BSA/AML Analyst – All Markets
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Performs daily review, monitoring and analysis of various reports, logs and transaction data to identify trends unusual activity, and monitor large currency activity; determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loan payments, and certificate of deposit purchases, wire, or ACH transfers, monetary instrument sales, new account openings, etc.
- Conducts suspicious activity report investigations of escalated alerts, high risk customer/account reviews, and assists in the preparation and filing of the SARs within required timeframes.
- Assists with the individual risk assessment and ranking of customers through analysis of Customer Due Diligence within BSA/AML software.
- Assists in the preparation and filing Currency Transaction Reports (CTRs) within required timeframes.
- Assists in the administration of the automated BSA/AML system, researches and resolve alerts/cases and conducts investigations with the system.
- Performs periodic Enhanced Due Diligence analysis reviews on high risk and CTR exempt customers.
- Performs periodic OFAC verification scrub of customer base.
- Assists in the compliance with FinCEN 314(a) (PATRIOT Act) responsibilities.
- Performs a monthly oversight review of new accounts for compliance with Customer Information Program/Know Your Customer (CIP/KYC), Customer Due Diligence (CDD), and Beneficial Ownership requirements.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE
- Completed or actively pursuing Bachelor’s in Accounting, Business, Economics, Finance, or related field highly preferred.
- Ideal candidate will have at least six (6) years related experience in the consumer compliance, risk management, process improvement, audit or the legal field related to lending, deposits, or another highly regulated field relating to financial services.
- 2 years concentrated experience in BSA/AML.
- Strong critical thinking and problem solving skills.
- Maintain current knowledge of the Bank Secrecy Act, Customer Information Program, Customer Due Diligence, OFAC, and all related anti-money laundering regulations.
- Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures.
- Working knowledge of red flags for money laundering, fraud, structuring, counter financial terrorism, and other financial crimes.
- Ability to apply professional skepticism to business unit representations and apply an appropriate degree of evidence to support conclusions reached.
- Must have a strong knowledge of industry and business economical perspectives.
- Advanced knowledge of banking operations.
- Ability to communicate at all levels. Strong verbal and written communications skills, must be a team player.
- Ability to work independently with limited direction from supervisor.
- Proficient in Excel, Word, and PowerPoint.
- Professional certification(s) such as Certified Anti-Money Laundering Specialist (CAMS) or completion of specialized training in compliance or applicable certifications.
Ability to read, analyze, and interpret and governmental regulations. Ability to write reports and business correspondence. Ability to effectively present information and respond to questions from bank staff.
Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations. Strong quantitative analytical skills.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions and deal with several abstract and concrete variables.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit. The employee frequently is required to talk or hear. The employee is occasionally required to stand, walk, and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually very quiet.