Job Description

Position Summary

This position supports Chief Anti Money Laundering Officer to investigate and monitor financial activity and transactions that appear to be suspicious in nature. They are also responsible for helping Banorte Wealth Management to comply with comply with all anti-money laundering rules and regulations and any regulatory audit requirements and reports to help protect Banorte against bad actors who pretend to use the Firm and the financial system for illicit activities.

Essential duties and responsibilities

• Performs daily review, monitoring, and analysis of various reports, logs and transaction data to identify trends in unusual activity and approve and/or monitor pertinent money movement activity; determining if transactions are suspicious in nature, significant changes in balances exist, structuring in deposits, flow-through of funds, and new account openings and other related matters.
• Collaborate on suspicious activity report investigations of escalated alerts/cases, high-risk customer/account reviews, and assist in the preparation of SARs.
• Support the individual risk assessment and ranking of customers through the analysis of Customer data.
• Assists in the administration of automated BSA/AML monitoring systems, collaborate on the research of alerts/cases, and AML investigations.
• Performs Enhanced Due Diligence (EDD) analysis reviews on high-risk customers.
• Perform OFAC verification during the onboarding of new customers and later when necessary.
• Assists, when required, in the execution of FinCEN 314(a) and 314(b) (USA PATRIOT Act.) responsibilities.
• Perform a review of new and existing accounts for compliance with Customer Identification Program/Know Your Customer (CIP/KYC), Customer Due Diligence (CDD), and Beneficial Ownership requirements, when necessary.
• Assist or perform activities related or connected to the essential duties enumerated above.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Education and/or Experience

• Associate degree or equivalent related experience.
• 1 year of related experience in the securities or financially related industry, risk management, process improvement, audit or field related to wealth management and broker dealer industry.
• 1 or more years of experience reviewing high-risk (HR) customers (client onboarding, periodic KYCs, etc.).
• 1 or more years of concentrated experience in BSA/AML.
• Strong critical thinking and problem-solving skills.
• Maintain current knowledge of the Bank Secrecy Act, Customer Information Program, Customer Due Diligence, OFAC, and all related anti-money laundering regulations.
• Maintain current knowledge of all federal and state laws and regulations, along with the firm’s policies and procedures.
• Working knowledge of red flags for money laundering, fraud, structuring, counter financial terrorism, and other financial crimes.
• Must have a knowledge of industry and business economical perspectives.
• Experienced knowledge of banking or brokerage operations.
• Ability to communicate at all levels. Strong verbal and written communications skills must be a team player.
• Ability to work independently with limited direction from supervisor.
• Proficient in Excel, Word, and PowerPoint.
• Professional certification(s) such as Certified Anti-Money Laundering Specialist (CAMS) or completion of specialized training in compliance or applicable certifications is highly recommended.
• Ability to read and analyze legal documentation in both English/Spanish.

Language skills

Professional grade proficiency in English and Spanish is required.

Mathematical skills

Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations. Strong quantitative analytical skills.

Reasoning ability

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions and deal with several abstract and concrete variables.

Physical demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit. The employee frequently is required to talk or hear. The employee is occasionally required to stand, walk, and reach with hands and arms. The employee must occasionally lift and/or move up to 50 pounds.

Work environment

Collaborative in a traditional office setup, with the tools, tech and spaces needed for effective teamwork, promoting comfort and efficiency, to help boost employee satisfaction and productivity. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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