Under minimal supervision, the Senior BSA Compliance Analyst is responsible for account identification, analyzing and reporting any transactions believed to be associated with unusual and suspicious account activity such as potential fraud, structuring, money laundering, or/and terrorist financing to ensure the Bank is in compliance with the Bank Secrecy Act and USA Patriot Act. This includes identification of unusual transactions and escalating incidents to the BSA Officer as appropriate, in a timely and accurate manner. The Senior BSA Compliance Analyst performs various quality controls reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standard and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis.
Ensures compliance within all Bank policies and procedures, as well as all applicable state and federal banking regulations.
Essential Duties and Responsibilities:
- Conduct in-depth due diligence reviews and prepare comprehensive reports on High and Moderate risk customers to assess and mitigate BSA/AML risk
- Gather documents and analyze the risks associated with complex ownership structure, evaluating variables such as source of funds, anticipated activity volumes, and purpose of business relationship
- Validate and document customer’s Risk designation or mitigating factors in order to establish periodic EDD review schedule
- Independently performs reviews of various reports and transaction data and analyses complex activity to determine if transactions are suspicious in nature
- Perform quality control reviews of various AML/BSA/Fraud functions, including but not limited to case investigations, Suspicious Activity Reports (SARs), BSA/Fraud alerts, customer risk reviews, Currency Transactions Reporting (CTR), to determine if the review and research were conducted in accordance with quality standards and time frames set forth within established procedures, policies, and regulatory requirements
- Evaluates and adjusts scoring of AML software to provide the most value to the BSA/Fraud program in accordance with established risk tolerance
- Assist in transaction testing, data validation, and ongoing customization of the AML software
- Proactively monitor, measure, analyze, execute, track and report on data quality issues
- Perform root cause analysis of identified data quality issues, tracing data upstream and providing solutions
- Suspicious Activity Response – Investigate escalated alerts of potential suspicious activity produced or referred by other areas of the bank and determine appropriate course of action. Exercise solid judgment on examining information, and document suspicious activity, behaviors and/or patterns
- Watch List Response – Ensure Watch List information is properly maintained and updated, review and respond to concerns about OFAC, SDN or other Watch List alerts and take mandated action as necessary
- Disseminate information, answer questions, and be a subject matter expert on BSA/AML/OFAC/Fraud related issues
- Fraud Program Response – This role may directly support the Bank’s Fraud Program, including day to day responsibilities, alert/case investigations and Financial Elder Abuse reporting
- Contributes to the development and implementation of Fraud Risk processes, tools, policies, standards, and procedures in alignment with the BSA/AML Program
- Keep abreast of Fraud, BSA and AML related regulations for changing compliance and recommend business process improvements
- Mentor and work with other less experienced staff in developing additional assets within the team
- Review and analyze new and pending laws and regulations. Develop or revise appropriate policies, procedures, and disclosure agreements to ensure compliance
- Assist with regulatory examinations and audits, including gathering requested information, developing, and coordinating responses to such reviews as necessary
- Assists in ad-hoc special projects as necessary
- Attend various seminars, webinars, and other outside compliance training
- Minimum of 10 hours CRA volunteer hours per year. Volunteer hours are typically scheduled within business hours. This is compensable time and mileage is reimbursed
- Other duties as assigned
Supervisory Responsibilities: This job has no supervisory responsibilities.
Qualifications:
- Advanced understanding of banking and fraud threats posed by money laundering activities
- Combination of training and experience that would provide the knowledge and abilities listed above including specific knowledge of State and Federal laws and regulations pertaining to financial institutions (i.e., BSA, AML, OFAC, USA Patriot Act)
- Minimum of 5 years BSA and Fraud experience. Experience in depository financial institution processes and procedures or similar experience is preferred
- Solid understanding of banking and fraud threats posed by Money Laundering activities
- Have a strategic and entrepreneurial mindset with an ability to identify emerging compliance trends and risks, ensuring we stay ahead of the curve
- Excellent verbal and written communication skills, with the ability to break down complex requirements into easy to understand and practical systems
- Proficiency with computer programs including fraud identification and AML software
- Organize workflow efficiently, self-direct personal training needs and utilize available resources
- Perform financial analysis, draw logical conclusions, and make recommendations when needed
- Sound analytical, evaluation, communication, and interpersonal skills
- Ability to distinguish and manage confidential information, materials, and conversations
- Establish and maintain effective working relationships with employees from other departments
- Ability to work scheduled full-time hours and maintain regular attendance
- Ability to multi-task in a fast-paced environment
BSA and Compliance Responsibilities – in addition to those indicated above:
- Comply with all requirements, policies, and procedures of the Bank Secrecy Act (BSA) and complete all mandatory BSA training as needed for this position
- Report to the BSA Officer any money laundering, fraud, and other suspicious activity
- Comply with all requirements, policies and procedures outlined in the Bank’s BSA/CIP/OFAC Policy
- Complete all required compliance and regulatory training, not limited to BSA, as needed for this position
Physical/Mental Demands & Work Environment:
The incumbent in the course of performing this position frequently spends time writing, typing, speaking, listening, operating basic business equipment, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, walking, standing, reading documents or instruments, detailed work, problem solving, client contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, multiple concurrent tasks, and constant interruptions. The incumbent for this position will occasionally lift up to 15 pounds, pull, squat, kneel and reach. The incumbent is in a non-confined office-type setting in which they are free to move about at will. The work environment is typically quiet to a moderate noise level.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Management reserves the right to change this position description at any time.
See qualifications above.
Poppy Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
For San Francisco Postings, review Fair Chance Ordinance.
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