Anti-Money Laundering (AML) Intern

Job Description

Anti-Money Laundering (AML) Intern | UMB

The Tone:
This is an internship at UMB. The company is bound by crucial Anti-Money Laundering (AML) regulations that financial institutions must adhere to, designed to safeguard both UMB and its communities from those who aim to exploit the U.S. financial system for criminal activities against the state or individuals. This AML Intern role contributes directly to generating intelligence considered vital by law enforcement for protecting communities. The AML team fosters a highly collaborative environment, emphasizing shared ideas and constructive challenges to achieve the most accurate understanding of customer activity and transactions, all while working to recognize individual achievements.

The TL;DR
• Role: Internship
• Pay: $25640–$49440 yearly
• Team: Collaborative AML team involved in assessing customers and their transactions.
• Mission: Detect and report suspicious financial activities to protect communities and prevent exploitation of the U.S. financial system.

What You’ll Actually Do
• Review & Pattern Detection: Receive thorough training on how to systematically review financial transactions, with a specific focus on identifying patterns of activity that deviate from a customer’s normal behavior or may indicate an attempt to obscure the true nature of the financial transactions.
• Research & Escalation Procedures: Develop skills in conducting in-depth research on customer accounts and transactions to unearth additional pertinent information, and learn the established protocols for effectively escalating matters requiring higher-level scrutiny and review.
• Regulatory Compliance & Reporting Support: Gain practical experience and knowledge regarding the U.S. sanctions program and the FinCEN 314a program, assisting with reviews of customers and transactions to ensure adherence to compliance standards, and supporting the gathering of critical information for currency transaction reports.
• Analytical Contribution & Documentation: Contribute to the analytical assessment of customer activity to help detect suspicious behaviors that could signify the exploitation of the financial system, and meticulously document all findings from reviews in a clear, concise, and comprehensive manner, essential for evidencing the team’s work.

The Must-Haves
• Background: Currently enrolled in a bachelor’s degree program. This is an early career internship position.
• Experience: No specific prior work experience is strictly required.
• Skills: Possess strong analytical abilities, a curious mindset with an enjoyment for asking questions and considering differing viewpoints, and strong proficiency in written communication.
• Bonus: Enrollment in a bachelor’s program with an emphasis in Business, Criminal Justice, or Pre-Law is preferred.