BSA Analyst/Compliance Assistant

Overview:

The BSA Analyst is primarily responsible for performing BSA reporting and record keeping functions including the timely review of CTR and Money Laundering alerts and following up with branches for conductor information and monetary instrument log discrepancies. This role assists in ensuring customer due diligence information is appropriately gathered and entered into the system and performs list checking as defined by bank procedures.

Primary Accountabilities / Responsibilities:

1. Prepare CTR’s for qualifying cash transactions performed at branch locations. Ensure filing in a timely manner as defined the BSA regulation.
2. Ensure conductor information is provided by branch for qualifying cash transactions. Follow up when necessary.
3. Review monetary instrument logs in conjunction with CTR review. Identify potential structuring patterns and report to BSA Officer for review.
4. Analyze “potential” cash transactions and appropriately code them in the monitoring system. Provide feedback to manager for transactions processed incorrectly.
5. Review money laundering alerts and report potential concerns to BSA Officer.
6. Verify customer due diligence information into monitoring system to aid in the money laundering investigations.
7. Assist in coordinating efforts to complete preparatory work prior to BSA/AML/OFAC regulatory examinations and/or audits; assist in coordinating the preparation of reports and correspondence as needed to regulatory agencies.
8. Monitoring of account activity for suspicious patterns and activity, conduct suspicious activity report investigations, high risk customer/account reviews, and recommends the filing of Suspicious Activity Reports (SARs).
9. Investigate and manage cases involving Remote Banking Fraud including but not limited to Debit Card, ACH and Wire Activity.
10. Conduct list checking as requested – includes314a and 314b.
11. Assist with coordination and monitoring Incidence Response for breaches of customer information that may lead to fraud.
12. Assist with Red Flag record keeping by creating, updating and closing Quick Events in Insight.
13. Adhere to response times for Bank Executions, Levies, Garnishments, Summons and Subpoenas.
14. Timely processing of Bank Executions , Garnishments, Levies, Summons and Subpoenas as directed by properly executed and served warrants.
15. Investigate and assist in case management of potential fraud.
16. Support the BSA Officer in maintaining the bank’s AML procedures.
17. Participates in compliance training and continuing education to maintain proficiency with laws and regulations affecting financial institutions.
18. Maintains current knowledge of rules and regulations related to BSA, Patriot Act and OFAC.
19. Perform other duties as requested.

Position Requirements:

Ensure all BSA reporting and record keeping requirements are met. Communicate with branches to obtain the appropriate information to complete CTR’s. Assist in the review of AML alerts and reporting potential suspicious activity to the appropriate BSA Officer for further investigation. Ensure that enhanced due diligence is performed on commercial entities.

Key Result Areas

• BSA Reporting/Record Keeping
• Customer Due Diligence
• AML Alert Review
• Red Flag Record Keeping
• Garnishments and Levies
• Fraud Investigations

Compliance Overview:Compliance Function:

• Assist in coordinating efforts to complete preparatory work for Compliance regulatory examinations and/or audits; assist in coordinating the preparation of reports and correspondence as needed to regulatory agencies.
• Back up for the oversight and implementation of changes to the Banks data retention to ensure compliance with State and Federal regulations (both paper and electronic records).
• Assist with the sign off of any marketing and advertising collateral to ensure its compliance with relevant laws.

Other Qualifications:

• Knowledge of Bank policies and procedures, State and Federal regulations
• Ability to compute rate, interest, profit and loss, commission, percentages, and apply basic arithmetic and mathematics to help resolve problem solving situations
• Ability to deal with people beyond giving and receiving instructions such as in a team, supervisory, marketing, or counseling setting
• Ability to perform a variety of duties, often changing from one task to another of a different nature without loss of efficiency or composure
• Ability to maintain relationships that facilitate task accomplishments; to cooperate and resolve conflicts; to recognize needs and be sensitive to others
• Ability to exchange information with others clearly and concisely; to present ideas, facts, and technical information
• Ability to influence people in their opinions, attitudes, or judgments about ideas or things; to motivate, convince, or negotiate
• Ability to identify task requirements and monitor progress toward accomplishment
• Ability to receive guidance and supervision; follow work rules, work procedures; meet deadlines, punctuality and attendance standards, etc.
• Ability to systematically identify and define problems, evaluate alternatives, and implement cost effective solutions

Competencies Required:

• Customer Focus
• Results Oriented
• Adaptability
• Collaboration
• Communication
• Composure
• Innovation
• Self-Development

Training/Education Requirements:

High School Diploma plus additional business/banking courses. Over 1 year and up to 3 years banking experience and/or training or some comparable combination of education and experience.

Work Environment/Physical Demands/Condition Requirements:
Busy office environment, with moderate noise: computers, printers, phones, and light traffic.
Must be able to focus and not be easily distracted. Must be able to sit for at least 70% of the
workday. Some movement is required to retrieve files, etc. Must be able to see computer
screen and read documents.

Equipment Used:

General office equipment: Computer, Telephone, Mobile devices, Scanner

Information Security

Responsible for actively protecting the confidentiality of customer information and computer systems used in the bank by:

• Remaining alert to and reporting malicious or suspected malicious email.
• Participating in training opportunities to ensure continued protection of customer data.
• Provide feedback where possible to help improve the Bank’s security culture.

Responsible for maintaining confidentiality of all sensitive information.

Torrington Savings Bank is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.

Applicants requiring reasonable accommodation in the application process should notify Human Resources.

Torrington Savings Bank is a drug free workplace.

Torrington Savings Bank participates in e-Verify

EOE/AA/M/F/D/V