AML/BSA Analyst I

Job Type Full-time Description

  

SUMMARY 

The BSA Analyst I assists in the implementation and administration of fundamental department functions which are critical to the Bank’s compliance with the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program regulations. Assists the BSA Officer in the establishment of controls to mitigate the risks of emerging compliance issues. Assists in ensuring department activities run smoothly and efficiently. 

ESSENTIAL DUTIES AND RESPONSIBILITIES 

• Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures.
• Maintain current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
• Perform daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; determine if transactions are suspicious in nature, significant changes in balances, cash structuring in deposits, wire and ACH transfers, monetary instrument sales, new account openings, etc.
• Assist in the completion of Enhanced Due Diligence reviews and/or investigations if needed.
• Assist in the administration of the automated BSA/AML system, research and resolve alerts and conducts investigations within the system.
• Assist in the preparation and submission of all Currency Transaction Reports (CTRs) within required timeframes. 
• Assist in the monitoring of account activity for suspicious patterns and activity, conduct suspicious activity report investigations, high risk customer/account reviews, and recommend when to file Suspicious Activity Reports (SARs). 
• Assist in the completion of SAR reports, including a clearly written narrative detailing the specific nature of the reported activity and the ramifications to the Bank, as applicable.
• Assist in the processing and tracking of all aspects of electronically filed SARs and CTRs.
• Review and file all Monetary Instrument Logs, as received from retail branches.
• Review daily Nautilus ACH reports for high-risk activities (South Shore Bank).
• Review and sign-off on OFAC exceptions and false positive reports.
• Perform additional duties as requested, needed, or assigned.
• Completes all internal Bank training as assigned and required.
• Adheres to the Bank’s privacy and data security policies including but not limited to safeguarding of sensitive information and complying with relevant regulations to protect non-public information.
• Exhibits the ability and desire to embrace and enhance the Bank culture.

Consider this description to be the foundation of your job, not its boundaries.  Expect to participate in internal and external training sessions and activities not described here which enhance the quality of service to the client. 

Requirements

  

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.

EDUCATION and/or EXPERIENCE 

· Minimum of three (3) years of general banking and compliance experience. Experience should include banking rules and regulations and an understanding of bank policies and procedures.

· Excellent computer and software skills, including MS Word, Excel, PowerPoint, Access.

· Experience with Verafin preferred.

LANGUAGE SKILLS 

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.

MATHEMATICAL SKILLS 

Ability to calculate figures. Ability to apply concepts of basic algebra and geometry.

REASONING ABILITY 

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

PHYSICAL DEMANDS 

The physical demands described here 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 perf