BSA Analyst

Position:  BSA Analyst

Reports To:  Compliance Officer

Reports To This Position: None

FLSA Status: Non-Exempt

Role Summary:   

This position is responsible for identifying, analyzing, and reporting data to ensure the Bank’s compliance with all functions that relate to, but are not limited to, the Bank Secrecy Act (BSA) and OFAC throughout the Bank.

Specific Job Functions (Duties/Responsibilities):

• Independently analyze and decision BSA-related exceptions (e.g. continuous software transaction monitoring alerts-including high-risk scenarios, OFAC matches, SARs, etc.) in a timely manner within daily, weekly, monthly, quarterly, and annually set timelines.
• Utilize BSA/AML software to identify data patterns consistent with suspicious activity and/or in conflict with expected customer volume.
• Make logical judgment conclusions to independently determine any appropriate BSA-related action (e.g. identification of suspicious activity requiring Suspicious Activity Report filing, identification of risk requiring Enhanced Due Diligence monitoring, etc.) based on internal and external resources.
• Onboard moderate to complex BSA documentation into BSA/AML software and analyze to identify trends in order to ensure compliance, identify exceptions or report suspicious activity as appropriate.

• Maintain up-to-date knowledge of all BSA-related regulations and trends thru ongoing continuing education via webinars, seminars, internal training, independent education, etc.

• Provide daily support for all branch and departmental personnel related to the BSA.
• Develop and modify Bank forms to ensure all required BSA information has been properly documented.
• Participate in regulatory examinations.
• Perform other duties as assigned.

JOB REQUIREMENTS:

Knowledge/Skills/Abilities Required:

• Strong analytical skills with attention to detail and ability to identify, interpret, and elevate critical information from detailed documentation, ability to utilize risk-based decision-making methodology.  
• Ability to recognize and focus on critical data details to identify and think through issues to make logical conclusions.

• Ability to make sound decisions within proper authority and use good judgment based on authority vested by Compliance Officer and Bank policy and procedures; know when to refer situations to a higher authority.
• Ability to work in a high-information, high-responsibility, frequently changing environment.
• Ability to work independently with limited supervision and to plan and organize daily workflow to achieve set objectives and deadlines.

• Excellent initiative and drive skills, proactive teamwork, cooperation, and interpersonal skills.
• Excellent oral and written communication skills, ability to communicate effectively with a broad base of internal/external customers.

• Possess the necessary interpersonal skills to communicate effectively and maintain a friendly, courteous, and professional demeanor at all times.

Education/Experience Requirements:

• Minimum of two to five years financial services experience, preferably in a deposit-related role.
• Knowledge of BSA and OFAC regulations and/or related requirements, including reporting and record filing requirements.
• Experience in investigation procedures.
• Associate’s degree or equivalent experience.
• Capable user of Southern Bank computer systems and technology, including word-processing, spreadsheets, Internet and internal software.