Sr. CRE AML Risk Analyst

Position Title

Sr. CRE AML Risk Analyst

Location

Hicksville, NY 11801

Job Summary

The Sr CRE AML Risk Analyst is responsible for performing a review and analysis of borrowing entities for different types of income producing properties and construction loans, including the most complex, in order to ensure Anti-Money Laundering (AML) compliance and policies and followed. They serve as the first line of defense and are heavily relied upon to ensure Commercial Real Estate (CRE) follows Know Your Customer (KYC), Customer Identification Program (CIP) and Enhanced Due Diligence (EDD) policies as established by Flagstar Bank. As part of the dedicated AML/KYC team, they act as a subject matter expert and provide guidance throughout the CRE platform on AML/KYC execution in relation to new client onboarding and periodic review/remediation of existing relationships. Main responsibilities include a comprehensive review of organizational documents for Borrowers in order to determine key principals, analysis of business and personal credit reports, assess credit worthiness of business entities and individuals and conduct an analysis of a loan applicant’s financial data to evaluate potential risk. Regular contact with internal departments, customers and attorneys required. The candidate must display a high level of professionalism and integrity through their work and have an advanced to expert level of understanding of, AML, CIP and KYC requirements.

Pay Range - $73,626 - $95,714 - $117,801

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

JOB RESPONSIBILITIES

• Participates in daily review and analysis of loan applications inclusive of:
  • Use independent judgement and discretion to make decisions involving the credit worthiness of Borrowers and key principals utilizing the three major credit bureaus, public record searches, internet-based sources, as well as current and former lenders.
  • Perform a deep dive of organizational documents for Borrowers and controlling entities in various entity structures in order to determine key principals, ultimately creating a tree diagram to substantiate review.
  • Examine Beneficial Ownership Certification form and verify FinCen compliance requirements are met.
  • Lead complex KYC/CIP investigations.
  • Conducts credit investigations to determine acceptable historical character of applicants and principals from available reporting services and sources.
  • Determines the acceptability of loan applicant based on the credit factors analyzed.
  • Review loan applicant’s financial data including personal financial statements, tax returns, and deposit relationships.
  • Communicate potential Financial Crimes Compliance (FCC) risks with counterparts in FCC department and document matters requiring escalation.
  • Serve as First Line of Defense as it pertains to KYC, CIP and OFAC requirements, utilizing knowledge and skills to ensure compliance throughout CRE platform.
  • Perform Enhanced Due Diligence on higher risk customers.
  • Research negative findings discovered on prospective and ongoing relationships in order to fully assess potential risks within Flagstar’s established risk taxonomy framework. Make recommendations to leadership to assist in decision making.
  • Communicates concerns to appropriate parties and is responsible to ensure all AML/KYC/CIP/EDD/OFAC issues are documented, and discrepancies are resolved.
  • Review and sign off on new client’s account opening documents.
  • Manage periodic reviews of relationships, inclusive of high risk and Politically Exposed Person (PEP) accounts.
  • Mentoring and coaching other team members.

• Researches and resolves issues that arise. Prepares summaries of findings and offers resolutions to items of concern or discrepancies noted. Investigates post-closing discoveries reported by Risk and Control Advisory Group and responds to inquiries as needed. Identifies and documents exceptions, ensures they are based on relevant facts and are accurately characterized based on risk and delivered according to established departmental deadlines.
   
• Performs other duties as assigned, attends and successfully completes departmental and corporate trainings, assists in review of ongoing changes to relevant procedures, legal and regulatory guidelines and requirements. Stays informed about the latest regulations and guidelines related to AML/KYC/CIP/EDD and OFAC.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.  Accountable t