- Professional
- Escritório em Wallingford
POSITION DESCRIPTION
FUNCTION: The BSA Analyst II will perform Bank Secrecy Act, Anti-Money Laundering and Combatting Financing of Terrorism (BSA/AML/CTF) related monitoring of the Bank’s clients and their transactions in order to ensure adherence to State & Federal regulatory compliance regarding the Bank Secrecy Act, USA Patriot Act, OFAC and related laws. This position works closely with the BSA Officer to meet all regulatory requirements as well as the Bank’s BSA objectives by bringing a systematic, disciplined approach to the BSA process. The work involves monitoring, investigating, and analyzing Bank clients and their transactions via report review, enhanced due diligence review and data mining using the Bank’s BSA software programs and through communication with Bank staff. The use of tact, discretion and judgement is required to maintain the confidentiality of sensitive information. The BSA Analyst II also provides support with the Bank’s Fraud monitoring and prevention programs.
GENERAL DESCRIPTION OF DUTIES:
- Automated Alert Analysis – responsible for reviewing, analyzing, and determining the appropriate disposition of alerts generated by the Bank’s AML software; identify possible suspicious activity for further investigation and raise to the appropriate level of oversight; document alerts with concise, yet thorough, summaries outlining relevant details to support a final outcome.
- Recommend to the BSA Officer any enhancements to the AML software settings to ensure appropriate monitoring and detection of suspicious activity is performed.
- Activity Analysis – analyze transaction history to identify unusual activity; analyze potentially suspicious activity of clients and non-clients; analyze system generated reports for suspicious activity and for patterns to detect trends that present illegal activity or fraud.
- Client and Account Monitoring – assist with identifying high and moderate risk clients in accordance with the Bank’s Client Due Diligence Program. Perform ongoing monitoring of clients and account activity of higher risk clients in accordance with the Bank’s monitoring schedule; document findings and determine the need for further investigation; monitor various reports.
- Regulatory Reports –
- Ensures accurate completion of Currency Transaction Reports (CTRs) to be filed by the BSA Officer utilizing the AML software.
- Assists BSA Officer with filing CTRs with FinCEN.
- Summarizes suspicious activity to be discussed with BSA team to determine if Suspicious Activity Reports (SARs) need to be filed.
- Compiles necessary information to assemble SARs and 90 Day SAR Continuation Reviews.
- Assists BSA Officer with filing SAR and SAR Continuations with FinCEN.
- BSA Risk Assessment – compiles data for the annual review and update of the Bank’s BSA Risk Assessment collaboratively with the BSA Officer.
- Bankwide BSA Support – assists the BSA Officer with Bank wide support to all staff as needed. Assists with dissemination of new regulatory or procedural guidance. Works collaboratively with all staff in the identification of suspicious activity.
- Bankwide BSA/AML/Fraud Training Program – assists the BSA Officer in conducting New Hire BSA training as well as providing other Bank wide BSA and Fraud-related training as needed.
- Client Information Program (CIP), Privacy, and ID Theft – assist with oversight of the Bank’s CIP, Privacy, and Identity Theft Prevention programs.
- Audits and Exams – assist in the gathering of information requested for internal audits and regulatory examinations.
- ERM Functions –
- Serve as backup for BSA Officer and ERM Representative and assist with projects as needed.
- Assist Compliance Officer with conducting Compliance Reviews and other regulatory functions.
- Fraud Monitoring - provide assistance with conducting the Bank’s Fraud Monitoring Program as needed.
- Training – Maintain proficient knowledge of applicable compliance statutes, regulations, and BSA-related trends by attending appropriate training and/or workshops presented by an accredited organization as required.
- Perform all other duties as assigned.
FUNCTION SUPERVISED: None
LIST OF POSITIONS SUPERVISED: None
DIGITAL LITERACY:
The ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills.
- Information, data, and content
- Teaching, learning and self-development.
- Communication, collaboration, and participation
- Digital identity, safety, and security
- Technical proficiency with all bank products
- Awareness and interest in new technology
- Creation, innovation, and research
EXPERIENCE: One year to three years of similar or related experience. Experience and knowledge with research and analytics preferred. Possess the ability to efficiently navigate within various software applications. High level of organizational skills and strong interpersonal skills required. Ability to multi-task and prioritize daily activities and projects.
EDUCATION: An associates or two-year degree, or equivalent.
MANAGERIAL RESPONSIBILITY: Has no supervisory/managerial responsibility.
INTERPERSONAL SKILLS: Courtesy, client service, and tact are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.
INDEPENDENT JUDGMENT: Diversified procedures, specialized job standards, and specific policies limit the latitude permitted for independent judgment. Decision-making requires analytical ability, judgment, and ingenuity. There is a moderate amount of discretion available in the job, often with more than one approved course of action. Decision making occurs in pre-authorized operational areas and is normally reviewed by supervisor prior to action, but more involved actions often take the form of recommendations.
MENTAL PROCESS: Problems encountered are somewhat complex, requiring analysis of data; weighing the outcomes of a decision. Problems are generally similar in nature, with previous precedent to draw upon. The job performs interpersonal, analytical, or organizational activities which the general population would be able to perform with advanced or specialty training.
ORGANIZATIONAL IMPACT: Nominal Impact: Has little or no noticeable authority to make decisions that would impact the overall organizational goals and objectives and would have budgetary responsibilities. The impact of the job would not generally affect the services or product which an individual client would receive. Does not have budgetary responsibilities and is not authorized to make decisions that would commit or jeopardize company assets.
ORGANIZATIONAL RESTRAINT: Limited supervision and inspection of work. Errors can be difficult to detect and resolve and/or the consequences of potential errors can be of significance.
*Compensation: Compensation is based on our market pay structures. However, individual salaries are determined by a variety of factors including, but not limited to business considerations, local market conditions, and internal equity, as well as candidate qualifications, such as skills, education, and experience.
Ascend Bank is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.
Applicants requiring reasonable accommodation in the application process should notify Human Resources.
Ascend Bank participates in E-Verify.
EOE/AA/M/F/D/V
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