1 My Dream Job Robert Faulkner Indiana State University Crim 316: Introduction to the Criminal Justice System Arif Akgul, Ph.D 01/21/2024 2 My Dream Job I was 24 years old just after being medically discharged from the United States Navy and was tasked with finding a job. Coming out of the military where I worked as an EOD Technician, I found the transition into the civilian job market was daunting. It wasn’t nearly as simple as taking the ASVAB and choosing a military occupational specialty. After countless months of applying and considering my options, I decided to embark on a career in banking. I was offered a position as a fraud detection agent. This career choice was nowhere near my previous one, but I moved forward and started immersing myself in the world of fraud. Over the next nine years I spent the first part of my career working every facet of fraud I could. Working within these multiple departments would inevitably be the stepping stone to the realization of my dream job. I want to expand into anti-money laundering and Bank Secretary Act roles and do my part in solving the non-traditional money laundering we see today as a Director of AML/BSA. Directors who are typically housed within this position must be a jack of all trades as they are responsible for maintaining the bank's compliance regarding all laws and regulations. A master’s degree in a related field such as finance, economics, forensic accounting, or cyber security and criminology is mandatory. With only a bachelor’s degree, 15 years of experience must also be obtained. An individual in this position must always be willing to learn new skills daily, as fraud and the tactics the fraudsters use change weekly. Having certifications such as ACAMS certification or CFE certification can certainly set you up for success but are not mandatory. They must be skilled in all facets of fraud such as fraud mitigation, fraud detection, fraud prevention, anti-money laundering, Bank Secretary Act, and OFAC sanctions. All of these skills get incorporated into a model, and a financial institution will build its risk appetite. The director of AML/BSA would play a heavy hand in this risk appetite ensuring 3 that the bank is not taking too much risk while still servicing and making its clients happy. They are responsible for working closely with the risk and compliance teams to ensure that all laws and regulations are being followed. They also help in the procurement of fraud mitigation and prevention strategies by procuring the rules within the algorithms that catch the fraud. Throughout all these jobs and responsibilities, the main goal is that the department is to protect the shareholders, the bank, and its clients. A major part of that is working with law enforcement and government agencies when cases arise and meet certain criteria. If met, they are responsible for ensuring the proper forms and SAR’s are uploaded correctly into FinCEN following all laws and regulations, and that the case gets moved forward with the proper agency or department. My personal experiences play a significant role in being qualified for and wanting to work in this position. Early in my career, I have worked in multiple facets of fraud including as a digital fraud analyst, AML/BSA analyst, cross-channel fraud analyst, and AML/BSA investigator. I currently am in a role supporting BSA and AML operations in investigations. I believe that real-life events have played a significant role in my career choice. After 9/11, I knew I wanted to serve my country. With me being medically discharged, I wanted to find other ways to serve, and the support provided in anti-terrorism and money laundering fills that void for me. I enjoy being an integral part of the bank's continuity plan and helping build strategies as we move forward in technology. This position provides a segue into so many different facets of the bank within fraud. The Director of BSA/AML at a bank plays a key role in its daily operations. They take pride in performing due diligence and lead the way on a path towards anti-money laundering activities. While not playing a direct role, they do their part in securing our nation’s borders and preventing the spread of terrorism. It’s a role that can provide daily gratification while keeping 4 you on your toes. Every day is a new adventure and staying on top of your game and being knowledgeable of all upcoming fraud trends is critical. The Director of BSA/AML is one of the most prestigious positions within fraud, and obtaining the qualifications is my goal. References
