Senior BSA Analyst

Overview

JOB SUMMARY :

The Senior BSA Analyst supports the Banks enterprise-wide BSA Program to ensue all BSA regulatory requirements are met to protect the Bank from losses. Responsible for investigating and monitoring customer transactions using automated monitoring systems and reporting transactional testing across all business lines. The Senior BSA Analyst analyzes accounts for unusual or suspicious activity, including but not limited to the following sources : AML monitoring system, reports, branch referrals, new accounts, subpoenas, 314(a) alerts, 314(b) requests and OFAC. Recommends course of action to management based on an analysis of the findings and documents the analysis in the Banks case management system. Assist in training and mentoring in the monitoring of new products, mitigating money laundering risks to the Bank and its customers. Assist with work management and training duties. Performance other relevant reporting responsibilities as designated by the BSA Officer and the Chief Risk Officer.

Essential Duties and Responsibilities

• Perform Customer Due Diligence (CDD) including analysis review of anticipated vs actual activity and the ability to understand and evaluate industry specific transaction expectations.
• Complete EDD (Enhanced Due Diligence) reviews of the banks high-risk customers.
• Perform research, analysis, and investigation of the entire customer relationship.
• Daily monitoring and analysis of various reports and transaction data to identify trends, unusual or suspicious activity, and / or significant changes in account activity.
• Perform research and negative news searches, online searches, and subscription-based resources when reviewing a customers account activity.
• Review and maintain various BSA reports for accuracy, monitor and refer suspicious activities to the proper BSA unit for further investigation.
• Maintain well organized electronic records, including spreadsheets, and written reports of completed reviews
• Review Alerts, Case Reviews with ability to make SAR or No SAR conclusions. Includes the ability to evaluate supporting documentation and translate into a narrative investigation.
• Document all findings in a centralized case management system, to include writing a detailed narrative supporting findings. This includes the filing of a Suspicious Activity Report (SAR) when necessary.
• Exercise solid judgment while examining, identifying, and documenting suspicious activity behaviors and patterns, to include whether the filing of a Suspicious Activity Report is appropriate. When appropriate escalate and / or refer problem accounts or customer based on an applicable procedure.
• Investigates cases involving, but not limited to, cash structuring, transactions involving Bank designated High Risk Countries (HRC), wire transfers, commercial loan payments, and reports from branches regarding customers activity.
• Reviews and investigates any potential matches to the FinCen 314a list.
• Researches or recommends 314 (b) information requests as assigned.
• Communicates with branch and department managers, for clarification when researching and investigating cases as necessary. Documents results of investigations on case management system to ensure it meets reporting requirements of both internal and external entities. Substantiates non-SAR decisions with documentation.
• Keep direct supervisor abreast of any significant events that affect the day-to-day activity.
• Maintains thorough knowledge of the Banks systems used to conduct research of customer transaction activity. Makes recommendations for closing accounts and performs associated follow up to ensure closure of the accounts.
• Maintains good understanding of the BSA regulations and FinCEN guidelines related to BSA Suspicious Activity Reporting and current money laundering schemes and investigative techniques required to detect such schemes.
• Keep up to date with the latest trends in the industry.
• Assist with management and implementation of policies, processes, and procedures.
• Provide training to other analysts in various capacities and assist in bank-wide training, as needed
• Perform other duties as assigned

Required Skills and Abilities

Education / Licenses / Work Experience

Work Environment

Physical Demands

The work environment characteristics and physical requirements described here are representative of those which an employee in this position encounters while performing the essential functions of this position. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions.

Pay Range : $87,000.00 to $90,000.00 annually. Pay range may vary based on skills, experience, and location.

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