AML/BSA Analyst

Job Overview

This position is primarily responsible for supporting Risk Management’s mission of ensuring the organization complies with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable anti-money laundering laws. This individual will support the AML/BSA and compliance functions with focus on providing direction and decisions regarding banking regulations and procedural guidelines to business units on transactional, documentation, and government reporting issues.

This position will also be tasked with providing assistance with the department’s Internal Monitoring, audit, disaster recovery, and compliance functions. The successful candidate will have a working knowledge of regulations affecting financial institutions, anti-money laundering & Bank Secrecy Act programs, account titling and CIP requirements, account opening procedures, and other directives surrounding sound banking practices.

Responsibilities

• Ensure compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws. Confirms adequate policies and procedures are in effect to combat money laundering and implement best practice standards for “Know Your Customer” initiatives. Communicates findings in formal reports to management and/or business lines.
• Maintain the process required for effectively monitoring cash, ACH, Bill Pay, Cashier’s Checks, and Wire Transfer transactions as required by Federal regulations. Document the AML/BSA monitoring and reporting procedures for Risk Management. Monitor all currency transactions daily, identify those transactions that require a CTR and ensure CTR is filed within required timeframes, and maintain relevant Watch Lists, Currency Transaction, Suspicious Activity, and High-Risk Customer reports.
• Responsible for detecting elements of potential AML/BSA violations, investigating noted anomalies utilizing internal/external resources, and rendering decisions regarding the need to report matter to proper authorities (FinCEN, IRS, etc.).
• Provide branch staff with guidance in determining when transactions require completion of any/all government documents (CTR, SAR, etc.). Ensure all regulatory documents are filed in a timely and accurate manner. Provide proactive and reactive advice regarding day-to-day AML/BSA issues.
• Individual may be expected to respond to potential inquiries from examiners and auditors relative to AML/BSA inquiries.
• Monitor core processing system and other applications (CUDL, FICS, etc.) to identify high risk accounts opened by the credit union. Analyze account documentation on record to ensure information obtained complies with internal policies as well as federal regulations.
• Provide support to the organization’s Legal Affairs & Litigation Management function to include, but not be limited to, processing orders from courts of competent jurisdiction relative to writs, levies, and judgements, as well as assembling information and responding to Interrogatories and Discovery Requests.
• Assist with audits of retail offices and other audit/compliance activity initiated by Risk Management.
• Support other Risk Management oriented activities as required.

Qualifications and Education Requirements

• 2 years AML/BSA, Compliance, Audit, and/or Financial Industry experience.
• Knowledge of credit union regulations
• Bachelor’s Degree: Industry designations/certifications preferred.
• Microsoft Office
• Additional Skills/Notes
• Excellent communication, organizational and problem-solving skills required.
• Ability to maintain the highest levels of confidentiality and work independently as well as part of a tea