Description
Supervises daily activities of BSA AML/CFT Risk Analysts. Responsible for analysis of suspicious activity, including referrals from internal sources and client and transactional activity identified through BSA risk monitoring system(s) and reports. Oversees BSA AML/CFT system(s) training of BSA AML/CFT Risk analysts. Provides assistance in conducting investigations of suspicious activity and obtaining required documentation. Responsible for reporting any non-cooperative/non-compliant individuals as required. Strict adherence to BSA related regulations FinCEN guidance and internal policy and procedures governing oversight, document retention and accurate and timely regulatory reporting. Participates in all internal and external BSA audits and examinations. Responsible for the review and investigation of system and/or reports to detect potential BSA AML/CFT violations. Responsible for assigned Customer Due Diligence and Enhanced Due Diligence activities governed by BSA and AML/CFT regulations. Responsible for quality control and below-the-line review of Suspicious Activity Reports (SARs) filed by BSA/AML Risk Analysts and ensuring SARs are filed with FinCEN in accordance with filing requirements. Position requires analytical skills to examine account activity and ability to recognize suspicious or unusual patterns, as well as research skills using bank records and online sources to gain an understanding of customers, their activity and and the consistent and accurate use of specific BSA AML/CFT risk management software. Requires absolute confidentiality. Engages in first line of defense risk identification and reporting.
Essential Job Responsibilities
1. Supervises daily activities of BSA AML/CFT Risk Analysts.
2. Develops effective written procedures for department tasks including in-depth suspicious activity review and risk monitoring/due diligence.
3. Analyzes suspicious activity referrals from all business lines of the company, as well as third parties and law enforcement.
4. Assists in conducting suspicious activity investigations, using discretion in elevating concerns to appropriate levels of personnel, preparing SARs, and maintaining documentation.
5. Provides ongoing monitoring of suspicious accounts. Investigates cash (and other transactions such as checks, wires and ACH) transactions and complete SAR's. Completes and maintain case files for all activity in accordance with prescribed retention practices.
6. Reports any non-cooperative or non-compliant employees and/or third parties to appropriate management.
7. Monitors client transactions and account activity to ensure that company remains in compliance with BSA regulatory requirements.
8. Participates in all internal and external BSA audits and examinations, while insuring that no violations of law or repeat findings from previous audits or examinations occur.
9. Manages and oversees the review and necessary investigation of output from any systems, reports or processes used to detect activity/transaction/data governed by BSA AML/CFT/OFAC regulations, including release testing of front-end transaction capture systems and BSA systems and models.
10. Monitors and assesses adequacy of Customer Due Diligence and Enhanced Due Diligence activities governed by BSA AML/CFT regulations.
11. Maintains completeness and accuracy with policies and procedures related to AML/CFT and BSA regulated functions and processes.
12. Maintains and distributes accurate and timely internal reports related to BSA AML/CFT functions (output from systems, regulatory reports filed and etc.)
Bona Fide Occupational Qualifications
1. A Bachelor's degree in Business, Finance, Criminology or related field, or equivalent experience required.
2. A minimum of five (5) years previous banking experience required, preferably compliance or fraud related and involved with client transactions, and a proficient knowledge of BSA/AML.
3. Strong analytical and problem solving skills, excellent organizational and time management skills, and exemplary communication and interpersonal relations skills are required.
4. Travel and a valid driver's license required.
5. May be eligible for Telecommuting.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
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