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Associate, Fraud Investigations Unit Location US-FL-Jacksonville Job ID 32360 # Positions 1 Job Family Compliance - BSA, AML & Sanctions, OFAC Type Full-Time
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at .
The Financial Intelligence Unit (FIU) is a crucial component of CIT's Financial Crimes Compliance Program.
The FIU's regulatory responsibilities include Anti-Money Laundering (AML), terrorist financing, and fraud related transaction monitoring, investigations, regulatory filings, and other mandatory oversight.
The successful candidate will conduct alert reviews and/or investigations on potential cases of money laundering, terrorist financing, fraud and/or other related financial crimes in compliance with regulatory obligations and investigative protocols.
The FIU Associate position will perform research and will write corresponding dispositions on potentially unusual or suspicious transactions/activities.
The transactions and activities are analyzed through various operating systems, AML software, and unusual transaction reports generated by CIT lines of business and support areas.
Conducting reviews and performing investigations on transaction-based alerts and escalated cases of potential money laundering, terrorist financing, and/or fraud
Leveraging internal and external sources to understand expected activity and to investigate, research, analyze and evaluate customer actions in accordance with regulatory expectations
Maintaining a designated monthly queue as assigned by management
Ensuring all alerts and/or cases are closed within required timeframes
Reasonably establishing the nature of transactional activity, and effectively documenting the decisions to close cases and/or to file Suspicious Activity Reports (SARs)
Writing detailed narratives to explain findings while including adequate levels of supporting documentation
Submitting SAR narratives and documentation to management while allowing sufficient time for review and subsequent submission to regulatory agencies
Assuming departmental projects and initiatives as assigned to define and solve issues of AML, Fraud, or Sanctions regulatory compliance
2+ years in a FIU/AML compliance role or equivalent job experience in the financial services industry is preferred
Prior investigative experience through legal expertise, law enforcement background, or other applicable channels including prior financial institution experience is preferred
Strong analytical and writing skills
Ability to identify various financial crimes and money laundering red flags
Working knowledge of AML and Sanctions regulations
Working knowledge of financial institution fraud schemes (i.e. identity theft, elder financial exploitation, vendor fraud, etc.)
Ability to conduct research by leveraging multiple internal and external systems
Highly effective communication skills
Attention to detail and organizational skills
Demonstrated ability to execute daily tasks independently and within a required timeframe
Ability to multi-task
Team player willing to accept challenges large and small
Proficiency in Windows based applications (e.g., Word, Excel and PowerPoint)
Prior experience with financial institution AML and case management tools preferred
Options Sorry the Share function is not working properly at this moment. Please refresh the page and try again later. Share on your newsfeed CIT is an Equal Employment Opportunity (EEO) employer. It is the policy of CIT to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex (including pregnancy), gender identity, sexual orientation, national origin, age, protected veteran or disabled status. If you would like more information about your EEO rights as an applicant under the law, please click here: