AML/CFT Compliance Co-Op

Woburn, MA
Full Time
Experienced
Northern Bank is a privately held and family run business with corporate headquarters located in Woburn, Massachusetts. The Anti-Money Laundering / Countering the Financing of Terrorism (“AML/CFT”) Compliance team operates as a critical component of the bank’s independent risk management department, serving as the second line of defense. The team has a primary focus of overseeing the bank’s financial crimes program including anti-money laundering (“AML”), Bank Secrecy Act (“BSA”) compliance, Office of Foreign Asset Control (“OFAC”) compliance, and related programs. The team plays a pivotal role in safeguarding the bank’s integrity, reputation, and regulatory compliance relating to anti-money laundering and sanctions compliance.

In this role, you will perform quality control of the bank’s first line of defense, and review reporting under the Bank Secrecy Act and bank’s sanctions compliance program. You will work with the AML/CFT Compliance Manager to monitor the functioning of the bank’s anti-money laundering (AML) and countering the financing of terrorism (CFT) program.

ESSENTIAL FUNCTIONS
 
  • With guidance from the AML/CFT Compliance Manager, perform quality control testing of first line of defense customer identification program and beneficial ownership reviews.
  • Develops an understanding of anti-money laundering and the countering of terrorist financing and the roles banks play in assisting law enforcement.
  • Engage in reviews regarding compliance with FinCEN 314(a) program.
  • Assist with transactional testing of core data to the transaction monitoring software.
  • Complete data uploads for analysis to the transaction monitoring software.
  • Performs work independently within scope of established guidelines and procedures.
  • Consults with the AML/CFT Compliance Manager if clarification and assistance are needed to ensure work is performed efficiently and effectively while learning on the job.
JOB QUALIFICATIONS
  • Working towards a degree in criminal justice, accounting, political science, or another related field (undergraduate).
  • Strong analytical and decision-making skills; organizational skills.
  • Proficient in Microsoft Office Suite (Word, Excel, PowerPoint)
  • Self-starter with initiative and intellectual curiosity.
  • Ability to work independently.
  • Detail-oriented.
ADDITIONAL INFORMATION
  • The co-op opportunity requires the student to work full time (40 hours per week) from mid-May to mid-December
  • This role will be onsite full time. Travel between Northern's two office buildings (both located in Woburn) as well as our 12 branches is required

 

About Northern Bank & Trust Company

Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of over $3 billion with 12 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender. For more information on online banking services, please visit www.NBTC.com or follow Northern Bank on Facebook (/NorthernBankM A/), Twitter (@northernbankma), Instagram (@northernbankma) and LinkedIn (company/northern-bank-ma/).

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