Enhanced Due Diligence Analyst

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The Position

Job TitleEnhanced Due Diligence Analyst

Job Description

SUMMARY

The EDD Analyst is responsible for ensuring that the Bank meets both regulatory and internal Enhanced Due Diligence (EDD) requirements. Tasked with assessing customer risk and producing financial intelligence through research and analysis. The EDD Investigator will conduct analyses of current customers through a variety of assigned cases. Performs all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

• Promotes a risk-aware culture, ensures efficient and effective risk and compliance management practices by adhering to required standards and processes.
• Utilizes advanced investigative techniques and tools to perform Enhanced Due Diligence by verifying the customer’s identity, reviewing their background, assessing the associated risks, analyzing transactional data, and compiling due diligence files.
• Conduct investigative/intelligence research of individuals, entities, and/or events related to current or prospective customers through public records, open-source media, vendor systems, or other research tools.
• Responsible for communicating with internal and external entities, members of the sales team and other risk units.
• Responsible for submitting Requests for Information (“RFIs”) to the front lines to identify additional information in support of the due diligence investigation and follow-ups to ensure timely receipt.
• Reviews documentation for existing customers to identify, assess and mitigate KYC risks.
• Performs more complex investigations into ownership and control to identify all ultimate beneficial owners for KYC risk management purposes.
• Draft assessment summaries and other written investigative/intelligence products to support judgments, decisions, and recommendations.
• Trains new employees on current procedures.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Responds to inquiries or refers inquiries to the appropriate person and exhibits the necessary follow through with internal and external customers and other staff involved in the investigations.
• Serves as subject matter expert for Community Bank staff on money laundering risk.
• Completes all required compliance exams on a yearly basis.
• Adherence to all First United Policies and Procedures.
• Dress professionally.

EMPLOYEE SPECIFICATIONS

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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Work Experience

• Minimum 2-3 years Banking/Compliance experience required.
• High School Diploma or GED required.
• Bachelor’s Degree in Criminal Justice/Criminology or Finance/Banking/Business preferred.
• ACAMS and/or CFE Certifications or will obtain certifications within first two years.
• Knowledge of federal BSA/AML regulations required.
• Familiar with bank operations in general.

Technical/Functional Competencies

• Ability to professionally interface (both orally and in writing) with Management and Team members, State and Federal regulators and officials, and business partners. 
• Ability to work with highly-confidential and sensitive business information and to maintain high standards of confidentiality related thereto.
• Proficient in Microsoft Office or similar software programs.
• Must possess a high level of initiative and a natural investigative demeanor.
• Ability to work independently and in a team environment to achieve department goals and objectives consistent with First United’s standards of excellence.
• Must be comfortable managing multiple and/or shifting priorities, and produce professional and accurate work product, sometimes under time constraints.
• Must possess the desire to increase learning and gain further expertise on AML/BSA/OFAC compliance matters

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.

All Locations:Sherman-Taylor Street

If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at [email protected] for assistance. 

First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.