Sr AML Program Specialist

Valley National Bank
$80,700.00-$137,700.00
United States, New York, New York
579 5th Avenue (Show on map)
Feb 14, 2025
Senior AML Program Specialist has oversight for monitoring and due diligence of customers in Valley's partner banking program. Responsibilities include initial and ongoing diligence of partner customers, sampling and testing of partner process and documentation to ensure compliance with Valley's AML Policy, and monitoring partner banking customer transactions for unusual or suspicious activity. The individual in this position is the escalation point for adjudication of any suspicious activity for partner banking customers. 40 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. Required Skills: Strong knowledge of BSA requirements for CIP and suspicious activity monitoring. Strong understanding of third-party risk management practices and principals as well as third party banking relationships, including BSA requirements and fintech. Able to collaborate across business lines, and with external partners, clearly communicating strategy to a variety of stakeholders. Experience working with AML transaction monitoring systems. Excellent written and verbal communications skills, attention to detail and strong time management skills. Strong analytical thinking and critical reasoning skills. Excellent interpersonal skills and ability to work effectively with colleagues across regions and Business Units, as well as external partners. Handle a fast-paced environment and successfully meet established deadline requirements. Be self-motivated and must have the ability to work independently. Required Experience: Bachelor's degree in field such as Compliance, Finance or Criminal Justice. Minimum of 3 years of experience in financial crimes compliance (AML and Fraud); partner banking or related area. Preferred Experience: Experience with money service business compliance, as well as cannabis related businesses. Exact compensation may vary based on skills, experience, and location. $80,700.00 $137,700.00