BSA/AML Compliance Analyst ~ Lincoln, RI/Ipswich/Yorktown Height presso Beacon Bank & Trust

Principal Objective

 As a federally regulated financial institution, Beacon Bank & Trust (the “Bank”) plays an important role in the battle to protect the United States financial system from abuse by criminals. The Bank’s Financial Intelligence Unit (“FIU”) is committed to supporting law enforcement efforts to combat serious financial crimes including money laundering and terrorist financing. Within the FIU AML/CFT Team, the incumbent is primarily responsible for the analysis, research and investigation of monitoring system alerts and department referrals involving potentially serious financial crimes, performing due diligence analysis, research and review of new customers and existing higher risk customers, and any additional necessary duties supporting the Company’s anti-money laundering programs and compliance with the Bank Secrecy Act (“BSA”) and economic sanctions programs administered by the Office of Foreign Assets Control (“OFAC”).

***NOTE - This role can be based in Lincoln, RI, Ipswich, MA or Yorktown Heights, NY

Principal Duties and Responsibilities

• Performs triage investigations of transaction monitoring system generated alerts and referrals, including identifying root causes of alerts, sources and uses of funds, and customer behaviors and patterns indicative of money laundering, terrorist financing and other serious financial crimes;
• Prepares and maintains notes, findings and documentation in accordance with FIU standards to sufficiently support alert and department referral research conclusions;
• Prepares, as required, case summaries and reports for escalation to the Bank’s SAR Committee;
• Partners with business lines to remediate incomplete and insufficient due diligence information as an essential component for determining customer money laundering risks;
• Performs periodic enhanced due diligence customer reviews on higher money laundering risk customers;
• Updates and maintains the integrity of essential monitoring system data including but not limited to customer risk factors; 
• Performs review and research of named parties subject to Section 314(a) law enforcement requests;
• Consistently produces and maintains high quality work within mandated deadlines in accordance with FIU and regulatory standards;
• Provides support and guidance to business line partners about BSA and other applicable financial crimes matters;
• Assists with cross-functional AML/CFT and sanctions operations activities as needed;
• Collaborates with other FIU members in furtherance of the strategic objectives set forth by FIU management and applicable regulations;
• Escalates issues and situations requiring the attention of FIU AML/CFT managers, Deputy AML/CFT Officer and the AML/CFT Officer;
• Performs ancillary duties as required at the direction of FIU AML/CFT managers, Deputy AML/CFT Officer and the AML/CFT Officer;
• Adapts to and incorporates FIU AML/CFT manager, Deputy AML/CFT Officer and AML/CFT Officer feedback to improve productivity and quality;
• Maintains and integrates knowledge of emerging financial crimes trends in the performance of daily tasks and functions; and
• At all times, preserves the integrity of the Company’s anti-money laundering and economic sanctions policies, procedures, systems and controls.

Job Specifications (Knowledge, Skills and Abilities Required)

• Associates degree or equivalent experience
• Minimum 3 years’ experience in a BSA/AML or role within a financial institution or similar role
• Sound practical knowledge of BSA/AML regulations and requirements including Currency Transaction Reporting (“CTRs”), suspicious activity monitoring and reporting (“SARs”), customer due diligence (“CDD”), Know Your Customer (“KYC”) standards and emerging financial crimes trends
• Sound knowledge of Office of Foreign Assets Control (“OFAC”) economic sanctions programs and regulations
• Solid understanding of products, services and transaction processing channels within a financial institution
• Strong analytic, research and investigative skills necessary
• Excellent prioritizing, time management and multi-tasking skills a must
• Exceptional quality and integrity of work produced within tight deadlines
• Ability to function both independently and within collaborative team environments
• Solid computer skills including the use of Microsoft Office products
• Excellent written and verbal communications skills

The above statements are intended to describe the general nature and level of work being performed by people assigned to this position.  They are not intended to be an exhaustive list of all responsibilities, duties and skills required of personnel so classified.  This job description is subject to change at any time.