Job Description

Date Active

Nov 22, 2022 3:48:49 PM

Requisition #

22-2186

Hours Per Week

40

Location

436 Slater Road-HF308

City

New Britain

State

Connecticut

Job Description/ Requirements

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer. 

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Webster Bank is seeking a High Risk Client Monitoring Analyst with knowledge of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) requirements to fulfill the following duties:

  • Conduct financial investigations to mitigate regulatory, reputational and compliance risk for Webster Bank, N.A. and its affiliates.
  • Conduct Office of Foreign Asset Controls (OFAC) and USA Patriot Act 314a investigations
  • Conduct Enhanced Due Diligence (EDD) monitoring of high-risk customers, cash intensive businesses, Politically Exposed People (PEP), Money Services Businesses (MSBs), foreign customers, ATM contractors, third party senders, non-bank financial institutions (NBFIs) etc.
  • Conduct customer data mining, utilizing internal anti-money laundering interdiction software to identify patterns of suspicious activity related to money laundering, terrorist financing and/or other related financial crimes.
  • Review internal account relationship/activities where money laundering or related misconduct allegations are possible.
  • Prepare detailed investigation reports that logically outline investigative steps taken, research completed, and recommendations made, utilizing analytical judgment and knowledge of the Bank Secrecy Act and Anti-Money Laundering laws and regulations (BSA).
  • Interpret and maintain a strong knowledge of all current and proposed BSA/AML laws and regulations. 
  • Manage data collection and quality control of investigative work product.
  • As appropriate, communicate the results of investigations to the Senior Managing Director of Bank Secrecy Act program (BSA Officer).
  • Preparation of the appropriate management reports summarizing findings and recommendations.
  • May be called to testify in State and Federal civil/criminal court proceedings

Key Responsibilities:

  • Exhibits independent responsibility and autonomy in their daily tasks, ensuring timely resolution of alerts, cases and other assignments.
  • Monitors client transactions across multiple delivery channels to identify trends and patterns of suspicious activity and financial crimes and takes appropriate action.
  • Recommends closure of accounts deemed risky or suspicious
  • Collect, evaluate and recommend whether supporting documentation is sufficient to validate the resolution of alerts and open cases. File SARs when necessary.  
  • Demonstrates BSA/AML compliance knowledge during their duties; including but not limited to, BSA, U.S.A. Patriot Act, CIP and OFAC regulations.
  • Escalates to management potential high-risk clients, suspicious activity and related financial crimes to mitigate risks.

Education, Experience & Skills:

  • Bachelor’s degree preferred in Business, Accounting, Finance, Economics, Criminal Justice or related field
  • 3+ years of experience in corporate compliance, banking, investigations or related BSA/AML field.
  • Knowledge of and experience with BSA (Bank Secrecy Act) and AML (Anti Money Laundering) regulations
  • Strong analytical, computer, presentation, and written and verbal communication skills.
  • ACAMS certification preferred

 #LI-Hybrid

#LI-GD1

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Equal Opportunities

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

Application Instructions

Please click on the link below to apply for this position. A new window will open and direct you to apply at our corporate careers page. We look forward to hearing from you!

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