Job details
Job type full-time
Full job description
Silvergate capital corporation (nyse: si) is the leading provider of innovative financial infrastructure solutions and services for the growing digital currency industryThe company’s real-time payments platform, known as the silvergate exchange network, is at the heart of its customer-centric suite of payments, lending and funding solutions serving an expanding class of digital currency companies and investors around the worldSilvergate is enabling the rapid growth of digital currency markets and reshaping global commerce for a digital currency futureChallenging convention by empowering people allows us to exceed expectations for our clients while cultivating an awesome culture.
The aml surveillance analyst assists in the administration of the bank secrecy act compliance program, specifically relating to transaction monitoring alert surveillance and assists with various assignments supporting financial crimes risk management (‘fcrm’), under the guidance of the aml surveillance supervisor and/or investigative operations managerThis position performs alert assessment reviews, daily monitoring and investigations pertaining to the bank secrecy act, usa patriot act, and anti-money laundering program compliance using industry standard and regulatory guidance to ensure the company’s compliance efforts are maintained and unusual activity is escalated for further investigationAdvises the aml surveillance supervisor and investigative operations manager of emerging trends and issues and assists the company in the establishment of controls to mitigate risksThe position of aml surveillance analyst is required to be fully knowledgeable and skilled in transaction monitoring and investigations.
Essential duties and responsibilities
Fcrm
Assists in the administration of the automated aml/fraud system alerts, researches and resolves alerts within the system
Perform daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large day-to-day customer’s account activity; determine if transactions are unusual in nature, such as kiting, significant changes in balances, structuring patterns, unusual loans payments, and certificate of deposit purchases, foreign and domestic wire activity or ach transfers, monetary instrument sales, new account openings, etc.
Perform routine monitoring to determine the extent of compliance with regulations, laws, policies and proceduresCommunicate the results of monitoring to department managers and senior management, follows-up to ensure issues are addressed, and escalates issues
Maintain proficient knowledge of the rules and regulations, including but not limited to, the bank secrecy act (bsa), usa patriot act, and ofac
Train in various programs to further educate oneself in bsa related compliance requirements and procedures
Compliance with 314(a) and 314(b) responsibilities
Provide input of monthly reports to keep management informed of department activities, such as: stratification and velocity analysis, case and sar volume tracking, as well as other reports as assigned
Performs customer and transaction analytics to identify trends, anomalies, and/or unusual patterns of activity and recommends when to escalate alerts for further case investigationMay assist in investigations as warranted
Assists in the preparation and submission of all currency transaction reports (ctrs) within required timeframes
Complete reviews of various reports, applications, and platforms utilized by fcrm
Ensure timely and accurate completion of all alerts
General
Assist in the research of regulatory issues to compliance questions from bank personnel, using legal and regulatory reference materials, regulatory agencies, as appropriate
Assist in special projects and tasks for the department as directed
As warranted or directed, assist in the development, revision or reviews of company policies, procedures, disclosures, notices, and forms to comply with legislative and regulatory changes or new requirements
Assist with self-assessments as neededMay assist in the preparation and coordination of independent audits and regulatory examinations
Maintain current knowledge of all federal and state laws and regulations, along with the bank’s policies and procedures
Must adhere to the company’s core values of challenge convention, do what’s right, take ownership, empower people, exceed expectations, and cultivate awesome all while keeping our “why?” front of mindOur why? silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.
Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
Decision making
Requires continuous exercise of judgment following regulatory rules, laws, and regulations, industry standards and practices
Identifies and selects complex choices of action where standard practices may not exist
Must be able to accommodate detailed work, problem solving, reasoning, math, presentations, verbal communication, written communication, analytical reasoning, training others, multiple concurrent tasks and constant interruptions
Job dimensions
Ability to deal with routine problems involving multiple facets, variables, and situations where only limited standardization exists
Knowledge, skills and abilities
At least 1 year of bsa/aml experience in account analytics, investigations, alert dispositioning, and account review processes; 4+ years preferred
At least 1 year of general banking or regulatory agency experience, with an emphasis in compliance and/or operations;4+ years preferred
Knowledge of bank administration, lending and operations products and services; related state and federal laws and regulations and other bank operational policies and procedures
College degree, or equivalent banking experience
Comprehensive understanding of general banking compliance regulations and laws
Comprehensive understanding of general banking operations activities, products, and services
Ability to proactively identify and assess potential concerns and risks
Understanding of legislative and regulatory processes
Familiarity with all functional areas of banking
Excellent oral and written communication skills
Ability to resolve issues, work independently, and meet deadlines
Persuasive and team-oriented
Ability to communicate effectively with staff at all levels
Effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees
Good business writing skills and proficient in microsoft word and excel
Good organizational and time management skills
Bank secrecy act requirements
Responsible for adhering to the reporting and recordkeeping requirements of the bank secrecy act and anti-money laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the office of foreign asset control (ofac), following the company’s customer identification program (cip) rules, observing all company policies and procedures relating to bsa, ofac, cip, and related acts, and participation in ongoing related training.
Work conditions
Standard office environment with a moderate noise level or working remotely.
Physical demands
While performing the duties of this job, the employee is:
Regularly required to talk or hear
Required to communicate with customer and coworkers verbally and in writing
Occasionally required to stand; walk
Occasionally required to lift up to 25 pounds
Required to sit for long periods and reach with hands and arms
Able to read documents, computer screens, reports, other communications and have the ability to adjust focus and close vision.
Management reserves the right to add to, change and revise this description at any timeThis description does not include any marginal functions that are incidental to the essential functionsAlso, it does not imply that these are the only tasks to be performed by the incumbentEmployees are required to follow any other job-related instructions and to perform any other job-related tasks requested by their supervisorAny requirement may be modified to reasonably accommodate individuals with disabilities.
Silvergate is an eeo/aa/disability/vet
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