JOB TITLE: BSA/AML Analyst
DEPARTMENT: Compliance / BSA
REPORTS TO: Director of Regulatory Compliance & Audit
FLSA STATUS: Non-Exempt
ESSENTIAL DUTIES AND RESPONSIBILITIES
The following reflects management’s definition of essential functions for this job but does not restrict the tasks that may be assigned. Management may assign or reassign duties and responsibilities to this job at any time due to reasonable accommodation or other reasons.
This individual will be responsible for performing day-to-day analysis ensuring the Bank’s compliance with the aspects of the Bank Secrecy Act, USA Patriot Act and Office of Foreign Assets Control that generally involve monitoring identifying and reporting of suspicious activity related to potential money laundering activity or terrorist financing.
Essential Job Functions
- Perform the BSA Department due diligence, including CIP, CDD, Beneficial Ownership and OFAC review for new and existing customers at new account openings, and periodically throughout the relationship as needed;
- Review onboarding documentation for compliance with the Bank’s policies and coordinate with other departments and employees to obtain any additional required documentation;
- Review Customer Due Diligence, and perform Enhanced Due Diligence as needed, to determine associated risks with new relationships;
- Review, update, and verify customer profiles over the course of the relationship, in the BSA/AML monitoring software, for accuracy and completion to maintain an appropriate risk-based program and reliable risk scoring system;
- Utilize the Bank’s data systems and reporting, perform moderately complex investigations to identify Bank Secrecy Act issues such as money laundering, terror financing, internal/external fraud schemes, structuring, and illegal money service business activity;
- Review and investigate OFAC alerts for a determination of actual OFAC match or false match, and respond to OFAC related questions from branches and various departments;
- Review and investigate the FinCen 314a posting to the Security Information Sharing System for a determination of potential matches;
- Second review of cash and currency transaction reports, (CTR), rsponsible for daily filings of CTR’s. filing;
- Backup for suspicious activity report (SAR) review and filings.
- Review international wires for compliance with BSA/AML and OFAC requirements;
- Demonstrate proficiency in investigative practices associated with an experienced investigator (conduct interviews, collect data, compile documentation and evidence, maintain accurate notes, develop initial and ongoing reports of investigations, and prepare comprehensive, accurate and timely Suspicious Activity Reports).
- Read, research, interpret and generally stay abreast of the requirements of the Bank Secrecy Act;
- Assist team members with specific BSA and OFAC related questions;
- Assist in the development, maintenance and delivery of tailored training modules on BSA/AML compliance topics;
- Assist during examinations and audits conducted by the regulatory authorities and external and internal auditors;
- Attend industry forums to enhance compliance knowledge;
- Report to work on a daily basis according to scheduled set by Manager;
- Perform all job functions in accordance with F&M Bank’s policies and procedures;
- Performs other related duties as assigned or requested.
Although this position carries no direct supervisory responsibilities, this individual serves in the capacity of a leader among his/her peers in the manner in which he/she performs his/her job duties.
QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
LANGUAGE SKILLS: Ability to read and comprehend simple and complex instructions, simple and complex correspondence, and memos. Ability to write reports, business correspondence via email. Ability to read, analyze and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers and the general public. Must be able to speak, read, write, and understand the primary language(s) used in the workplace.
MATHEMATICAL SKILLS: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions and decimals.
REASONING ABILITY: Ability to apply commonsense understanding to carry out instructions furnished in written, oral or diagram form.
CERTIFICATES, LICENSES, REGISTRATIONS: General banking experience required; Current Driver’s License; High School Diploma or Equivalent
PHYSICAL DEMANDS: The physical demands described herein 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 and use hands to hand(s) to finger, handle, or feel; reach with hand(s) and arms, talk and/or hear. The employee is occasionally required to stand, walk, reach with hands and arms, climb or balance, stoop, kneel, crouch or crawl. The employee may lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision and distance vision.
WORK ENVIRONMENT: 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.
While performing the duties of this position, the employee may be exposed to risk of electrical shock. The employee may occasionally be exposed to fumes or airborne particles and vibration. The noise level in the work environment is usually quiet to moderate.
OTHER SKILLS AND ABILITIES:
- 3-5 years general banking experience
- Working knowledge of Microsoft Office programs, i.e. Word and Excel, is required
- Ability to learn specific software applications
- Ability to obtain a working knowledge of the laws and regulations applicable to the job responsibilities
- Ability to research and analyze information to identify suspicious activity
- Must be a self-motivated and detail oriented individual able to complete tasks with a high degree of accuracy
- Ability to handle multiple tasks
- Ability to organize and prioritize work, and to meet deadlines.
- Strong teamwork and team leadership skills. Ability to work effectively within a team during larger projects to ensure all objectives have been achieved
- Strong negotiation, presentation and communication skills, whether written or oral. Ability to apply and share specialized knowledge and train others on new processes and policies.
- High tolerance for and focused approach to resolving vague issues
- Ability to perform research and analysis of regulations and form conclusions that can be precisely communicated
- Must be professional in appearance and demeanor at all times
- Committed to excellence and high standards
- Ability to understand sensitive data and to maintain confidentiality
- Must be able to report to work each day on time
- Overtime hours may be required from time to time
Disclaimer: The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Qualified candidates may send resumes to firstname.lastname@example.org.