Senior BSA/AML Specialist

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This Position requires the ability to work in the Salem, MA offices. 

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. 

Salem Five believes deeply in supporting the communities in which we reside.

Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA.

We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees.

Come see what we’re all about.   

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.

Other duties may be assigned.

The primary duties require the comparison and the evaluation of possible courses of action, without immediate direction or supervision, concerning monitoring alerts and SARs, and in conducting due diligence reviews and investigations.  The position exercises discretion about the nature and scope of the investigation to identify risks and uses independent judgment in making recommendations about outcomes or resolutions to report suspicious activity related to money laundering, underlying criminal activity, or structuring.  The position also serves in a backup capacity for the BSA Officer and CTR Administrator.


* Using the Bank’s AML/Fraud Monitoring system, investigate and assess alerts relating to potential money laundering and fraud risks in the organization; make use of transactional and customer records, reports and publicly available information to identify and research patterns and anomalies in customer data to detect suspicious activity related to money laundering, underlying criminal activity or structuring; document investigations of unusual banking activity to support decision-making for federal Suspicious Activity Reports; provide investigative results to the Bank’s AML Committee for review.


* Using the AML/Fraud Monitoring software and system reports, identify high risk customers for enhanced due diligence (EDD).

Maintain accurate and complete records on the Bank’s high-risk customers, including documentation of enhanced monitoring.


* Using the AML/Fraud Monitoring software and system reports, perform annual extended due diligence on High-Risk Customer types that include but are not limited to MSB’s and Private ATM customers.


* Using the AML/Fraud Monitoring Software and system reports, perform quarterly extended due diligence on High-Risk customer types that include MSB’s and Private ATM customers.


* Actively participate on the Bank’s AM...