AML & Fraud Programs Associate Specialist at Northern Trust · Chicago

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Job Title: AML and Fraud Programs Associate Specialist

Department: WM BU Control

Location: Chicago, IL

Summary:

The Wealth Management Enterprise Risk and Regulatory Control Team is part of the Wealth Management Business Unit Control Function and is responsible for the development, collection and reporting of risk and control metrics, and Fraud, AML and Regulatory Change Management for the Wealth Management Division.

The Anti Money Laundering (“AML”) and Fraud Program Analyst is responsible for supporting the AML Lead and Fraud Lead with various tasks including: AML governance monitoring, AML training, supporting NT partners with completion of complex due diligence and periodic reviews, implementation of fraud awareness campaigns, completing fraud risk assessments, root cause analysis and presentation of fraud metrics to key stakeholders and assisting with fraud incident research and implementation of fraud control enhancements.

This role involves understanding AML requirements, systems, and processes as well as detection, prevention, and mitigation of internal and external fraud risks, and requires independent and collaborative work on moderately complex projects.

Key Responsibilities:

• Support NT partners in the completion of AML required processes.

• Review AML metrics and report any exceptions to the AML Lead and other key business partners.

• Research and analyze potential fraud cases to identify patterns and prevent future fraud.

• Detect and prevent fraudulent transactions using various research methods. Detect and prevent fraudulent transactions using various research methods.

• Prepare summaries and reconciliations in Microsoft Word, Excel, PowerPoint or other applications as needed.

• Review and respond to complex fraudulent support requests.

• Identify areas requiring enhanced fraud mitigation procedures or software to protect client assets.

• Evaluate internal processes to identify control weaknesses, assess the potential for loss and make recommendations to strengthen controls.

• Develop recommendations to remediate and mitigate loss.

• Provide training and guidance to partners on fraud, red flags and AML requirements.

Requirements and Qualifications:

• Bachelor's degree in a relevant field.

• 3-4 years of related experience in fraud analysis and/or Anti-Money Laundering processes.

• Strong analytical, research, and problem-solving skills.

• Excellent communication and documentation abilities.

• Enjoys working with others in person, via calls, and email.

• Organized and able to handle multiple tasks/projects simultaneously.

• Detail-oriented and thorough, ensuring all aspects of a task/project are completed properly.

• Ability to work independently and collaboratively on projects.

• Knowledge of AML and fraud detection tools and techniques.

• Understanding of internal and external control frameworks and risk mitigation strategies.

• Technical Skills: Microsoft Office 365, experience with fraud and AML third party systems, preferably Actimize and Verafin.

Reporting Line:

Reports to: Compliance, Risk and Control Reporting BU Control Manager

Work Nature:

Independent and collaborative; contributes to moderately complex aspects of projects.

Salary Range:

$95,600 - 162,400 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us: 

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater 

Reasonable accommodation

  

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.

 
We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.