More than 30 years ago, E*TRADE pioneered the online brokerage industry by executing the first-ever electronic individual investor trade. While the landscape of our industry has changed dramatically, our culture of innovation and drive to make online trading accessible to everyone continues to drive us forward. We believe in challenging the status quo, fostering an environment of curiosity and learning, and, above all, putting our customers first.
This position is responsible for analyzing suspicious activity through reviewing reports, alerts and researching customer information regarding accounts and transaction activity suspected of being related to money laundering, and/or OFAC issues. This position protects the company’s reputation by ensuring compliance with the Bank Secrecy Act, anti-money laundering (“AML”) regulations and the USA PATRIOT Act. Applicants must be analytical, detail oriented, organized, and professional with the ability to conduct research and draw conclusions.
• Responsible for analyzing and monitoring various forms of potentially suspicious transactions and customer online banking and brokerage activity to identify potential money laundering risks.
• Reviews client transactions that may violate anti-money laundering (such as the Bank Secrecy Act, in the US) or economic sanctions (such as the programs administered by the US Department of the Treasury's Office of Foreign Assets Control ("OFAC")) laws and regulations of multiple countries in which the firm conducts business. Assesses these transactions by consulting the client's profile and past transactions with the company as well as public sources of information. Escalates issues to management for final decision-making.
• Reviews alerts, communications and workflows related to brokerage/bank customer activity, OFAC compliance, negative news articles, and cash transactions and analyzes the money laundering risks thoroughly and timely. Reviews and respond to money laundering-related queries from other departments.
• Performs detailed research, analysis and due diligence on the backgrounds of high risk customers and prepares written memos to management.
• Follows up with additional points of contact throughout and outside of the organization as needed to identify additional information in support of the case
• Completes reports to be filed with the government regulatory agencies (such as Suspicious Activity Reports ("SARs") with the US Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") and Blocked or Rejected Transaction Reports with OFAC, in the US) in compliance with the FinCEN Regulations, Bank Secrecy Act and other federal programs related to suspicious activity.
• Prepares and delivers AML-related training within the department/company and conducts other research projects and investigations, and participates in departmental special projects as requested by the manager.
• Bachelor’s degree from accredited and reputable institution in an analytical field.
• Two years’ experience in bank/brokerage operations, suspicious activity monitoring.
• Some work experience at a financial institution or at a government agency that regulates financial institutions is preferred.
• Previous financial services industry, brokerage or banking experience.
• General knowledge of the Bank Secrecy Act and the anti-money laundering regulatory scheme.
• General knowledge of either bank or brokerage operations.
• Ability to follow detailed policies and procedures.
• Excellent research, communication, writing and presentation skills.
• Ability to analyze and to interpret information critically and present findings.
• Proven organizational skills, time management and attention to detail.
• Strong computer skills (Microsoft Office, Word, Excel, PowerPoint) and ability to learn to use various internal company systems.
• CAMS certification or interest in pursuing certification desired.
• Series 7/63 desired, but not required.
• Must provide a writing sample with the application.
We offer a competitive and comprehensive benefits package. Please visit https://www.etradecareers.com/why-work-at-etrade/employee-benefits/ to learn more about the opportunities.
E*TRADE Financial is an Equal Opportunity Employer who encourages diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, age, disability, citizenship, marital status, sexual orientation, gender identity, military or protected veteran status, or any other characteristic protected by applicable law.