Financial Crimes Specialist at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Junior (1 to 2 years), Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

One to three years of specialist experience in compliance, investigative work, or a related field
Associates Degree or commensurate work experience
Strong analytical, problem-solving, and conflict resolution skills
Demonstrated knowledge of suspicious activity in regard to financial institutions, money laundering trends, terrorist financing indicators, the Bank Secrecy Act, Anti-Money Laundering efforts, USA PATRIOT Act, Fraud, and OFAC
Functional understanding of federal and state laws and regulations pertinent to the position
Strong oral and written communication skills
Highly organized with the ability to multi-task detailed items and follow-up as needed
Proactive in identifying potential concerns and following-up to resolve such issues
Excellent teamwork, interpersonal, and relationship building skills
Ability to make decisions or know when to escalate matters to management
Ability to collaborate with others, initiate action, adapt to change, and accept challenging assignments
Ability to communicate with management
Ability to work independently and meet deadlines
Proficiency with Microsoft Office Suite

Responsibilities

Investigates, monitors, and reports on cases involving potential threats to the Bank to ensure compliance with regulatory requirements
Files applicable reports and escalates financial crime related matters when appropriate
Reviews and analyzes system activity and generated alerts in accordance with Financial Crimes Compliance expectations
Analyzes Financial Crimes and Fraud related triggers related to risk activity
Appropriately escalates matters associated with Financial Crimes activity that warrants engagement from supervisory staff
Prepares reports and recommends appropriate follow-up
Provides Financial Crimes related support and works with the first line of defense for the bank
May provide customer support to internal and external customers
Works with various business units to understand the Financial Crimes and Fraud alerted activity and to ensure compliance with laws
Possesses working knowledge of industry trends
Completes assigned work in a timely and accurate manner
Communicates effectively verbally and in writing with internal and external customers on Financial Crimes or Fraud related matters
Performs other duties as required
Adheres to the reporting and record keeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observes economic sanctions by prohibiting transactions as specified by OFAC, follows the bank’s customer identification program (CIP) rules, observes all Bank policies and procedures relating to BSA, OFAC, CIP, and related acts, and participates in ongoing related training

Skills

Financial Crimes Investigation

Fraud Analysis

Alert Review

Risk Assessment

Regulatory Compliance

Report Preparation

Bank Secrecy Act

Customer Support

Verbal Communication

Written Communication

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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