Sr. BSA/AML Analyst II
Essential duties and responsibilities include:
- 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 time frames.
- 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 time frames.
- 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.
Education and/or Experience
- Completed or actively pursuing Bachelor’s in Accounting, Business, Economics, Finance, or related filed highly preferred.
- 5+ years’ experience in banking such as: Bank Operations, BSA/AML, Compliance, or related Risk Management experience.
- Strong critical thinking and problem solving skills.
- 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.
- Advance 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.