BSA/AML Compliance Analyst~ Lincoln, RI/Ipswich/Yorktown Heights na Brookline Bank

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 performing and managing the daily operational functions in support of the FIU including, but not limited to, Currency Transaction Reporting (“CTR”), law enforcement requests, economic sanctions, information management, and any additional necessary duties supporting the Bank’s anti-money laundering programs and compliance with the Bank Secrecy Act (“BSA”) and economic sanctions 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

• Reviews, edits and files within regulatory mandated time frames complete and accurate CTRs;
• Identifies and recommends customer eligibility for CTR exemptions;
• Assists with the annual review of exempt customers; 
• Reviews and validates BSA/AML system records ensuring compliance with regulatory reporting and recordkeeping requirements;
• Reconciles and resolves monitoring system discrepancies ensuring data integrity;
• Updates and maintains the integrity of essential monitoring system data including but not limited to customer risk factors;
• Reviews and resolves system generated alerts relating to transactions, customers, counterparties and other activities resulting from OFAC economic sanctions regulations and Section 311 of the USAPATRIOT Act;
• Prepares and maintains notes, findings and documentation in accordance with FIU standards to sufficiently support research conclusions;
• Analyzes and researches monitoring system alerts and department referrals for customer behaviors and transactions patterns indicative of money laundering, terrorist financing and other serious financial crimes as needed;
• Prepares, as required, case summaries and reports for escalation to the Bank’s SAR Committee;
• 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 recordkeeping and reporting, and 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 manager, Deputy AML/CFT Officer and AML/CFT Officer feedback to improve productivity and quality;
• Maintains and integrates knowledge of BSA and OFAC regulations, emerging financial crimes trends in the performance of daily tasks and functions; and
• At all times, preserves the integrity of the Bank’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 sanctions role within a financial institution or similar role
• Strong practical knowledge of BSA/AML and OFAC regulations and requirements including Currency Transaction Reporting (“CTRs”) and recordkeeping
• 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.