Job Summary 

Under limited supervision, uses specialized knowledge and skills in securities and/or banking industry compliance obtained through experience, specialized training and/or certification to monitor and investigate transactions for suspicious activity to ensure compliance with AML rules and regulations. Leads projects of moderate scope and complexity and serves as a technical advisor to various business lines. Resolves or recommends solutions to complex problems. Extensive contact with internal customers is required to identify, research and resolve problems.

Essential Duties and Responsibilities

• Investigate potentially suspicious activity that may arise from account surveillance, branch escalations, risk alerts, regulatory investigations, and matters otherwise escalated to the AML (anti-money laundering) Group by the Business, Compliance, Legal, Risk or other Firm divisions where account transactional activity is at issue.
• Conduct appropriate due diligence related to the potential suspicious activity by reviewing client background information, securities transactions, and fund movements as necessary.
• Conduct due diligence searches in various third-party and internal databases.
• Prepare and lead AML trainings of targeted divisions within the Firm.
• Perform analysis and reviews utilizing internal and third-party research tools.
• Administers policies and procedures to ensure compliance with regulations related to money laundering included in the US PATRIOT Act.
• Monitor regulatory developments and industry trends to facilitate incorporation into the Firms’ AML program.
• Trains colleagues/peers on internal AML policies, rules, and regulations.
• Develops documentation related to AML issues to enhance corporate policies.
• Maintains fraud prevention system, including testing and installation of software updates.
• Informs senior compliance management about issues that may involve rule violations or potential liability.
• Maintains currency in laws and regulations pertaining to anti-money laundering compliance.
• Performs other duties and responsibilities as assigned.

Knowledge, Skills, and Abilities

• Concepts, practices, and procedures of the securities industry and/or banking compliance reviews.
• Rules and regulations of the US PATRIOT Act.
• Fundamental investment concepts, practices, and procedures used in the securities industry.
• Principles of banking and finance and securities industry operations.
• Financial markets and products.
• Administering anti-money laundering policies and procedures.
• Analyzing transactional activity to identify suspicious transactions.
• Developing and delivering technical training to others.
• Planning and scheduling work to meet regulatory, organizational and regulatory requirements.
• Identifying and applying appropriate compliance monitoring procedures and tests.
• Making rule-based and analytical decisions.
• Gather information, identify linkages and trends and apply findings to assignments.
• Interpret and apply anti-money laundering regulations and identify and recommend compliance changes as appropriate.
• Work under pressure on multiple tasks concurrently and meet deadlines in a fast-paced work environment with frequent interruptions and changing priorities.
• Communicate effectively, both orally and in writing.
• Work independently as well as collaboratively within a team environment.
• Provide a high level of customer service.
• Maintain confidentiality.
• Maintain currency in anti-money laundering rules and regulations and compliance examination techniques and best practices.
• Bachelor's Degree required
• A minimum of 1 year of FIU (Financial Intelligence Unit) experience required
• A minimum of 3 years of AML (Anti-Money Laundering) experience required

This is the pay range that Magnit reasonably expects to pay for this position: $38.92/hour - $41.73/hour

Benefits: Medical, Dental, Vision, 401K