Financial Crimes Associate

About this role:

Wells Fargo is seeking a Financial Crimes Associate

In this role, you will:

• Participate in and provide support for low complexity initiatives
• Investigate, negotiate and mitigate potential or known moderate dollar loss or risk claims with customer suspects
• Examine evidence and work with more difficult customers or collect losses from responsible party
• Examine fraud findings to determine extent of fraud risk
• Review issues and policies or procedures for which answers can be quickly obtained related to lower risk tasks and deliverables with narrower impact
• Research and scrutinize complex transactions and referrals to prevent and detect financial crimes activities, policy violations and suspicious situations with low to moderate risk
• Perform analysis to detect patterns, trends, anomalies and schemes in transactions and relationships across multiple businesses or products
• Receive direction from supervisor and exercise judgment within defined parameters while developing understanding of function, policies, procedures, and compliance requirements
• Draft report of findings and trend evaluation and make recommendations to mitigate risk
• Provide information to managers, functional colleagues and stakeholders
• Provide litigation support, under guidance by more experienced colleagues, by providing support documentation, testimony and evaluating cases for potential risk
• Conduct education for financial crimes awareness

Required Qualifications:

• 6+ months of Financial Crimes, Operational Risk, Fraud, Sanctions, Anti-Bribery, Corruption experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

• Experience in financial crime compliance, investigations, or risk management, Sanctions Screening (Customer & Transaction), PEP & Negative News Screening
• Knowledge & understanding of BSA & USA PATRIOT Act, OFAC Sanctions Programs
• Experience using screening tools like World Check, Lexis Nexis, Dow Jones & RDC
• Understanding of payments / transactions such as SWIFT, ACH, Wires etc.
• Ability to identify red flags and disposition alerts using a risk based approach
• Eye for detail, prioritization and time management
• Ability to take initiative and work independently with minimal supervision
• Basic Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
• Good customer service skills, team work and stakeholder connect
• Strong organizational and time management skills with the ability to manage multiple responsibilities and tasks simultaneously
• Graduate, preferably in Finance / Business Administration"

Job Expectations:

• Conduct thorough name screening checks using internal and external databases to identify potential matches against watchlists, sanctions lists, potentially exposed persons and adverse media.
• Analyze screening results to determine the relevance and risk level of potential matches, escalating high-risk cases to the appropriate stakeholders for further review and action
• Investigate and resolve false positives by conducting additional research and analysis to verify customer identities and assess potential risk factors
• Maintain accurate documentation of screening activities, including narratives / notes, findings, decision rationale etc. in accordance with company policies and regulatory requirements
• Stay abreast of regulatory developments and industry best practices
• Leverage interpretation of policies, procedures, and compliance requirements
• Collaborate and consult with peers, colleagues and managers
• Ensure coordination with team, line of business, other business units, Audit, and regulators on risk related topics