About this role:
Wells Fargo is seeking a Financial Crime Specialist.
The AML QC Specialist will play a key role in the quality control (QC) process, ensuring compliance with regulatory requirements and internal standards. This role involves reviewing, testing and validating AML investigations, monitoring transactions, and ensuring accurate data documentation. The QC Specialist will also assist in identifying potential issues in processes, provide feedback to the team and contribute to continuous improvement efforts.
In this role, you will:
- Participate in complex initiatives and identify opportunity for process improvements within scope of responsibilities
- Perform risk assessment and modeling to provide input and recommendations for financial crimes strategies and models
- Evaluate the adequacy and effectiveness of policies, procedures, processes and internal controls
- Conduct data and onsite reviews, review findings, determine risk level and recommend fraud prevention strategies
- Review and assess business, operational, or technical assignments or challenges that require research, evaluation, and selection of alternatives, and exercise independent judgment to guide medium risk deliverables
- Perform investigative research, root cause evaluation and consulting regarding complex financial crimes transactions, policy violations and suspicious situations with moderate to high risk
- Perform detailed examination to detect transactional and relationship patterns, trends, anomalies and schemes across multiple businesses or products
- Act as an escalation point for more complex cases
- Present recommendations for resolving more complex situations and exercise independent judgment while developing full knowledge proficiency in the function, policies, procedures and compliance requirements
- Take action on control failures in bank processes and procedures
- Represent organization in handling court appearances, depositions, mediations, and arbitrations
- Collaborate and consult with associates on all levels
- Lead, participate in and provide support for projects and initiatives
- Provide input to development and delivery of a wide range of individual education for financial crimes awareness
- Prepare documentation and refer cases for Suspicious Activity, Identity Theft Operations and Suspected Financial Abuse, reports to government agencies and makes recommendations to management
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- 2+ years 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.
- Conduct QC checks on AML investigations pertaining to Transaction Monitoring alerts, ensuring adherence to established procedures and regulatory standards.
- To act as a domain experts/SME and provide day-to-day guidance & training, assist team in resolving queries/issues.
- Analyze trends, patterns, and discrepancies in data related to transactions and customer profiles.
- Be aware of complete QC Framework along with fair idea on the Critical Task List for the different Error Categories.
- Ensure accurate and thorough documentation for all AML QC checks and findings.
- Maintain issues log and track progress in a timely manner.
- Provide constructive feedback to AML investigators and support training initiatives to improve quality and compliance.
- Ability to identify training needs and escalate to line manager (need basis).
- Provide constructive feedback to AML investigators and support training initiatives to improve quality and compliance.
- Experience in Transaction Monitoring in Maker/Checker Capacity for 2+ years.
- Hands on experience in Transaction Monitoring QA/QC Model for 2+ years.
- Experience in QA/QC Framework (Essential) preferably in AML software and case management QC tools
- Knowledge of AML Regulations: Familiarity with BSA/AML, OFAC, KYC regulations, and other relevant regulations.
- Strong analytical and problem-solving skills with an eye for detail.
- Excellent verbal and written communication skills, with the ability to provide clear feedback and communicate effectively with various teams.
- Proficiency in AML compliance software, and MS Office Suite (Excel, Word, PowerPoint).
- High level of attention to detail and accuracy in reviewing cases and data.
- Analyst performing L1/L2/L3 maker/checker activities or alert disposition.
30 Jan 2025
*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.