Bsa Compliance Analyst

The BSA analyst position is responsible for ensuring compliance with the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)/Countering Terrorist Financing (CTF) and Office of Foreign Assets Control (OFAC) policies and procedures and the applicable federal regulations to protect the Bank and Strategic Partners from being used as a conduit for illegal activity. The BSA/AML program includes (but is not limited to): Customer Identification Program (CIP), Suspicious Activity Reporting (SAR), Currency Transaction Reports (CTRs), Office of Foreign Asset Control (OFAC), Customer Due Diligence (CDD), and information sharing with law enforcement and between financial institutions.
Duties and Responsibilities:
• Serve as a subject matter expert in BSA/AML/CTF and OFAC on strategic partner programs
• Assist with the alert workload and the monitoring for suspicious patterns/activity and fraud, conduct suspicious activity report investigations, as well as high risk customer/account reviews, and recommend when to file and not file Suspicious Activity Reports (SARs). May assist in the preparation and filing of SARs when necessary.
• Assist in conducting enhanced due diligence reviews which entails research, the gathering of documents, composing a well written narrative, making appropriate recommendations, and assigning appropriate risk factors
• Assist in performing 90-day SAR follow up reviews; recommending whether continuing activity SAR should be completed.
• Familiarity with the preparation and submission of Currency Transaction Reports (CTRs) and the regulatory required deadlines.
• Ensure BSA files remain current, accurate, and well-documented.
• Participate in ongoing training to maintain current knowledge of BSA/AML and OFAC regulatory requirements.
• Assist in the compliance of 314(a) and 314(b) responsibilities.
• Assist in monitoring potential OFAC matches and take appropriate action to escalate them when necessary.
• Perform BSA/AML OFAC testing of the Strategic Partners' BSA/AML OFAC programs by following a pre-established risk -based testing plan.
• Produce quality detailed work papers, prepare succinct reports, and effectively communicate findings to appropriate stakeholders.
• Assist in gathering documents in preparation for regulatory audits and exams.
• Other duties may be assigned by the BSA Officer.
Requirements
- Bachelor's degree in finance, accounting, or a related field
- Minimum of two years of experience in BSA/AML compliance within a financial institution (strategic partnership model is a strong plus)
- In-depth knowledge of BSA/AML regulations and requirements
- Strong analytical and problem-solving skills; can think critically and solve complex problems
- Excellent communication and interpersonal skills
- Ability to work independently and as part of a team
This position is located in Salt Lake City, Utah.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. If you meet the above requirements and are interested in joining our team, please submit your resume and cover letter for consideration.