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EDD Associate

New York, NY

Come work with us:

Metropolitan Commercial Bank (the “Bank”) is a full-service commercial bank based in New York City. The Bank provides a broad range of business, commercial, and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities, and local government entities.

Metropolitan Commercial Bank was named one of Newsweek’s Best Regional Banks and Credit Unions 2024. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2023 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB+ (investment grade) deposit rating on January 25, 2024. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024.

Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan, Boro Park, Brooklyn and Great Neck on Long Island in New York State.

The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).

 

Position Summary:

The primary function of this position is performing scheduled periodic enhanced due diligence (EDD) reviews of the Bank’s high-risk customers in support of the Bank’s BSA/AML Know Your Customer (KYC) policies and procedures. In addition, document EDD conclusions and rationale in system of record and identify/escalate potentially suspicious activity in accordance with internal procedures.

We have a flexible work schedule where employees can work from home one day a week.

Essential duties and responsibilities:

  • Performing EDD reviews of all assigned high risk customers in a timely and efficient manner.
  • Documenting EDD review findings in the appropriate databases to include all pertinent facts and information, such as the preparation of narrative reports summarizing actions, findings and recommendations for next steps.
  • Recommending clear and concise referrals to the Financial Intelligence Unit for further investigations and potential SAR filing.
  • Assist EDD Team Lead in working with BSA managers and staff to ensure compliance with the Bank's overall BSA/ AML Compliance Program.
  • Suggest process enhancements and/or research tools to increase efficiency and/or accuracy.
  • Assist with the preparation and delivery of ad-hoc BSA/ AML and OFAC compliance training based upon changes in regulatory requirements and/ or emerging typologies.
  • Maintaining awareness of regulatory updates and incorporate process and procedural changes into the EDD review process as directed by management.
  • Interface with MCB’s business units to satisfy any relevant questions or issues that arise during such reviews.

Required knowledge, skills and experience:

  • Minimum of 5+ years of High Risk EDD reviews, CIP/KYC Customer Onboarding, and knowledge of transaction monitoring.
  • Experience reviewing domestic and international customers such as MSBs, Correspondent Banks, crypto platforms, hedge funds, real estate developers.
  • Diverse and in-depth understanding of BSA/AML rules, regulations and practices.
  • Knowledge of trends/typologies in money laundering and fraud schemes.
  • Excellent investigative, analytical, deductive reasoning and troubleshooting skills with the ability to understand and draw conclusions from research conducted.
  • Effective time management and organizational skills to prioritize and complete work in a timely manner.
  • High level of professional aptitude and standards.
  • Ability to work both independently and collaboratively.
  • Proficiency in MS Office; Word and Excel.
  • Experience with automated transaction monitoring system Verafin a plus.

Potential Salary: $100,000 - $110,000 annually

This salary range reflects base wages and does not include benefits, bonus, or incentive pay. Salary bands are purposefully wide ranging to encompass the different factors considered in determining where a candidate falls in the range, including but not limited to, seniority, performance, experience, education, and any other legitimate, non-discriminatory factor permitted by law. Final offer amounts are determined by multiple factors including candidate experience and expertise and may vary from the amounts listed here.

Metropolitan Commercial Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

This applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.

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