Description:
The BSA/AML Analyst supports the administration and execution of the Bank’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. This position conducts suspicious activity monitoring and investigations, performs regulatory reporting functions, supports customer due diligence processes, and assists in identifying and mitigating financial crime risk.
The BSA/AML Analyst operates under the direction of the Senior Compliance Officer/BSA Officer and plays a key role in supporting the bank’s efforts to maintain compliance with applicable federal laws, regulations, and regulatory guidance related to financial crimes compliance.
Essential Duties and Responsibilities
1. BSA/AML Program Administration
- Assist in the administration and maintenance of the Bank’s BSA/AML, OFAC, and related compliance programs, including supporting policies, procedures, and internal controls.
- Support periodic reviews and updates of BSA/AML and OFAC policies, procedures, compliance reviews, and the Bank’s BSA/AML/OFAC risk assessment.
- Monitor OFAC matters, regulatory developments, guidance, and emerging financial crime trends impacting the Bank.
2. Suspicious Activity Monitoring and Investigations
- Review and investigate suspicious activity alerts and conduct detailed account and transaction analysis to identify unusual or potentially illicit activity, including money laundering, fraud, structuring, or activity lacking a clear business purpose.
- Maintain thorough, well-documented case files and escalate high-risk or complex matters to the BSA Officer for review and determination, as appropriate.
3. SAR and CTR Administration
- Prepare, review, and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) in accordance with regulatory requirements and internal procedures, including drafting clear, complete, regulator-ready narratives.
- Maintain accurate records and supporting documentation for SAR and CTR filings, ensuring compliance with reporting and documentation standards.
4. Customer Due Diligence and High-Risk Monitoring
- Perform Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews, including ongoing monitoring of customer accounts, transactional activity, and high-risk relationships.
- Identify, monitor, and escalate customer relationships or activities that present elevated BSA/AML risk.
5. Regulatory Reporting, Examinations, and Audit Support
- Assist with responses to subpoenas, law enforcement requests, and 314(a) requests, and support preparation for regulatory examinations and internal audits by gathering documentation and responding to inquiries.
- Support follow-up activities related to examination and audit findings, including tracking corrective actions and remediation efforts, and assist in preparing BSA/AML-related management reports, metrics, and Board materials.
6. Training and Advisory Support
- Serve as a resource for internal BSA/AML-related questions, support training, and awareness initiatives, and assist with new hire orientation and onboarding related to compliance and regulatory requirements.
- Maintain strict confidentiality of customer and investigative information while completing additional BSA/AML-related duties and escalating matters to the BSA Officer, as appropriate.
Requirements:
Qualifications
- 1-5 years of BSA/AML and/or fraud investigation experience within a banking environment required.
- Working knowledge of BSA/AML, OFAC, USA PATRIOT Act, and related regulatory requirements.
- Experience with transaction monitoring systems, case management tools, and preparation of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs).
- Strong analytical, investigative, and critical thinking skills, with the ability to manage multiple priorities and meet regulatory deadlines.
- Strong written communication and documentation skills, including investigative narrative writing.
- High attention to detail, confidentiality, and proficiency in Microsoft Office and Verafin.
- Professional certification such as Certified AML and Fraud Professional preferred but not required.
Reporting Structure
This position reports directly to the Senior Compliance Officer/BSA Officer.
Equal Employment Opportunity Statement
New Horizon Bank is an Equal Opportunity Employer and does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or veteran status.
