Description

The BSA/AML Analyst position focuses on identifying suspicious activity through automated and manual processes, risk rating of business customers, review of CTRs AND SARs prior to filing and the review of Enhanced Due Diligence Reviews. The position is also responsible for the testing of procedures to ensure compliance with regulations and quality of work.

Essential Functions and responsibilities: 

• Review documentation for all new commercial 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 the activity is reasonable or potentially suspicious. Document the research performed clearly and concisely and elevate activity that may warrant a SAR filing.
• Review and approve High-Risk Customer EDD reviews (Non-SAR).
• Develop SAR narrative, independently, when it is determined that an initial or continuing SAR will be filed.
• Review CTRs and 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 reviews and testing of various procedures and responsibilities, including CTRs, CIP exceptions, OFAC verifications, Red flags for all departments and IATs, to ensure accuracy and compliance with BSA/OFAC regulations.
• Perform transaction testing of accounts risk-rated low and medium.
• Perform transaction update reviews.
• 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 in responding to findings and recommendations from the various initiatives and implementation of Program enhancements, new procedures, etc.
• Attend required training and completed it within the required timeline.
• Perform other duties as required.

Requirements

• High School Diploma or equivalent
• 3 years of general banking experience
• Experience with AML monitoring systems
• Windows and Excel proficiency
• A high degree of analytical skills
• Ability to work well independently and with others
• 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
• A high degree of accuracy and attention to detail
• Strong follow-through skills
• Strong communications skills, written and verbal
• Organizational and time management skills
• Strong knowledge of bank services and products