The Sumitomo Mitsui Banking Corporation (SMBC) New York branch Transaction Surveillance Unit (TSU) is the group responsible for Bank Secrecy Act, USA PATRIOT Act, Anti-Money Laundering Act compliance and review of post-transactions to identify “suspicious” activity and recommend SAR filings.
Perform first-level review of system generated alerts and create narrative documentation for alerted transactions, referrals, cases and suspicious activity reports, and participate in other tasks that may be required by the department from time-to-time. Additional duties may also include cross training with new hires or trainees, analyzing statistical data for output and making recommendations for process improvements and collaborating with line managers to ensure quality and compliance of processes.
The Transaction Surveillance Unit Analyst position is responsible for reviewing system generated daily and monthly alerts, gathering information, and documenting findings to support the closure of alerts, or the referral of alerts to the TSU case analyst for SAR reporting as appropriate. The incumbent is also responsible for assisting with TSU related tasks and assignments as needed. This includes the ownership of the investigative cases from assignment to closure.
Experience and Skills required:
Functional knowledge of legal aspects and record-keeping requirements of banking regulations related to transaction surveillance, especially Anti-Money Laundering Act and the Bank Secrecy Act. Up to 2 years of specialized experience in Financial Services, transaction surveillance and banking experience preferred. BA/BS preferred. CAMS or CFE preferred.
· Candidate should possess strong investigation and analytical skills, decision-making skills.
· Candidate must have adequate communication skills, both verbal and written, and possess the ability to work in a fast paced environment where deadlines are critical.
· Conduct initial research/ investigation, analysis and assessment of alerts generated from Actimize Fortent using internal/external research tools
· Accurately document rationale for alert closure or escalation as per SMBC’s Policy and procedures.
· Take ownership of individual cases using appropriate case management tools and techniques to progress in order to meet timescales for case investigation processing
· Escalate tardy/non-responses for Request For Information (RFIs) to the Team Leader
· Provide recommendations for SAR filing by presenting documentation to support findings
· Preparation of quality SAR narrative for presentation at SAR review meetings
· Maintain high degree of proficiency on alert work
· Pro-actively contribute to team performance and share best practice across team
· Actively participate in training tasks and contribute in team meetings
· Perform misc. projects and tasks as requested by Teams Leaders/Management