What are the responsibilities and job description for the Sr AML Program Specialist position at Valley Bank?
Responsibilities include but are not limited to :
- Perform initial due diligence on all partner banking customers in accordance with Valley's AML / CIP policy, including collection and review of all required licenses, validation of customer BSA and CIP processes, and understanding of customer's transaction monitoring process.
- Perform ongoing diligence on customers, including collecting updated licensing, documentation, and beneficial ownership information.
- Act as escalation point for adjudication of any suspicious or unusual activity escalated by the partner on their underlying customers.
- Perform periodic reviews of customer's BSA program, including CIP requirements and validation and review processes, internal investigation and escalation processes, sanctions screening process and training regime. Track any issues identified to ensure timely resolution.
- Monitor customer activity for unusual or suspicious activity, filing SARs with FinCEN as needed.
- Make recommendations for exiting customer accounts / relationships based on diligence, account reviews or transaction monitoring.
- Act as subject matter expert for questions regarding partner activity, diligence or registration requirements.
- Work with Governance Manager to ensure Partner Banking program remains up to date, and adequately addresses the risk posed by this customer group.
- Identify and analyze records of outside agencies to facilitate investigations including credit bureau records, police and court records.
