Position Summary: The BSA/AML Analyst position focuses on identifying suspicious activity through automated and manual processes, risk rating of deposit accounts, performing Enhanced Due Diligence Reviews and the review of SARs prior to filing.
Qualifications Required:
- High School Diploma or equivalent
- 3 plus years of BSA compliance experience, including transaction analysis for suspicious activity
- 1 plus year experience with Anti Money Laundering (AML) monitoring systems
- Windows and Excel proficiency
Success Factors/Job Competencies:
- Ability to work well independently and with others
- High degree of accuracy and attention to detail
- Strong communication skills, written and verbal
- Organizational and time management skills
- Ability to multi-task
- High degree of analytical skills
Essential Functions and Responsibilities:
- Review Customer Due Diligence documentation for all new deposit accounts and risk rate accounts per the Bank’s risk rating criteria.
- Independently investigate alerts generated by the Bank’s AML monitoring system and determine if activity is reasonable or potentially suspicious. Document the research performed in a clear and concise manner and elevate activity that may warrant a SAR filing.
- Perform High Risk Customer EDD Reviews- including transaction analysis, negative news searches and document with concise, well written, accurate summaries of analysis and determination if activity is reasonable or requires escalation to BSA/AML Officer.
- Develop SAR narrative, independently, when it is determined that an initial or continuing SAR will be filed. Narratives should be concise, well written, accurate and correct.
- Review SARs prior to filing for accuracy, completeness, and concise, well-written SAR narrative.
- As assigned, conduct extensive reviews on customers on which a Suspicious Activity Referral Form has been submitted by a branch or other Bank department.
- Analyze various reports and data such as the wire logs, currency and IAT reports for suspicious activity, transaction patterns, high risk countries, etc. and perform appropriate investigations.
- Perform reconciliation of High Risk Customer List
- Perform transaction testing of accounts risk rated low and medium
- Assist all business units with BSA/AML OFAC- related issues
- Escalate all activity identified as potentially suspicious to the BSA Officer for a SAR filing determination
- Assist BSA Officer or designee with preparing for initiatives including- OCC BSA exam, OCC MLR, BSA risk assessment, BSA audit, or BSA system validation, etc.
- Assist BSA Officer or designee in responding to findings and recommendations from the various initiatives and implementation of Program enhancements, new procedures, etc.
- Routinely review procedures related to job responsibilities to ensure adherence and recommend revisions to the BSA/AML Officer
- Cross train new and existing BSA staff, as directed by the BSA/AML Officer
- Ability to take initiative to identify enhancements to BSA processes and execute next steps in conjunction with BSA Officer/Compliance Officer and/or BSA Team
- Develop a strong knowledge of bank services and products
- Regular and predictable attendance
- Adhere to all the policies, procedures, and requirements outlined in the Employee Handbook
- Comply with all Bank policies, procedures, audit requirements, and federal regulations as related to this position
- Complete all required training within deadlines as related to this position
- Perform other related duties as assigned
- Salary Range: $40,000-$60,000 annually