Analyst High Risk EDD - FCIU
Monterey Park, CA, USA
Monday, March 23, 2020
Drive Our Success
you enthusiastic, highly motivated, and have a strong work ethic? Would you like to work for a company that is ranked Top 20 on the Forbes Best Banks in America 2021 list? If yes, come
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We believe people are our most valuable asset and we proudly foster
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have thrived for nearly 60 years and persevered through many economic cycles
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We offer a competitive benefits package and comprehensive training programs so you can focus on your long-term professional career and your next steps at Cathay Bank. Apply today!
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The High Risk Enhanced Due Diligence (EDD) Analyst is responsible for reviewing systematic Anti-Money-Laundering (AML) alerts and conducting annual High Risk Enhanced Due Diligence (EDD) reviews on high risk customers - consumer and commercial.
The High Risk EDD Analyst has an understanding of key topics within the high risk client lifecycle management process, including: Source of Wealth corroboration, negative news and adverse media screening, collection of required Ultimate Beneficial Owner (UBO)/partner documentation, nature and purpose of account, monitoring/mitigating of potential suspicious transactions, changes in regulatory rules, recent trends and enforcement actions, peer group leading practices, client risk rating, other AML related red flags.
This position requires strong ownership of the learning process, prioritization and substantial analytic skills, case management skills and an ability to drive positive change. This position requires sound judgment, attention to detail, and the highest degree of confidentiality and accuracy in the handling of information and in discharging responsibilities.
Effectively and voluntarily takes on additional roles and responsibilities including participating in special projects; and working closely with branches and business lines.
- Conduct comprehensive investigations of customers by utilizing CIP information, occupation, line of business, income methods, and transaction activity as identified by the AML Solution based on predefined triggers
- Contact branches and business lines for clarification of customer and/or account activity, as needed
- Perform transaction analysis of several types of businesses and capture a strong understanding of account purposes
- Prepare detailed High Risk EDD reports, which include transactional analysis summaries and negative news findings utilizing using tools such as Internet search engines and other non-documentary search engines
- Analyze system generated and manually created alerts for potential suspicious activity
- Stay well-informed on current money laundering and terrorist financing behaviors, issues, criminal typologies, industry best practices, regulations, and developing trends
- Flexible to perform other functions as needed
- Bachelor's Degree in related fields of business or finance, preferred
- Minimum 5 years' experience in BSA/AML Compliance including writing and preparing Suspicious Activity Reports (SARs) in accordance with applicable regulatory requirements or applicable experience
- Proven ability to balance quality and quantity of reports
- Certified Anti-Money Laundering Specialist (CAMS) designation, preferred.
- Strong knowledge of the laws applicable to money laundering, including Bank Secrecy Act, the USA PATRIOT Act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements
- Strong understanding of banking products and services
- Strong research skills including experience with online search tools
- Strong proficiency in Microsoft Word, Excel, Access, PowerPoint and Outlook
- Strong writing, analytical and communication skills
- Able to multitask and complete projects on time, often on a tight deadline
- Strong relationship building skills both internally and externally
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Cathay Bank is an equal opportunity employer. It is the Bank's policy to provide equal employment
opportunities to all qualified applicants. 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.
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