Volunteer State Bank
BSA Analyst
JOB SUMMARY
The BSA Analyst will be responsible for ensuring that a financial institution complies with anti-money laundering (AML) laws and regulations; monitor transactions, investigate suspicious activities, and report any potential money laundering or fraud to regulatory authorities.
DUTIES AND RESPONSIBILITIES
- Analysis of BSA/AML alerts within established timeframes and following alert processing guidelines.
- Recommend alerts to send to case for further evaluation of suspicious activity
- Manage BSA cases by analyzing and documenting results of activity and supporting documentation, resulting in a recommendation to file or not to file a
- Suspicious Activity Report (SAR)
- Participate in SAR completion process including SAR filing, SAR committee, SAR narratives, Quality Review, and SAR re-files.
- Utilize multiple systems including but not limited to core banking, AML monitoring software, check imaging software, document imaging software and online resources to analyze transaction activity and identify unusual patterns
- Conduct enhanced due diligence on high-risk customers and recommend changes to risk ratings when warranted
- Prepare and maintain documentation necessary to fulfill regulatory and third-party audit requirements
- Monitor Customer Due Diligence (CDD) questionnaires for completion and follow up with responsible departments for corrections as appropriate.
- Evaluate CDD alerts for unidentified high-risk customers generated by the AML monitoring system.
- Monitoring proper and correct completion of beneficial owner documentation as required for business deposit accounts and commercial loans.
- Complete verification and filing of Currency Transaction Reports (CTRs) within regulatory deadlines.
- Complete analysis of watch list alerts including possible matches to OFAC SDN lists, sanctioned countries, politically exposed persons, and internal lists
- Provide backup coverage as needed for all BSA AML related tasks.
- Participates in annual required BSA/AML training
- Serves as a resource for internal departments
- Performs other duties as assigned
QUALIFICATIONS
- BA or BS degree preferably in finance, accounting or related discipline, or equivalent work experience.
- A minimum of 3 years BSA/AML or related banking experience.
- Must have at least basic knowledge in all areas of the BSA/AML and regulatory requirements.
- Experience using BSA/AML or Fraud monitoring systems preferred.
- Must possess excellent verbal and written communication skills.
- Must be self-motivated with excellent analytical and investigative skills.
- Must be willing to attend BSA/AML training sessions both on and off bank premises.
- Must possess at least intermediate technology skills, including fluency in Word, Excel and Outlook applications.
Qualified candidates may send resumes to dfreeland@volstatebank.com.
