BSA Analyst I Job Description

The BSA Analyst is responsible for assisting in investigations and monitoring of transactions, mitigating money laundering risks to the Bank and its customers. The BSA Analyst I will learn monitoring, analysis, report formatting and assisting the Bank’s BSA Officer and analysts to ensure BSA regulatory requirements are met. The BSA Analyst I is responsible for account identification, analyzing and reporting any activity believed to be associated with unusual and suspicious account activity such as potential structuring, money laundering or 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 BSA Officer and analysts as appropriate, in a timely and accurate manner. The BSA Analyst I will monitor the daily and weekly alerts, currency transaction reports, and other duties as needed to assist in investigation and ongoing reporting. Essential Duties and Responsibilities include the following:

 

General Responsibilities

The duties listed below are intended only as illustrations of the various types of work that may be performed. The omission of specific statements of duties does not exclude them from the position if the work is similar, related or a logical assignment to this position. Core duties and responsibilities include the following. Other duties may be assigned.

•  Learn BSA/AML Legal requirements and bank policies and procedures; and demonstrate increasing levels of aptitude and mastery over assigned departmental tasks, i.e. Bank Secrecy (BSA), Customer Information Program/Know Your Customer (CIP/KYC), and/or other applicable federal regulations.

•  Assist experienced analysts with research, analysis, and investigation of assigned alerts generated by monitoring system and review, close and/or escalate a case depending on the investigation conducted on the type of alert, accordance with BSA/AML/OFAC monitoring policy.

•  Document and report findings on each alert with supporting documentation within the “notes section” of each alert.

•  Assist with the investigations for cases referred by Bank personnel for unusual activity and document investigative findings accordingly.

•  Assist with reviewing the accuracy and information provided by the branches entered on Currency Transaction Reports (CTR). Ensure the information in the monitoring system is ready for filing.

•  Assist in investigating, identifying and reporting matched suspects by reviewing monthly OFAC reports or when updates occur with the AML system.

•  Adhere to compliance and Bank policies and procedures in accordance with Universal Bank or regulatory standards.

•  Adhere to compliance and Bank policies and procedures in accordance with Universal Bank or regulatory standards.

•  Perform other duties as assigned.

 

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 

Knowledge/Education & Experience

•  High School Diploma and/or equivalency plus two plus years at the community college or university level in such fields as criminal justice, paralegal, accounting, business administration, finance, etc.

•  Two to Three years of experience in BSA/AML/OFAC and/or branch operations. procedures.

•  Demonstrates a consistent attention to detail in the review of reports, account activity and documentation to ensure accuracy of the monitoring process.

•  Strong investigative and analytical skills.

•  Be familiar or willingness to learn and understand the Bank Secrecy Act, USA Patriot Act, OFAC regulations and all related anti-money laundering laws.

•  Able to work independently and meet deadlines.

•  Ability to research and make appropriate decisions regarding complex cases.

•  Strong interpersonal skills, well organized and working knowledge of Word and Excel.

•  Ability to manage multiple tasks.

•  Excellent oral and written communication skills; ability to define problems, collect data, establish facts, and draw conclusions.

•  Basic Proficiency with Microsoft Office, including Outlook, Word, Excel and PowerPoint.

•  Experience with Verafin or other AML monitoring tools desired

•  Experience with FIS desired

•  Must be bondable.