Sr. AML Investigations Analyst - CTR

Mechanics Bank is currently searching for a SR. AML Investigations Analyst - CTR Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. This role will be working on-site at our Roseville or Irvine locations.

The Sr. AML Investigations Analyst (CTR) role focuses on monitoring and reporting large cash transactions within a financial institution, ensuring adherence to Bank Secrecy Act (BSA) regulations by accurately identifying and filing Currency Transaction Reports (CTRs) to combat money-laundering activities. Additionally, the role is responsible for identifying, reporting and performing due diligence reviews on customer accounts that are eligible for exemptions from CTR requirements under the BSA. Finally, the Sr. Analyst is responsible for ensuring compliance with recordkeeping requirements for monetary instruments. This role requires an understanding of BSA regulations pertaining to CTR monitoring and reporting, CTR exemption and Monetary Instrument Recordkeeping requirements. Furthermore, it involves monitoring transactions, identifying suspicious activities, and maintaining accurate records. The Sr. Analyst will collaborate with various departments and management to maintain compliance standards.

What you will be doing:

• Reviews and analyzes customer account activity and branch transaction reports to determine if requirements are met to warrant regulatory reporting. Document rationale when a decision is made to not report. Identifies patterns, trends and red flags. Consistently meets regulatory timeframes for filing CTRs, CTR exemptions and Monetary Instrument Recordkeeping.

• Conducts quality control reviews to identify potential missed CTRs or other regulatory findings.

• Writes comprehensive due diligence reviews that meets the requirements of the FFIEC’s guidelines on CTR exempt customers.

• Transmits CTR filings to FinCEN within regulatory timeframe.

• Requires use of multiple Bank and department systems and applications to gather customer and transactional data needed to perform duties.

• Compiles and communicates errors, findings and/or requests additional information from branch personnel and management, as required to meet regulatory requirements with the requirements of this role.

• Maintain disciplines in consistently following current processes, procedures and policies ensuring compliance with job responsibilities.

Who you are:

• High school diploma or equivalent with 2 years of banking or other financial services experience preferred.

• Ability to use multiple systems simultaneously to gather data needed to determine whether activity requires CTR reporting.

• Consistently meets regulatory timeframes for filing CTRs, CTR exemptions and Monetary Instrument Recordkeeping.

• Conducts due diligence on customers and account activity.

• Reviews and analyzes cash transaction reports that may require regulatory reporting.

• Documents rationale for including/excluding transaction(s) in a CTR filing or decision to not file a CTR.

• Identifies transactional patterns, trends and red flags.

• Accurately completes all assigned CTR batches prior to the regulatory deadline.

• Portrays strong analytical skills to identify patterns, trends, and potential red flags in transactions.

• Reviews customer accounts and analyzes transactions to determine eligibility with CTR exemption requirements. This may include analyzing customer types, transaction patterns and account activity, and reviewing customer documentation, such as business licenses, articles of incorporation, or tax returns.

• Monitors exempted accounts for any changes that may affect their eligibility. This may involve reviewing account activity, updating customer information, and reassessing exemption status as needed.

• Assists with annual review of exempt customers and completion of review form required by the Internal Revenue Service (IRS). Reviews history for accounts that CTR’s are routinely completed and complete exemption request when applicable.

• Identifies and accurately documents cash transactions that meet Monetary Instrument Recordkeeping requirements and validate that the required customer information is completed accurately and timely.

• Collaborates with other departments when errors are identified and/or information is required to meet regulatory requirements with CTR processing and filing and Monetary Instrument Recordkeeping.

• Maintain a high degree of professionalism and confidentiality.

• Obtains and maintains proficiency with s