AML Geographic Risk Investigations Officer

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GENERAL SUMMARY

The AML Geographic Risk Investigations Officer is a key member of the Anti-Money Laundering (AML) and Office of Foreign Assets Control ("OFAC") compliance team. This role is responsible for the analysis of financial transactions and client relationships, with a specific focus on geographical risk and high-risk jurisdictions. The AML Geographic Risk Investigations Officer performs transaction monitoring, conducting case investigations, and ensuring adherence to regulatory requirements to mitigate risks.

Assists in all aspects of bank wide oversight for the Office of Foreign Assets Control ("OFAC") as regulated by the U.S. Department of Treasury. Other duties may be assigned, which may include the monitoring of activities relating to the FFIEC's Bank Secrecy Act Anti-Money Laundering Examination Manual's guidance and Advisories.

This position requires strong ownership of the learning process, prioritization and substantial analytic skills, case management skills and an ability to drive positive change. Requiring the individual to exercise sound judgment, attention to detail, and to observe the highest degree of confidentiality and accuracy in the handling of information received while performing responsibilities.

ESSENTIAL FUNCTIONS

• Stay abreast of changes in international regulations, sanctions programs (e.g., OFAC), and developing geopolitical trends.
• Assist in the development, implementation, and enhancement to applicable procedures and methodologies related to geographic risk assessment.
• Assist with the analysis and enhancements of high-risk country program, ensuring timely updates are made to systems, applications and documented policies and procedures as required.
• Conduct Bridger Insight system tuning analysis at least annually.
• Assist branches and other business units in reviews of potential OFAC suspects, ensuring timely and documented response for each suspect case.
• Monitor thresholds tailored for specific corridor risks.
• Periodic clustering analysis on KYC data for shared identifiers.
• Review frequent changes in occupation and employer.
• Review dormant accounts for sudden movement of funds.
• Review cashier's check for possible Money Mule activity.
• Perform risk-based analysis of clients, counterparties, and transactions involving high-risk jurisdictions and emerging markets.
• Conduct Adverse Media / Negative News searches on entities / activities that alerted or were sampled.
• Send Request for Information (RFI) business units to provide supporting documentation and or reasoning / explanation for alerted / sampled transactions.
• Investigate and analyze system-generated alerts and other referrals for potentially suspicious activity, with a focus on geographic risk factors and typologies.
• Conduct thorough investigations of suspicious activities, documenting findings clearly and concisely, and escalating potential issues to management for review.
• Prepare and submit Suspicious Activity Reports (SARs) for activity determined to be suspicious.
• Ensure accurate tracking of assignments and requests for documentation for proper tracking of deadlines, as well as following up on pending items in a timely manner.
• Assist AVP AML Economic Sanctions Manager in approving team members' complete assignments.
• Other responsibilities assigned by the AVP AML Economic Sanctions Manager.

QUALIFICATIONS

o Bachelor's degree in fields of business or finance; or 10 plus years in banking.

o Professional certification (ACAMS) is a plus.

o Minimum three or more years of investigative experience with specific emphasis on BSA / AML / CFT and OFAC laws.

o Ability to apply knowledge in assessing bank policies, procedures, controls and risk management practices.

o Ability to understand changes to BSA / AML laws and regulations and report impact of changes to senior management.

o Strong analytical and problem resolution skills.

o Excellent communication skills, both written and verbal.

o Ability to work well independently and with others.

o Ability to multi-task prioritize deliverables in a timely and effective manner.

o Flexibility to adapt to changing priorities to meet business needs.

o Proficient in the Microsoft suite of products and Internet-based research.

Other Detail

$36.06 - $39.90 / hour

Pay determined based on job-related knowledge, skills, experience, and location.

This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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