Summary/Objective
This position is responsible for supporting the Bank’s compliance with BSA/AML regulations and by identifying, assessing, transactions and mitigating financial crimes risks for escalated customers. This includes in-depth investigations and analysis of customers, entities, and transactions to ensure compliance with BSA, AML, and OFAC regulations. This review may involve the discovery of negative news, suspicious behavior or other risk related information which will require this position to weigh all risk factors and provide a conclusion and recommendation. The analyst is responsible for ensuring timely review and submission of Suspicious Activity Reports (SARs). The role involves staying informed on regulatory changes and utilizing the Bank’s BSA/AML systems to monitor and manage risk.
The decisions and recommendations made by the Analyst shall be relied upon by the management team and may have a direct impact on the business operations and the servicing of customer accounts, which may also carry legal and regulatory compliance obligations. Often these reviews may lead to the development of metrics, trend information, and written analysis which will be used to substantiate any risk-related recommendations, which may include changes to the BSA Program.
This role also involves a level of discretion and independent judgment in the assessment and presentation of various decision options to management as well as conducting major assignments in the effective operational implementation of the Bank’s BSA Program.
Essential Functions
Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
• Conduct in-depth research on individuals and entities using public records, open-source media, internal databases and proprietary systems on a periodic and ongoing basis.
• Review AML cases generated by the Bank’s transaction monitoring system, cases created from alerts, suspicious activity referrals, subpoena, 90 day reviews, SAR filings etc. to ensure processes consistently meet regulatory requirements and internal procedures.
• Creating and maintaining an in-depth record of the investigation performed on individuals or entities.
• Investigating and escalating confirmed or suspected violations as required by procedure.
• Escalate suspicious activity and risks and to management as appropriate.
• Ensures all SARs are filed are timely and NSARs are completed by established due dates.
• Function as a support to BSA/AML Compliance Manager to assist with daily monitoring, assessment, and maintenance of AML processes and procedures.
• Liaise with Bank lines of business, including branches and other teams as needed.
Other Duties
• Support other duties and responsibilities within the BSA Operations Unit’s area of responsibility, as required by the BSA Operations Manager or BSA Officer.
• Stay informed of related regulatory matters through Federal agency updates and guidance and through industry webinars and conferences.
• Complies with all policies and procedures as applied to the Bank's BSA/AML policy.
• Perform other duties as assigned.
Skills/Abilities
• Able to communicate effectively to a broad audience, including lines of business in both written and verbal formats.
• Strong technical writing skills including the ability to prepare clear and concise investigative summary, SAR/NSAR narrative and reports.
• Excellent time management skills, including the ability to manage time effectively, to meet deadlines, and perform work on a variety of functions simultaneously.
• Sound knowledge of BSA and AML-related functions, reporting requirements, and systems in a financial institution setting.
• Experienced with Microsoft Office applications, including word-processing, spreadsheet, and presentation software.
• Experience with Jack Henry banking software systems, including Verafin, Silverlake, and Vertex preferred.
Supervisory Responsibility
This position does not have supervisory responsibilities.
Work Environment
This job operates in an office setting. The opportunity to telework is not available. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.
Physical Demands
This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping, or standing, as necessary.
Travel
Limited local travel may be required for this position.
Education and Experience
• Minimum 1 year of BSA/AML or banking experience required. 3 years of experience in banking, financial services, government, or related entity preferred (e.g., FinCEN, OFAC).
• Bachelor’s degree or equivalent preferred.
• CAMS, CFE, CAFP or CRCM certification preferred.
• Demonstrated expertise in conducting customer and transaction reviews, drafting narrative and escalating high risk customer relationships.
For Applicants located in Alexandria, Viriginia (VA): The anticipated salary range for this position is $33.00–$38.00 per hour.
For Applicants from all other locations: The salary will be based on experience, qualifications, and geographic location.
The ranges listed for Viriginia represent the good-faith compensation the Company reasonably expects to pay for the position at the time of posting. Actual compensation will be determined based on factors including, but not limited to, the candidate's skills, qualifications, experience, education, certifications, internal equity, and business needs. This position may also be eligible for additional compensation, such as bonuses or incentive pay, where applicable.
Equal Employment Opportunity/M/F/disability/protected veteran status
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.