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Financial Crimes Specialist

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Date: Jan 15, 2019

Location: Sioux Falls, SD, US, 57108

Company: Sammons Financial Group

Sammons® Financial Group’s (SFG) member companies offer some of today’s most sought after life insurance, annuity, and retirement planning products. Unlike most financial organizations, our companies are not publicly traded, which means we’re focused on long-term value rather than short-term earnings pressures. As a privately held company, our leaders and employees remain consistently focused on long-term growth, making decisions that allow us to deliver on our commitments to customers, distribution partners, our employees, and our communities. Individually, our companies provide value in the products and services they offer. Together we represent a history of strength and longevity. 


SFG is looking for a Financial Crimes Specialist who will be will work either in the Anti-Money Laundering (AML) Department or Special Investigations Unit (SIU) areas of the Company. AML and SIU are two functional teams under the Financial Crimes Unit and report to the AML & Financial Crimes Officer. This position will have primary accountability for either AML or SIU duties but will have some degree of interaction and support for the other functional team outside of their primary responsibilities. The Financial Crimes Specialist will be responsible for gathering, analyzing, and documenting information related to money laundering and/or fraud investigations of life insurance and annuity products. The Specialist will assist the Financial Crimes Unit with investigating suspected fraud, questionable financial transactions, irregular agent/policyholder business activity, and analyzing large amounts of data for anomalies or financial crime. The Specialist will monitor suspicious activities/transactions for fulfilling requirements under applicable State or Federal regulatory reporting. This position will also be responsible for AML and/or fraud initiatives such as special projects or process improvements. Additional required activities may include interaction with employees during AML and fraud training sessions performed by the Financial Crimes Team.


What we are looking for:

  • Bachelor’s degree in Accounting, Finance, or Criminal Justice preferred
  • Completion of the AML Foundations Course through ACAMS within the first 12 months of employment
  • CAMS/CFE certification, or pursuit of CAMS/CFE certification preferred
  • Prior experience in investigation of fraud, money laundering, and/or criminal behavior preferred
  • 3 to 4 years of experience in financial crimes, fraud investigation, and/or financial services
  • Strong desire to learn about anti-money laundering, fraud, and financial crime investigations
  • Strong problem solving, research and analysis skills
  • Ability to prioritize multiple projects and allocate time as needed
  • Excellent organizational skills and attention to detail
  • Effective written and verbal communication skills
  • Ability to adapt to change and able to work in a fast paced environment
  • Ability to identify patterns of suspicious fraudulent activity and the intuitiveness necessary to respond accordingly
  • Life and annuity business knowledge preferred
  • Demonstrated proficiency in Microsoft (Excel, Word, Access) and an ability to compile data and prepare experience reports to management
  • Proficient in data analysis
  • Strong team player with excellent interpersonal skills
  • Up to 10% travel may be required


What you can expect when you join SFG:

  • A casual dress code including jeans 
  • A rich company culture driven by private ownership and intentional leadership inspiring employees to engage in our healthy, high-performing and values based culture.
  • Healthy balance between work and personal lives.  Friday afternoons off all year long, competitive PTO and generous number of paid holidays
  • Great benefits including medical, dental, vision, wellness plan, charitable giving programs, education assistance… to name a few
  • ESOP- A generous 100% company funded retirement plan


Essential Functions of Positon:

  1. Comprehends AML/fraud risks and risk management processes in order to assist in identifying and monitoring the risks.
  2. Analyzes information, documentation, and other potential evidence (from various sources such as contract files and related information, public records, recorded calls, etc.) to support Financial Crime investigations, periodic reporting, and responses to law enforcement and regulatory agency inquiries.
  3. Obtain documentary proof of suspicious AML/SIU transactions and ensure effective record keeping of the suspicious transaction identified.
  4. Analyze reports and conduct related due diligence in identifying activity that may require further AML/SIU investigation.
  5. Create periodic summary reports and written communications of the findings. Take the initiative to communicate emerging or changing AML or fraud risks and related control opportunities or enhancements.
  6. Participate in the tracking and monitoring of AML trends or suspicious business activity using Company systems. Collaborates with the AML/SIU Team in the maintenance of the Financial Crimes databases of investigations which is necessary for retaining documentation of investigations. 
  7. Maintains awareness of key process changes, system changes, organization structure, and key outsourcing arrangements/vendor exposure and how they impact AML and fraud risk management.
  8. Responsible for monitoring internal and external fraud and/or AML issues and address/resolve “Red Flag” issues.
  9. Responsible for drafting reports on inquiries from State and Federal agencies.
  10. Supports the AML and/or Financial Crimes programs by developing reports on AML and anti-fraud trends.
  11. Participates in special projects and experience studies as requested by management and /or State or Federal Agencies.
  12. Participates with duties and responsibilities of the overall AML/SIU function.
  13. Contribute to policies and procedures maintenance and revisions to manuals to adhere with new regulatory requirements related to AML/SIU functions.
  14. Have an instructional subject matter expert role in the AML/SIU training needs of employees and retain documentation of completion of the training.
  15. Collaborates in the review and update of operating guidelines for AML/SIU procedures.
  16. Involved in the testing of newly implemented AML/SIU systems and/or procedures.
  17. Participate in review and investigation of suspicious activities/transactions and maintain documentation of Suspicious Activity Reports or State Fraud Referrals.
  18. Complete CAMS Immersion Series Courses through ACAMS within the first year of hire.
  19. As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
  20. Other duties as assigned.


If your focus within the department is AML related:

  1. Within the Patriot Manager Transaction Monitoring Program, investigate and assess AML and OFAC alerts for the potential of money laundering risks.
  2. Ensure timely, efficient reporting of suspicious transactions to the AML Officer and write escalation summary documentation in the Patriot    Manager system.
  3. Investigate, review and resolve AML related and economic sanction related alerts
  4. Become familiar with the Agent AML Training Database and LIMRA extract feeds.
  5. Assist the SIU Team Members when business needs arise.


If your focus within the department is SIU related:

  1. Become familiar with the SIU SharePoint Case Management System.
  2. Clearly communicate verbally with clients and agents in relation to Siu investigations.
  3. Draft clear and concise written reports on investigative findings.
  4. Assist the AML Team Members when business needs arise.

Nearest Major Market: Sioux Falls

Job Segment: Financial, Risk Management, Finance

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