Risk Analyst

Description

Position Summary

  The Risk Analyst is responsible for promoting risk management and regulatory compliance by identifying, quantifying, reviewing, evaluating, and measuring risk to ensure that all risk categories are identified and managed in accordance with regulatory compliance and audit requirements, approved risk tolerance, risk appetite and strategic plans. 

Essential Functions

Risk 

• Works with the Bank’s Director of Risk and various branches and departments in identifying, defining, and remediating various risk-related issues in attaining established compliance goals. 
• Understands the Bank’s business and operations to properly conduct effective ERM through evaluation, improvement, and monitoring, including the development, implementation and execution of regulatory requirements and strategic projects in all areas pertaining to risk identification and assessment, risk tolerance, risk aggregation and risk governance and organization.
• Assist with compliance exams on the following areas (includes but not limited to); retail, deposit operations, lending operations, and retail branch.
• Inspects Branches to ensure that policies and operational procedures are consistently applied across the organization. Performs independent assessments and audits of all branches to ensure operational excellence.

BSA/AML Program 

• Prepare the Annual BSA/AML/OFAC Risk  Assessment for the Board of Directors.
• Conduct monitoring for suspicious activity, conduct investigations, and document findings.
• Work with business line management to implement BSA/AML/OFAC program improvements, including implementing      responses to Internal Audit and regulatory recommendations.
• Maintain awareness of laws, rules, regulations and issues relating to BSA/AML/OFAC as appropriate.
• Lead the high-risk monitoring process, including maintaining written procedures for high-risk customer reviews and monitoring, including SAR and 314(a) and 314(b) reporting.
• Identify and review BSA related operational risks associated with new activities or products and ensure that the Bank’s infrastructure and internal controls are adequate to manage related risks prior to commencing new activities or launching new      products. 
• Oversees the Yellowhammer BSA review process to ensure effectiveness in identifying activities that fall within the BSA oversight.

Fraud

• Analyze fraudulent account behavior/transactions to determine root cause of losses and perform analysis on customer account to identify potential fraudulent operations, understanding the various systems used by Union Bank and the corresponding information available to ensure the appropriate evidence is obtained and documented.
• Provide detailed, effective input management, for analysis and reporting on information from assigned systems (Yellow Hammer, Online Banking, Jack Henry Fraud Center for debit cards, RSA MFA, Jack Henry Reports that monitor kiting activity      – and new systems as they evolve) for the purpose of analyzing and detecting unusual or fraudulent activity on customer accounts.
• Provide excellent customer service in line with desired customer experience, locating / contacting customers/branches and advising them of incidents and providing them with information/instruction as necessary, following standardized script(s) as needed.
• Support effective utilization of fraud detection systems, tools and reports to prevent, detect and manage fraud losses by participating in ongoing training to develop and maintain knowledge, skills and capability.
• Review output of fraud detection systems and other sources and use information to determine steps needed to be taken by customers as well as liaising with other departments within the Bank as needed.
• Provide recommendations to their manager for changes which reduce fraud exposure and losses while maintaining cost effectiveness and a high level of customer service.

Physical Bank Security 

• Review and validate Bank wide security procedures and policies. Recommend and review enhancements with the appropriate Executives Managers.
• Work closely with designated lines of business to ensure regular alarm testing is being performed and malfunctions are identified and repaired. Work with Bank Managers to correct security/safety findings.
• Ensure monthly alarm system testing is conducted to verify all alarm points (hold-up buttons, door contacts, motion detectors, etc.) are operable.
• Conduct annual on-site visits to each Union Bank office location and conduct training and inspection (i.e. Fraud prevention, bank robbery awareness, security/safety inspection and self-assessment