High Net Worth BSA Analyst

The High Net Worth (HNW) Bank Secrecy Act Analyst plays a critical role in safeguarding the bank from financial crime risks by performing comprehensive Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) on high net worth individuals, families, and businesses. This role supports the BSA / Fraud Officer in identifying, assessing, and mitigating risks related to complex client structures, cross-border financial activity, offshore holdings, politically exposed persons (PEPs), and high-risk jurisdictions. The analyst works in close partnership with Compliance Team, the HNW Specialty Deposit team, and the Risk Department to ensure regulatory requirements and expectations are fully met and robust, risk-based controls are consistently applied throughout the client lifecycle. This position requires a strong understanding of financial crime typologies within the high net worth, private banking sector and the ability to apply sound judgment in high-stakes, confidential matters.

• Conduct Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews and periodic account monitoring for high net worth clients and related entities, such as trusts, family offices, holding companies, and foreign entities to determine transparency and legitimacy.
• Review public records, adverse media, PEP status, sanctions lists, and third-party data to assess reputational and regulatory risks.
• Collaborate with relationship managers to obtain necessary documentation and clarify client profiles.
• Draft high-quality due diligence reports with clear risk assessments and recommendations for account opening, retention, or escalation.
• Analyze complex transaction patterns and source of wealth documentation to detect potential red flags or suspicious activity.
• Investigate system-generated alerts related to HNW accounts and escalate cases as appropriate.
• Prepare well-documented SARs (Suspicious Activity Reports) when required and ensure filings meet regulatory standards.
• Perform ongoing reviews of HNW client activity consistent with Bank policy and procedures
• Maintain documentation in accordance with internal policies and regulatory requirements, ensuring timely updates and periodic reviews in case management systems.
• Escalate unusual activity or high-risk findings to the BSA Officer / Manager.
• Participate in quality assurance reviews, internal audits, and regulatory exams related to HNW onboarding and periodic reviews.
• Stay current with evolving BSA / AML regulations, FATF guidance, and best practices specific to (HNW) clientele.
• All employees are responsible for compliance with the Bank Secrecy Act and in some roles, OFAC regulations. Depending on your job responsibilities, more or less aspects of the regulations may apply, but at a minimum , all employees are responsible for reporting suspicious activity they identify in the course of performing their job duties. This includes activities conducted by customers, fellow employees, board members, and vendors.

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