The Role
The Due Diligence Analyst reviews customer records for potential money laundering and fraud, ensures KYC compliance, and documents findings in reports.
Summary Generated by Built In
Job Summary & Responsibilities
College degree preferred
SUMMARY: The primary purpose of this position is to review, assess, and validate customer records to aide in the detection of possible money laundering, terrorist financing, and fraud using risk-based approach methods while ensuring compliance with the Bank's established BSA/AML program.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties and special projects may be assigned.
- Review KYC for completeness and accuracy as part of customer validation in order to assess and document the risks associated with that customer.
- Identify and address items through day-to-day assignments to ensure the Bank's KYC and CIP standards have been met.
- Ensure ongoing due diligence efforts and KYC are maintained while identifying substantive changes to customer profiles.
- Perform AML Screening/CDD/EDD reviews on prospects and new/existing customers in accordance with the Bank's policies and procedures.
- Review and resolve EDD Verifier alerts; escalate findings to Manager when appropriate.
- Perform searches utilizing Internet sources and/or third-party vendors (i.e. Google, LexisNexis and/or World Compliance) to determine negative news and obtain due diligence information for prospects and new/existing customers.
- Respond to daily inquiries from peers, front-line and management regarding KYC/CIP and due diligence matters, when appropriate.
- Communicate effectively with peers, front-line and management when requesting information or documentation and addressing concerns or findings.
- Adhere to all designated time frames, manage workflow to the specified deadlines and complete responsibilities in a satisfactory manner.
- Thoroughly document findings by preparing reports in a manner that is clear and comprehensible to BSA supervisors/managers, internal auditors and regulatory examiners.
- Report and escalate all concerns or negative findings clearly and objectively to Manager.
- Interact with bank examiners, internal auditors, and compliance personnel during BSA and AML related audits, if necessary.
- Complete all job-related training in a timely manner and attend seminars or continuing education, as directed.
- Participate in team meetings.
- Perform any other assignments as directed by Manager.
- Ensure all customer records are properly completed and communicate deficiencies to appropriate party and/or Manager.
- Exercise discretion in setting priorities, identify customer records that require further review and take action to obtain and follow-up on attaining the information and/or documentation requested.
- Report positive EDD Verifier PEP matches and negative news findings to Manager.
- Actively assist the Manager in special projects that are both system related or involve special investigations or reviews.
- Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
- Adheres to Bank policies and procedures and completes required training.
- Identifies and reports suspicious activity.
EDUCATION
College degree preferred
EXPERIENCE
- Minimum 5-7 years banking experience, with emphasis on BSA Compliance and due diligence in accordance with KYC, CIP, AML/BSA guidelines required
CERTIFICATES, LICENSES, REGISTRATIONS
- Certified Anti-Money Laundering Specialist (CAMS) preferred
- Anti-Money Laundering Certified Associate (AMLCA) preferred
ADDITIONAL INFORMATION
- Candidates residing in locations within BankUnited's footprint may be given preference.
Top Skills
Google
Lexisnexis
World Compliance
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The Company
What We Do
BankUnited, Inc., with total consolidated assets of $35.2 billion at March 31, 2021, is a bank holding company with one wholly owned subsidiary, BankUnited.
BankUnited, a national banking association headquartered in Miami Lakes, Florida, provides a full range of banking services to individual and corporate customers through banking centers in Florida and New York. The Bank also provides certain commercial lending and deposit products on a national platform.
Here at BankUnited, we endeavor to provide, through experienced lending and relationship banking teams, personalized customer service and offer a full range of traditional banking products and services to both commercial and retail customers.
