BSA / AML Compliance Analyst

Job Description

Job Description

This position is responsible for supporting the Bank’s compliance with BSA / AML regulations and by identifying, assessing, transactions and mitigating financial crimes risks for escalated customers. This includes in-depth investigations and analysis of customers, entities, and transactions to ensure compliance with BSA, AML, and OFAC regulations. This review may involve the discovery of negative news, suspicious behavior or other risk related information which will require this position to weigh all risk factors and provide a conclusion and recommendation. The analyst is responsible for ensuring timely review and submission of Suspicious Activity Reports (SARs). The role involves staying informed on regulatory changes and utilizing the Bank’s BSA / AML systems to monitor and manage risk.

The decisions and recommendations made by the Analyst shall be relied upon by the management team and may have a direct impact on the business operations and the servicing of customer accounts, which may also carry legal and regulatory compliance obligations. Often these reviews may lead to the development of metrics, trend information, and written analysis which will be used to substantiate any risk-related recommendations, which may include changes to the BSA Program.

This role also involves a level of discretion and independent judgment in the assessment and presentation of various decision options to management as well as conducting major assignments in the effective operational implementation of the Bank’s BSA Program.

Essential Functions

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

• Conduct in-depth research on individuals and entities using public records, open-source media, internal databases and proprietary systems on a periodic and ongoing basis.
• Review AML cases generated by the Bank’s transaction monitoring system, cases created from alerts, suspicious activity referrals, subpoena, 90 day reviews, SAR filings etc. to ensure processes consistently meet regulatory requirements and internal procedures.
• Creating and maintaining an in-depth record of the investigation performed on individuals or entities.
• Investigating and escalating confirmed or suspected violations as required by procedure.
• Escalate suspicious activity and risks and to management as appropriate.
• Ensures all SARs are filed are timely and NSARs are completed by established due dates.
• Function as a support to BSA / AML Compliance Manager to assist with daily monitoring, assessment, and maintenance of AML processes and procedures.
• Liaise with Bank lines of business, including branches and other teams as needed.

Other Duties

Skills / Abilities

Supervisory Responsibility

This position does not have supervisory responsibilities.

Work Environment

This job operates in an office setting. The opportunity to telework is not available. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.

Physical Demands

This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping, or standing, as necessary.

Travel

Limited local travel may be required for this position.

Education and Experience

Equal Employment Opportunity / M / F / disability / protected veteran status

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.