BSA / AML Analyst
Less than 5 years experience • Accounting, Finance & Insurance
Regional retail and mid-market commercial bank seeks a smart, motivated, AML and BSA Compliance professional to join their team.
The BSA/AML Analyst position focuses on identifying suspicious activity through automated and manual processes, risk rating of business customers, review of 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.
- 3 years general bankingexperience
- 3-5 years of BSA compliance experience, including transaction analysis for suspicious activity
- Experience with AML monitoring systems
- Windows and Excel proficiency
Previous branch experience
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 activity is reasonable or potentially suspicious. Document the research performed in a clear and concise manner and elevate activity that may warrant a SAR filing.
- Review and approve High Risk Customer EDD reviews (Non-SAR, Non-PEP).
- Develop SAR narrative, independently, when it is determined that an initial or continuing SAR will be filed.
- Review 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 for loans, OFAC verifications for loans 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 with preparing for initiatives including- OCC BSA exam, OCC MLR, BSA risk assessment, BSA audit, or BSA system validation, etc.
- 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 complete within required time line.
- Regular and predictable attendance.
- Perform other duties as required.