INTERNSHIP - AML Compliance
Société Générale - New York NY

Internship Category: Paid

Description
Description
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  • Environment

    DEPARTMENT DESCRIPTION

    The Transaction Monitoring Group (TMG) is a surveillance unit within AML Compliance with centralized responsibility for the Bank’s AML transaction monitoring systems and processes. The TMG manages the rules and parameters used in the Bank’s automated transaction monitoring system and handles cases generated by the system for review, and investigation and closure or reporting. The TMG also conducts other manual processes outside of the monitoring system to identify and ultimately report unusual activity.

    Mission

    MAIN ACCOUNTABILITIES

    Their primary focus is assisting the Financial Intelligence Unit to prevent the use of Societe Generale facilities for money laundering, terrorist financing, bribery, corruption and cybercrime.

    • To assist with management of the FIU Log through entries and transactional searches on parties identified in news sources.
    • Responsible for performing independent reviews and analysis of possible suspicious activity to ensure compliance with the Bank Secrecy Act and the USA Patriot Act.
    • Recommends course of further action for most events, but may seek guidance from a manager when analysis identifies unusual or uncommon situations.
    • Reviews complex investigations and provides findings to management to evaluate potential risk to the Bank.
    • Research and verify the accuracy of information obtained through referrals and in the context of investigations.
    • Independently conduct documented enhanced due diligence on individuals, and entities, utilizing all available resources and exercise risk based judgment to develop findings and recommendations.
    • Investigate and respond to 314(a)/314(b) inquiries from law enforcement and financial institutions.
    • Investigate and research cases involving potentially suspicious situations and efficiently arriving at sound risk based conclusions.
    • Clearly, concisely, consistently document and support judgments, decisions and rationale including maintaining records in accordance with business unit standards.
    • Prepare of regulatory reports (SARs) within regulatory guidelines.
    • Apply project management and organization skills to a variety of tasks including ad-hoc assignments.
    • Collaborate with team to implement initiatives and projects sponsored and approved by management

    Profile

    COMPETENCIES

    Required:
    • Possess strong analytical, and written communication skills and be able to clearly synthesize thought process and rationale behind
    • Strong attention to detail
    • Ability to work under minimal supervision

    Preferable:
    • Strong research skills, advanced skills in the use of Microsoft Word, Excel, PowerPoint, Prime Compliance Suite, and experience with online research systems including web-based tools
    • Knowledge of multi-cultural situations and languages with the ability to apply them efficiently to the AML surveillance field

    TECHNICAL SKILLS

    Required:
    • MS Office Suite

    Evolution

    PRIOR WORK EXPERIENCE

    Preferable:
    • 1-2 years experience in Anti Money Laundering or OFAC case investigations
    • Experience in assisting with AML/OFAC special projects or AML/OFAC implementation of new/updated procedures

    EDUCATION

    Required:
    • BA/BS

    Environment

    DEPARTMENT DESCRIPTION

    The Transaction Monitoring Group (TMG) is a surveillance unit within AML Compliance with centralized responsibility for the Bank’s AML transaction monitoring systems and processes. The TMG manages the rules and parameters used in the Bank’s automated transaction monitoring system and handles cases generated by the system for review, and investigation and closure or reporting. The TMG also conducts other manual processes outside of the monitoring system to identify and ultimately report unusual activity.

    Mission

    MAIN ACCOUNTABILITIES

    Their primary focus is assisting the Financial Intelligence Unit to prevent the use of Societe Generale facilities for money laundering, terrorist financing, bribery, corruption and cybercrime.

    • To assist with management of the FIU Log through entries and transactional searches on parties identified in news sources.
    • Responsible for performing independent reviews and analysis of possible suspicious activity to ensure compliance with the Bank Secrecy Act and the USA Patriot Act.
    • Recommends course of further action for most events, but may seek guidance from a manager when analysis identifies unusual or uncommon situations.
    • Reviews complex investigations and provides findings to management to evaluate potential risk to the Bank.
    • Research and verify the accuracy of information obtained through referrals and in the context of investigations.
    • Independently conduct documented enhanced due diligence on individuals, and entities, utilizing all available resources and exercise risk based judgment to develop findings and recommendations.
    • Investigate and respond to 314(a)/314(b) inquiries from law enforcement and financial institutions.
    • Investigate and research cases involving potentially suspicious situations and efficiently arriving at sound risk based conclusions.
    • Clearly, concisely, consistently document and support judgments, decisions and rationale including maintaining records in accordance with business unit standards.
    • Prepare of regulatory reports (SARs) within regulatory guidelines.
    • Apply project management and organization skills to a variety of tasks including ad-hoc assignments.
    • Collaborate with team to implement initiatives and projects sponsored and approved by management

    Profile

    COMPETENCIES

    Required:
    • Possess strong analytical, and written communication skills and be able to clearly synthesize thought process and rationale behind
    • Strong attention to detail
    • Ability to work under minimal supervision

    Preferable:
    • Strong research skills, advanced skills in the use of Microsoft Word, Excel, PowerPoint, Prime Compliance Suite, and experience with online research systems including web-based tools
    • Knowledge of multi-cultural situations and languages with the ability to apply them efficiently to the AML surveillance field

    TECHNICAL SKILLS

    Required:
    • MS Office Suite

    Evolution

    PRIOR WORK EXPERIENCE

    Preferable:
    • 1-2 years experience in Anti Money Laundering or OFAC case investigations
    • Experience in assisting with AML/OFAC special projects or AML/OFAC implementation of new/updated procedures

    EDUCATION

    Required:
    • BA/BS

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