Job Description
Position Summary:
Under general direction, the BSA/AML Analyst is responsible for assisting the BSA Officer in monitoring the Bank's compliance with the Bank Secrecy Act (BSA), USA Patriot Act, and other consumer regulatory requirements. ensures accurate and timely creation and submission of all required reports related to ongoing monitoring and investigation.
Essential Functions
Responsible for gathering information and coordinating with other departments to obtain requested materials for BSA department audits and reviews conducted by 3rd parties.
Assists in performing testing for new projects throughout the year.
Assists the BSA Officer with FRAML software reviews, and periodic projects throughout the year. Includes, but is not limited to - updating risk lists in the software and performing data validations; ensuring EDD reviews are scheduled for new and existing higher risk ratings; performs semi-annual alert threshold and parameter testing.
Researches new FRAML software alerts, updates, and releases in the FRAML software, and makes recommendations to the BSA Officer for additional alerts and deletions of existing alerts that are not producing any value.
Ensures all customer identification is verified according to the Bank's Customer Identification Program (CIP) and
Assists in Beneficial Ownership procedures and policy compliance.
Inputs Beneficial Ownership and all Business Profile form information in the AML monitoring system.
Performs tracking of CIP, Beneficial Ownership, and Business Profile form exceptions and creates a report for the BSA Officer monthly.
Assists the BSA Officer in gathering data needed for the annual OCC and bank risk assessments.
Reviews and provides recommendations for any changes to the BSA Officer.
Keys business information in AML monitoring system.
Completes the daily CTRs with accuracy and the monthly CTR Error Tracking Report.
Completes Daily Account and Card Fraud Alerts in the AML monitoring system and escalates as needed.
Completes monthly BSA/AML Alerts in AML system.
Serves as a resource to branches/departments inquiries related to AML/BSA questions to provide best information possible in regards to AML/BSA regulation and to better serve the customers and the Bank's interest.
Accountable for the understanding of and adherence to operational controls, policies, procedures and processes to ensure compliance with bank policies and related laws and regulations
Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.
Position Requirements (Knowledge/Skills/Abilities)
Working knowledge of BSA and AML regulations and rules.
Knowledge of financial exposure relating to regulatory penalties associated with compliance violations.
Knowledge of BSA/AML best practices.
Knowledge of financial crime detection and prevention techniques
Intermediate level knowledge of MS Office (Excel, Word, PowerPoint, Outlook, Teams, OneDrive) with the ability to learn other job specific software applications.
Strong written and oral communication skills and ability to distill and convey information in a compelling manner.
Skill in adopting technological advancements and facilitating into current and future responsibilities.
Skill and experience in being comfortable making critical decisions in a time sensitive and regulatory mandated environment.
Ability to work collaboratively, communicate effectively and have positive relationships with customers (internal and external).
Ability to prioritize workload to ensure deadlines are met
Ability to anticipate, monitor, and meet the needs of customers (internal and external) and respond in an appropriate manner.
Ability to prioritize a variety of job responsibilities, meet deadlines, and adapt to rapid changes in priorities.
Displays success in, and a commitment to, addressing quality and improvement.
Possesses the drive to work towards a standard of excellence.
Education/Experience:
Bachelor's degree (B.A or B.S.) or equivalent work and educational experience.
Minimum three (3) years of experience working in a financial institution.
Experience in a BSA, AML, and Fraud knowledge role preferred.
Experience with Verafin or other AML monitoring systems preferred
Physical Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle, or feel and talk or hear and occasionally required to stand, walk, reach with hands and arms and stoop, kneel, crouch, or crawl.Specific vision requirements for the job include close vision (at 20 inches or less) and the ability to recognize colors.
Working Conditions
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The work environment is typically indoors and in an office setting. The noise level within the work environment is typically moderate.
The specific statements shown in each section of this position description are not intended to be all-inclusive.They represent typical elements and criteria necessary to successfully perform the job.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
Job Tags
For contractors, New year,