What are the responsibilities and job description for the AML Associate position at Valley Bank?
At Valley Bank, we believe in people's growth potential. We invest in it. We protect it. We focus it. For nearly 100 years, we've been the Bank that clients from every industry turn to for our expertise, strategies, and advice--building the kind of trust that can fuel every goal. We are the leading relationship bank built for growth--with over $60 billion in assets, 3,800 experts, and more than 200 consumer branches and commercial banking offices in communities across the US.
At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.
The AML Associate is responsible for reviewing alerts generated by the bank's transaction monitoring system, Actimize, or resulting from internal referrals to determine whether activity should be escalated for further review and possible Suspicious Activity Report filing.
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Responsibilities Include But Are Not Limited To
Required Skills
At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.
The AML Associate is responsible for reviewing alerts generated by the bank's transaction monitoring system, Actimize, or resulting from internal referrals to determine whether activity should be escalated for further review and possible Suspicious Activity Report filing.
,
Responsibilities Include But Are Not Limited To
- Review alerts produced from Actimize Suspicious Activity Monitoring system and internal referrals using both internal and external tools, escalating to investigation anything warranting further review.
- Properly document all parts of the alert review process, including reason for escalation or closure of the alert.
- Work with Branch personnel in order to attain proper KYC information and CIP documentation when warranted.
- Assist with special projects as provided by AML management.
- Assist OFAC team with ruling out possible matches with SDN list of negative news searches. Inform Investigations Manager of common alerts to ensure the monitoring platform consistently addresses prevailing risk.
- Support in the day-to-day compliance efforts with AML/KYC requirements.
Required Skills
- Working understanding of reporting requirements of the Bank Secrecy Act (BSA), and USA PATRIOT Act.
- Excellent oral and written communications skills.
- Ability to conduct research using various sources.
- Knowledge of MS Office Applications, including Excel and Word.
- Ability to maintain attention to detail and accuracy under pressure situations.
- Team oriented and able to work independently.
- High School diploma or GED and a minimum of 1 year experience in banking operations with an understanding of anti-money laundering processes or completion of the Valley internship program in AML.
- Experience with the NICE Actimize system preferred.