2023 Summer Internship Development Program - Anti-Money Laundering Client Intelligence Unit Intern (Saint Petersburg, FL)
Job Summary:
Under limited supervision, the Anti-Money Laundering (AML) Client Intelligence intern will gain specialized knowledge around how the USA PATRIOT Act and other AML regulations impact the client due diligence process within the securities and banking industries. Specifically, the intern will learn client verification and client due diligence techniques. The intern will play a key role in projects of moderate scope and complexity and serve as a technical advisor to various business lines. Will maintain extensive contact with internal customers to identify, research and resolve problems.
Essential Duties and Responsibilities:
- Execute customer onboarding verification process, including documentation collection and validation, to ensure compliance with AML rules and regulations.
- Review existing and prospective client accounts for potential matches to designated sanctions targets and prohibited persons lists.
- Investigate potential negative media alerts to identify whether a true match to a prospective or existing client and escalate, as appropriate to Management.
- Conduct Enhanced Due Diligence for various business lines on all high-risk accounts opened and/or subject to Management approval.
- Perform client due diligence reviews utilizing internal and third-party research tools.
- Research and learn about the USA PATRIOT Act in order to ensure compliance with regulations related to AML.
- Inform senior management about issues that may involve rule violations or potential liability.
- Maintain currency in laws and regulations pertaining to anti-money laundering compliance.
- Perform other duties and responsibilities as assigned.
Knowledge, Skills, and Abilities:
Knowledge of:
- In depth data analysis procedures
- General practices and procedures of securities industry and/or banking compliance.
- Rules of the USA PATRIOT Act.
- Fundamental investment concepts, practices and procedures used in the securities industry.
- Principles of banking and finance and securities industry operations.
- Financial markets and products.
Skill in:
- Planning and scheduling work to meet regulatory organizational and regulatory requirements.
- Identifying and applying appropriate data monitoring procedures and tests.
Ability to:
- Interpret and apply anti-money laundering regulations and identify and recommend compliance changes as appropriate.
- Work under pressure on multiple tasks concurrently and meet deadlines in a fast-paced work environment with frequent interruptions and changing priorities.
- Communicate effectively, both orally and in writing.
- Independently research and resolve issues while working across teams to acquire information.
- Provide a high level of customer service.
- Establish and maintain effective professional working relationships at all levels of the organization.
- Handle highly confidential information professionally and with appropriate discretion.
- Maintain currency in anti-money laundering rules and regulations and compliance examination techniques and best practices.
Educational/Previous Experience Requirements:
Junior or Senior standing at a four-year college or university in a related field and relevant internships/campus involvement.
Licenses/Certifications:
None Required.