CIT Group Inc.

Associate, Fraud Investigator

Job ID
# Positions
Job Family
Compliance - Fraud


Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.



The succcessful candidate will conduct investigations on suspected cases of money laundering, terrorist financing or other related financial crimes in compliance with investigative protocols. The cases will also include alerts generated by potential sanction watch list matches and escalations from all business units. The Investigator performs research on potential unusual or suspicious transactions/activities conducted through CIT’s products and services. The transactions and activities are analyzed through the use of various CIT operating systems, AML databases, and unusual transaction reports generated by the businesses and support areas. Case load assignments will be determined by the FIU Manager taking into consideration complexity and current case load assignments.


The Investigator will be responsible for:

• Maintaining a designated monthly queue as assigned by the FIU Manager
• Ensuring all cases are closed within the designated procedural deadline
• Investigating, researching, analyzing and evaluating varying degrees of complex cases of suspicious financial activity for possible anti-money laundering violations involving all bank lines of business including Retail and Online Bank, Direct Capital, Equipment Finance and Commercial Services
• When necessary, engages in direct communication with sales personnel for the purpose of gathering additional information on customers under review
• Work cooperatively with business lines to establish procedures for identifying suspicious customer transactions, specific to money laundering and/or terrorist financing, including the proper method for reporting such activity
• Provide guidance, support, and recommendations to business lines regarding customer AML risk ratings and account activity
• Based on the outcome of the investigation; analyze and determine whether or not a Suspicious Activity Report (SARs) must be filed with the Federal Government for any identified suspicious activity..
• Documents all findings and make recommendations to flagging case as requiring change in risk rating or completion/updating KYC reviews
• Ensure that decisions not to file SARs are well supported and appropriately documented.
• Submit SARS to the FIU Manager allowing sufficient time for review and subsequent submission to FinCEN and other regulatory agencies as necessary
• ,Assumes departmental projects and initiatives as assigned to define and solve problems that involve issues of BSA and OFAC regulatory compliance and assures the effectiveness of the Banks anti-money laundering


• Bachelor’s degree required

• 3+ years in a compliance role in a regulated financial institution or equivalent job experience in the financial services industry in a regulated financial institution related to transaction monitoring
• 1-2 years drafting suspicious activity reports
• Strong knowledge of AML and Sanctions regulations
• Effective communications skills, including excellent writing and oral communications ability
• Experience in reviewing Know Your Customer files, performing analysis of customer information and transactions
• Strong analytical and problem solving skills; ability to identify, escalate, investigate and resolve issues with minimal guidance.
• Effective verbal and written communication skills; able to correspond effectively with FIU Team Lead and AML Compliance management
• Demonstrated sense urgency, attention to detail and organizational skills
• Demonstrated ability to focus on details and ability to execute daily tasks independently and effectively
• Ability to multi-task
• Ability to work in a heavily dead-line driven environment
• Team player willing to accept challenges large and small and meet them under time pressure
• Self-motivated with the ability to work independently and as a member of a team
• Proficiency in Windows and Windows based applications (e.g., Word, Excel and PowerPoint) skills
• Proficiency in internet and various database resources to facilitate due diligence/ investigations process
• Skilled in conducting research and analysis
• Preferred experience with AML tools (e.g., AML monitoring system such as Actimize) and case management tools.


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