Job Description

Job Description

Job Description

Location: Sioux Falls, SD (Hybrid)
Job Type: Full-time

Job Summary:
Central Payments is seeking a detail-oriented AML (Anti-Money Laundering)/Fraud Investigator to join our team. In this role, you will be responsible for conducting thorough investigations into suspicious activities, including money laundering, fraud, and other financial crimes. Using advanced tools and techniques, you will analyze complex financial transactions, identify potential risks, and ensure compliance with BSA/AML regulations. As an essential member of the compliance team, you will collaborate closely with legal, compliance, and other departments to protect the integrity of our financial operations.

Key Responsibilities:
- Conduct in-depth investigations into potential money laundering and fraud activities by reviewing transaction data, customer details, and other documents.
- Analyze complex financial transactions using AML monitoring alerts, identifying patterns, anomalies, and red flags indicative of financial crimes.
- Prepare detailed investigative reports with findings and recommendations, escalating cases to issuing partner banks as needed.
- Collaborate with cross-functional teams to continuously develop and implement effective fraud prevention and detection strategies.
- Manage proactive risk through the analysis of customer account transactions and make recommendations to enhance anti-fraud and AML processes.
- Evaluate the effectiveness of alerts received from AML monitoring systems, proposing improvements to enhance detection capabilities.
- Assist in developing and updating procedures for BSA/AML and Fraud processes, conducting regression tests on new products post-launch to ensure compliance.
- Maintain detailed and accurate records of investigations, ensuring compliance with regulatory requirements.
- Provide guidance and support to executive management regarding customer AML risk ratings and account activity.
- Stay current on industry trends, regulatory changes, and best practices in BSA/AML compliance and fraud detection.
- Support both internal and external audits and examinations related to BSA/AML compliance and fraud investigations.
- Conduct interview calls with cardholders as necessary to provide customer service related to investigations.

Knowledge, Skills, and Abilities:
- Strong knowledge of the Bank Secrecy Act, Anti-Money Laundering regulations, and regulatory guidance affecting prepaid cards and the payments industry.
- Understanding of money laundering, terrorist financing, human trafficking, elder financial exploitation, and other fraud schemes, as well as relevant policies and regulations such as UDAAP, International ACH transactions, and Regulation E.
- Exceptional analytical and investigative skills with the ability to interpret complex data and identify suspicious patterns.
- High level of accuracy and attention to detail in all tasks.
- Critical thinking and problem-solving abilities, especially under pressure.
- Strong written and verbal communication skills, with the ability to prepare clear and concise reports.
- Proficiency in AML monitoring systems, financial software, and Microsoft Office applications (Word, Excel, Access, PowerPoint).
- Ability to work effectively in a team environment and collaborate across departments.

Qualifications:
- Degree in criminal justice, business administration, finance, management, or a related field.
- Minimum of 2 years of relevant experience in AML, fraud investigation, or related roles, or equivalent combination of education and experience.
- Knowledge of prepaid and payment products and operations is preferred but not required.
- Certifications such as ACAMS, CFCS, CFE, or CRCM are preferred but not required.

Job Tags

Full time,

Similar Jobs