Sr. Analyst High Risk EDD

GENERAL SUMMARY

The Senior High Risk Enhanced Due Diligence (EDD) Analyst is responsible for reviewing systematic Anti-Money-Laundering (AML) alerts and Customer Due Diligence (CDD) alerts and conducting annual High Risk Enhanced Due Diligence (EDD) reviews on high-risk customers - consumer and commercial.

The Senior High Risk EDD Analyst has an understanding of key topics within the high risk client lifecycle management process, including: Source of Wealth corroboration, negative news and adverse media screening, collection of required Ultimate Beneficial Owner (UBO) documentation, nature and purpose of account, monitoring/mitigating of potential suspicious transactions, changes in regulatory rules, recent trends and enforcement actions, peer group leading practices, client risk rating, other AML related red flags.

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

Effectively and voluntarily takes on additional roles and responsibilities including participating in special projects; and working closely with branches and business lines.

ESSENTIAL FUNCTIONS

• Conducts comprehensive investigations of customers by utilizing CIP information, occupation, line of business, income methods, and transaction activity as identified by the AML Solution based on predefined risks.
• Contacts branches and business lines for clarification of client profile and/or account activity, as needed.
• Performs transaction analysis of several types of businesses and captures a strong understanding of account purposes.
• Prepares detailed High Risk EDD Reports for complex relationships and higher risk clients, including Politically Exposed Persons, Non-Bank Financial Institutions, Privately Owned ATM, Marijuana Related Businesses, etc., which include transactional analysis summaries and negative news findings utilizing using tools such as Internet search engines and other non-documentary search engines.
• Analyzes system generated and manually created alerts for high-risk client review and suspicious activities.
• Completes SARs (if necessary) in a timely manner.
• Stays well-informed on current money laundering and terrorist financing behaviors, issues, criminal typologies, industry best practices, regulations, and developing trends.

QUALIFICATIONS

Education:

• Bachelor's Degree in related fields of business or finance preferred.
• Certified Anti-Money Laundering Specialist (CAMS) designation, preferred.

Experience:

• Minimum 5 years' experience in BSA/AML Compliance including writing and preparing Suspicious Activity Reports (SARs) in accordance with applicable regulatory requirements or applicable experience.
• Proven ability to balance quality and quantity of reports.

Skills/Ability:

• Certified Anti-Money Laundering Specialist (CAMS) designation, preferred.
• Strong knowledge of the laws applicable to money laundering, including Bank Secrecy Act, the USA PATRIOT Act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements.
• Strong understanding of banking products and services.
• Strong research skills including experience with online search tools.
• Strong proficiency in Microsoft Word, Excel, Access, PowerPoint, and Outlook.
• Strong writing, analytical and communication skills.
• Able to multitask and complete projects on time, often on tight deadlines.
• Strong relationship building skills both internally and externally.
• Develops relationships within appropriate levels of management for issue identification and resolution.
• Flexibility to adapt to changing priorities to meet business needs.

OTHER CONSIDERATIONS

Cooperates and works effectively with others; recognizes, supports, and respects others. Regulatory and Internal Audit examination results will be considered in evaluating the individual's performance.

OTHER DETAILS

$28.85 - $33.65 / 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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