Financial Crimes Analyst

What You Can Expect In This Role

The Financial Crimes Analyst will work either in the Anti-Money Laundering (AML) Department or Special Investigations Unit (SIU) areas of the Company. AML and SIU are two functional teams under the Financial Crimes Unit and report to the AML & Financial Crimes Officer. This position will have primary accountability for either AML or SIU duties but will have some degree of interaction and support for the other functional team outside of their primary responsibilities. The Financial Crimes Analyst will be responsible for gathering, analyzing, and documenting information related to money laundering and/or fraud investigations of life insurance and annuity products. The Analyst will assist the Financial Crimes Unit with investigating suspected fraud, questionable financial transactions, irregular agent/policyholder business activity, and analyzing large amounts of data for anomalies or financial crime. The Analyst will assist the Senior Financial Crimes Analyst and/or the AML Officer with monitoring of suspicious activities/transactions for fulfilling requirements under applicable State or Federal regulatory reporting. This position will also be responsible for medium scope AML and/or fraud initiatives such as special projects or process improvements. Accountable for AML or fraud work involving a medium level of business risk. Additional required activities may include a medium level of interaction with employees during AML and fraud training sessions performed by the Financial Crimes Team.

What You'll Do In This Role

• Reviews and understands AML/fraud risks and risk management processes in order to assist in identifying and monitoring the risks.
• Gathers and analyzes information, documentation, and other potential evidence (from various sources such as contract files and related information, public records, recorded calls, etc.) to support Financial Crime investigations, periodic reporting, and responses to law enforcement and regulatory agency inquiries.
• Serves as subject matter expert on AML and/or fraud related issues.
• Analyzes reports and conduct some related due diligence to assist in identifying activity that may require further investigation.
• Prepares weekly/monthly/ or quarterly reports to the AML & Financial Crimes Officer on current AML/SIU trends or deficiencies.
• Participates in the creation of periodic reports and written communications.
• Participates in tracking and monitoring of fraud trends or suspicious business activity using the agent database and business monitoring system to facilitate early detection; recommend solutions for mitigating AML and fraud exposure.
• Assists in the maintenance of the Financial Crimes databases of investigations which is necessary for retaining documentation of investigations.
• Maintains awareness of key process changes, system changes, organization structure, and key outsourcing arrangements/vendor exposure and how they impact operational AML and fraud risk management.
• Assists in the development of internal and external fraud loss reports. Develops and distributes internal and external fraud loss data in order to report on and monitor risk management activities associated with significant losses.
• Assists in the preparation of reports and inquiries from State and Federal agencies. Prepares reports that meet State and Federal reporting requirements.
• Assists the AML & Financial Crimes Officer in developing reports on AML and anti-fraud trends.
• Participates in special projects and experience studies as requested by management and /or State or Federal Agencies.
• Assists with duties and responsibilities of the overall AML/SIU functions.
• May be required to assist in the AML/SIU training needs of employees and retain documentation of completion of the training.
• Assist in the review and update of operating guidelines for AML/SIU procedures. Reviews and updates operating guidelines for AML/ATF procedures to be implemented in specific departments.
• Assists in the testing of newly implemented AML/SIU procedures. Develops new policies/procedures and ongoing AML/ATF training, and testing related to the implementation of AML/ATF procedures.
• Participates in review and investigation of suspicious activities/transactions and maintain documentation of decisions around Suspicious Activity Reports or Fraud Referrals.
• Participates and assists as necessary in the business analysis and development on future project implementations involving AML/SIU software.
• Makes recommendations for improvements in work processes and takes initiative to ensure improvements are implemented timely and appropriately.
• If your focus within the department is AML related:Become familiar with Patriot Manager, the Company’s transaction monitoring system. Properly document the notes section in Patriot Manager and understand the escalation process on questionable transactions. Become familiar with the Agent AML Training Database and LIMRA extract feeds. Take the lead on the AML Risk Assessment process and ensure deadlines are met by all departmental participants. Assist the SIU Team Members when business needs arise.
• If your focus within the department is SIU related:Become familiar with the SIU SharePoint Case Management System. Communicate verbally with clients and agents in relation to SIU investigations. Draft clear and concise written reports on investigative findings. Take the lead on Fraud Risk Assessments when applicable. Assist the AML Team Members when business needs arise.
• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).
• As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
• Participate in other initiatives and/or projects as necessary.
  
  

What We're Looking For

• Bachelor's Degree Accounting, Finance, or Criminal Justice Preferred
• Experience in financial crimes, fraud investigation and insurance Required
• Strong problem solving, research and analysis skills
• Ability to prioritize multiple projects and allocate time as needed
• Ability to perform well with limited supervision, meet deadlines, be a self-starter, and be accountable
• Excellent organizational skills and attention to detail
• Effective written and verbal communication skills
• Ability to adapt to change and learn quickly
• Proven ability to identify patterns of suspicious fraudulent activity and the intuitiveness necessary to respond accordingly
• Strong life and annuity business knowledge
• Demonstrated proficiency in Microsoft (Excel, Word, Access) and an ability to compile data and prepare experience reports to management
• Proficient in data analysis
• Strong team player with excellent interpersonal skills
• CFE or in pursuit of designation Preferred
• 10% Travel
  
  

Other Requirements

• Criminal background check required.
  
  

What you can expect when you join Sammons Financial Group

• Sammons Financial Group offers a competitive benefit package that includes: Health, Dental, Vision, Company Paid Retirement, PTO and Holiday Pay.
• Our Employee Stock Ownership Plan (ESOP) is a 100% company-funded retirement plan, so you can save for retirement without contributing a penny of your own paycheck.
• Healthy balance between work and personal lives. Friday afternoons off all year long, competitive PTO, and generous number of paid holidays.
• Our incentive program for defined goals subject to eligibility and performance. Monetary rewards are based on individual and/or overall company performance.
• Colleagues who support one another, model our core values, and drive our healthy, high-performing culture.
  
  

Salary Range Information

USD $60,119.00 - USD $112,722.00 /Yr. Range includes data points from multiple labor markets. Specific range is dependent on the labor market where the incumbent will be hired to perform the position. Starting salary is dependent on candidate qualifications and experience. For a narrower salary range specific to your labor market, please inquire.

Work Authorization/Sponsorship

At this time, we’re not considering candidates that need any type of immigration sponsorship now or in the future or those needing work authorization for this role (This includes, but is not limited to students on F1-OPT, F1-CPT, J-1, etc.)