The Enhanced Due Diligence (EDD) Analyst is primarily responsible for performing comprehensive reviews and investigations of new customer and account relationships that are determined to be of elevated risk to National Advisors, as well as for providing alert dispositions of transaction activity on a recurring basis. Under the supervision of the BSA/AML Program Manager and/or the BSA/AML officer, the EDD Analyst will be required to draft thorough narratives of research findings and conclude if businesses and consumers need additional monitoring to include case management and SAR filing. This position requires a strong understanding of BSA/AML processes and logic.
Receive assignment of new customer and account relationship cases determined to be of elevated risk to the company, as determined by the BSA/AML Program Manager.
Conduct comprehensive investigations of customers by utilizing CIP/KYC information, occupation, line of business, income methods, transaction activity and other information determined to be applicable and necessary. Make sound, risk-based conclusions and recommendations to clear activity or conduct additional monitoring.
Interact with company personnel and advisors for clarification of customer activity, as needed.
Maintain and organize case documentation, including statements, transaction images, account opening documents and internal forms.
Perform transaction analysis of individual, trust and business accounts for ACH, wire, and check activity, to identify purpose of account activity. Document in detailed summaries those findings.
Perform reviews daily, to meet applicable case review deadlines.
Meet case management and any SAR filing deadlines.
Communicate research findings and progress with the BSA/AML Program Manager.
Provide alert and case support to additional Compliance staff, as needed.
Obtain and maintain knowledge of industry regulation.
Other duties as needed by the BSA/AML Program Manager and BSA Officer.
Two or more years of experience in BSA/AML compliance, ideally having also conducted investigations during some of that period.
Two years of overall financial services, preferably financial services experience, in a client-facing role, operations, or account administration role.
Attention to detail.
Strong analytical and research skills.
Ability to analyze data patterns and trends to identify potentially suspicious customer activity.
Ability to specify and perform processing system queries.
Strong communication skills, with an emphasis in written communication.
Excellent time management skills to meet multiple deadlines.
Ability to handle confidential information in a professional manner.
Ability to adapt to evolving compliance rules, regulations, and protocols.
Flexibility to work independently and in conjunction with other team members in a professional office environment.
Demonstrated ability to multitask.
Decision-making ability in complex scenarios.
Good understanding of banking and wealth management operations and administration.
Ability to establish working relationships with client contacts, third-party provider contacts, associates, and other business units.
Two+ years in BSA/AML compliance investigations
Associates or Bachelor?s degree, preferably in a finance, accounting, paralegal, or criminal justice related field of study.
BSA/AML training or certifications.