Description:
Job Summary Overview
The position is responsible for AML processing, which include suspicious activity investigations and reporting, sanctions, and politically exposed person screening, OFAC, CDD/EDD screening, CTR and SAR filings. Business account opening review process, and other AML related processes.
The position will work closing with the Senior BSA Analyst and BSA Manager to ensure critical functions are fulfilled timely and accurately. Stays current on BSA system enhancements and recommends changes in settings and procedures to maximize effectiveness. Reviews system generated alerts for potential matches and conduct research as required and document detailed results. Reviews PEP and Sanction alerts for potential matches and conduct research as required. Completes follow-up reviews on activity that was previously reported as suspicious. Identifies trends and report to management. All mandatory training completed to deadline and understood within given timescales. Speak with staff and management in a friendly tone and train as needed. Ensures consistent visibility for program and project teams by monitoring and reporting business objectives, program/project achievements, and key indicators. Removes obstacles and impediments to ensure business and operational objectives are met. Identifies and applies best practices and needed process improvements. Ensures compliance with company policies and procedures. Monitors project execution to deliver incremental business value.
Essential Job Functions
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Reviews onboarding documentation for all new business accounts and risk rate accounts using AML system risk rating module.
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Performs the Due Diligence and system data entry for all new business accounts.
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Monitors and validates risk rating for all new personal accounts using the AML system risk rating module.
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New customers identified as high risk, conduct enhanced due diligence and monitoring efforts.
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Identifies high risk accounts from information received from other departments, branches, Suspicious Activity Reports (SAR’s) and Currency Transaction Reports (CTR’s).
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Performs independent analysis for cases involving suspicious activity including, but not limited to, structuring, check fraud, and kiting for presentation to the BSA Manager, BSA Officer, and VP of Risk.
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Schedules perform analysis of core application and AML system reports that identity potential suspicious activity including case management.
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Manages cases of potentially suspicious activity from the AML monitoring system, including analysis of transaction activity and balances for review by BSA Manager, BSA Officer, and VP of Risk.
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Monitors ongoing, as required, of all high risk and medium risk accounts in accordance with the established monitoring schedule.
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Manages BSA/AML system settings make recommendations for changes and report any changes or outlying results to Account Protection Manager.
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Performs testing of BSA/AML systems in conjunction with system or Core upgrades.
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Maintains communications with Account Manager(s) for BSA/AML systems.
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Performs review of the Credit Unions Customers Identification Program and other lists for compliance with FinCEN 314a requests or OFAC filtering results.
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Performs periodic OFAC updates/screenings and FinCEN 314a requests and investigation potential matches to make a disposition.
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Stays current with changes in BSA regulations and develop related procedures or revisions to the BSA program and with the BSA officer.
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Assists during examinations and audits conducted by the regulatory authorities and external and internal auditors.
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Participates in compliance and regulatory initiatives and other special projects, including execution of project plans for new regulations, regulatory guidance, and compliance processes.
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Cross-trains on other BSA/AML related functions.
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Reviews and approves wire transfer requests.
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Reaches out to consumer and business members, on a business need basis.
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AML processes, which include suspicious activity investigations and reporting, sanctions, and politically exposed person screening, OFAC, CDD/EDD screening.
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Works closing with management to ensure critical functions are fulfilled timely and accurately.
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Reviews system generated alerts for potential matches and conduct research as required and document detailed results.
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Reviews PEP and Sanction alerts for potential matches and conduct research as required.
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Completes follow-up reviews on activity that was previously reported as suspicious.
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Identifies tends and report to management.
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All mandatory training completed to deadline and understood within given timescales.
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The ability to speak with staff and management in a friendly tone and train as needed.
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Performs other job-related duties as assigned.
Requirements:
Position Required Qualifications
Minimum Education and Experience
High School diploma or GED and two (2) years’ experience in BSA/AML compliance management in a financial institution.
Knowledge, Skills, and Abilities
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Knowledge of computers and software applications in Windows, Excel, Access, and Word. Ability to read, write and speak English.
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Ability to read, analyze and interpret technical procedures, financial reports, legal documents, and government regulations.
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Ability to write business correspondence and business policies and procedures of a technical nature.
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Ability to communicate verbally both in person and on the telephone. Ability to speak with staff and management in person and on the telephone.
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Ability to define problems, collect data, establish facts, and draw valid conclusions.
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Experience in senior level decision making at a financial institution.
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Ability to speak effectively and present information to groups and to management.
Licenses, Training, and Certifications Required
None.
Preferred Qualifications
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Knowledge of BSA/AML and CDD/EDD requirements for financial intuitions.
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Detailed knowledge of and experience in BSA, AML, CIP, OFAC and USA PATRIOT Act regulations as they relate to a retail and commercial banking environment.
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Knowledge and experience in BSA/AML system including system settings and parameters.
Hybrid Work Environment and Physical Demands
While performing the duties of this job, the employee is regularly required to sit; use hands to finger keys accurately when using computers, keyboards, and phones. While performing the duties of this job, the employee is frequently required to stand; walk; reach with hands and arms. While performing the duties of this job, the employee is occasionally required to climb or balance; stoop, kneel, crouch or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision; color vision; depth perception; and ability to adjust focus. The noise level in the work environment is usually moderate. Must be able to travel independently to department and branch locations.
NOTE: The job description is intended to be generic in nature. It is not an exhaustive list of all duties and responsibilities. Requirements listed in the above qualifications and physical requirements are representative of the knowledge, skill, abilities, physical demands, or work environment required or encountered that must be met by an employee to successfully perform each duty and each function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.
Employees who work from home must have business operational internet to complete work tasks and communicate via video call or chat messaging systems in a dedicated workspace.
