool and other internal systems to review and research suspect alerts and/or transactions and manage team workload while adhering to quality and performance.

Mentorship and Development

• Act as a BSA and AML SME and correspond with credit union staff to enhance understanding of fraud, Red Flags, and the BSA/AML program. Serve as a mentor to the risk management team by providing SME coaching and feedback related to the credit union's BSA program.
• Participate and support risk management AML projects.

• Other job-related duties as assigned.

• Communication and Leadership: Excellent communication skills, with the ability to articulate complex investigative findings, regulatory requirements, and fraud risks to stakeholders. Capable of mentoring and leading teams, providing guidance in investigations, and ensuring adherence to best practices in member service and fraud prevention.

• Advanced Analytical and Investigative Skills: Mastery in conducting thorough investigations, analyzing alerts in Verafin, performing account reviews for potential red flags, and making informed recommendations for case resolution. Proficient in handling complex cases involving fraud, BSA/AML, and regulatory compliance.

• AML and Fraud Expertise: Deep understanding of Anti-Money Laundering (AML) protocols and fraud detection techniques. Skilled in identifying and mitigating risks, supporting frontline staff with fraud-related claims, and ensuring compliance with regulatory requirements.

• Regulatory Knowledge and Compliance: In-depth knowledge of regulatory requirements, ensuring timely and accurate submission of CTRs, SARs, and other reports. Proficient in quality control and maintaining compliance with FinCEN and other regulatory bodies.

• Data Analysis Proficiency: Expertise in analyzing data from various systems (e.g., Verafin, DNA, WireExchange) to detect patterns, identify suspicious activities, and support decision-making in investigations and regulatory reporting.

• Technology Utilization: Proficient in utilizing various technologies and systems (e.g., Verafin, DNA, Check 21, WireExchange) to support investigations, transaction processing, and regulatory reporting. Ability to troubleshoot and optimize the use of these systems for enhanced efficiency.

• Critical Thinking and Problem Solving: Strong critical thinking skills, enabling the analysis of complex situations, development of innovative solutions, and effective decision-making in high-pressure scenarios involving fraud, AML, and regulatory concerns.

• Cross-Functional Collaboration: Ability to work effectively across departments, including collaboration with CRO, Human Resources, Internal Audit, and others in managing corporate and employee fraud cases, and ensuring comprehensive risk management.

• Problem-Solving: Shows advanced problem-solving skills by independently researching and resolving complex alerts and making well-informed recommendations.

• Bachelor’s degree in Finance, Accounting, Criminal Justice, Risk Management or a related field.

• Minimum of four or more years of investigative or related experience in the financial services industry with specific emphasis on BSA/AML, SDD/KYC, OFAC, and Fraud.

• SAR (Suspicious Activity Report) preparation and writing experience required.

• BSA certification required.

• Fraud certification preferred.

• Effectively communicate with diverse staff, members, and vendors

• Ability to travel within a assigned market

• Ability to lift and carry 50 pounds

• Sitting or standing for long periods of time

• Working on computers for a long period of time in an office environment