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SalaryPOSITION SUMMARY
As assigned, the BSA/AML Compliance Analyst III position identifies and monitors account activity that appears unusual and participates in oversight of such activity remaining in compliance with Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) bank policies and procedures and other related laws and regulations. This position may also be assigned to provide oversight to the bank’s CIP and CDD/EDD programs by reviewing and monitoring new accounts both before and after account opening, while providing support to KYC Documentation Specialists. Additionally, this position produces a higher than average volume of work
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Analyzes/monitors accounts having activity that appears unusual, including but not limited to the following sources: AML monitoring system, Reports of Suspicious Activity (ROSA) and CTR activity.
- Performs an analysis of the accounts identified by the AML Monitoring software system. The analysis may include, but is not limited to:
- (I) research through the various in-house systems available, to retrieve appropriate files (e.g., statements, copies of deposits, checks paid, etc.);
- (II) utilizing the Internet and other public sources to gather information on business entities; and
- (III) Discussions with appropriate Bank associates to reasonably determine if the activity is commensurate with the account-type or a probable basis for such unusual activity can be established.
- Analyzes/monitors and documents customer relationships that appear to have a higher level of risk. Recommends a risk rating based on the transactional activity and overall BSA AML risk.
- Reviews branch initiated large currency transaction activity and files appropriate Currency Transaction Reports with FinCEN via the secure website.
- Recommends a course of action to management based on an analysis of the findings, i.e., whether or not an account/relationship be closed or a SAR should be filed.
- Composes Suspicious Activity Report (SAR), via the AML Monitoring software system, for management approval and distribution to FINCEN.
- Monitors accounts, which related SAR’s have been filed but the account was not closed, within 90 days of SAR filing.
- Continues to monitor the activity of accounts identified as having unusual activity or activity that follows patterns or trends on an ongoing basis.
- Executes a daily review of the system for OFAC and Watch List screening matches and clears items that are false positives or escalate true matches to the BSA/AML Compliance Officer.
- Interacts with account officers on CDD/EDD profiling deficiencies detected during the account monitoring process.
- Works with KYC Documentation Specialists to reviews new account and loan documentation both before and after account opening. Provides guidance to staff responsible for opening new accounts and provides reports to management on the results of new account reviews.
- Remains current and adheres to bank and departmental policies and procedures.
- Full knowledge and understanding of bank policies, procedures, regulatory and compliance requirements, including but not limited to BSA/AML, CDD, EDD, and others as defined by the Compliance Division and Information Security Division
- Attend and/or complete all required training as assigned
- Work on special projects as assigned
ADDITIONAL DUTIES AND RESPONSIBILITIES
- Updates internal logs or reports as needed.
- Makes decisions based on Bank standards, policies and established procedures as well as compliance with the regulatory agencies.
- Decisions are also based on risk associated with the bank’s activities, to promote a safe and sound banking environment.
- Communicate effectively with other Departments
- Perform other related duties as required to accomplish the objectives of the position
- Assists with filing, copying, faxing or scanning of any departmental reports or materials
EDUCATION AND/OR EXPERIENCE
Bachelor's degree (B.A) from qualified college or university; or five years related experience and/or training; or equivalent combination of education and experience. Masters preferred. BSA certifications preferred.
OTHER SKILLS/QUALIFICATIONS
- Ability to effectively present information and respond to questions from directors, managers, clients (both internal and external) and the general public
- Excellent verbal and written communication skills
- Ability to communicate in both English and Portuguese highly recommended, and in some departments required; Spanish useful.
- Ability to maintain ongoing confidentiality, security and safekeeping of bank and customer information
- In depth knowledge of all bank policies, procedures and compliance requirements
- Is consistently at work and on time; Ensures work responsibilities are covered when absent
- Takes responsibility for own actions; Commits to long hours of work when necessary to reach goals; ability to multitask; takes initiative; highly motivated
- Strong organizational skills with attention to detail; focused
- Displays behavioral and daily habits to accomplish Goals as assigned
- Displays original thinking and creativity; Generates suggestions for improving work, setting goals
- Treats others with respect and consideration regardless of their status or position.
- Demonstrates accuracy and thoroughness in all reports produced
- Must be accustomed to professional, business office environment in manner and dress
- Must demonstrate excellent human relations skills with customers and bank associates
- Must be willing to participate as a team member and eager to tackle new assignments
- Must be proficient in programs such as Microsoft Word, Excel,
