BSA Analyst
Corporate Title: Exempt – BSA Analyst
EEOC Class: Professional
Department: BSA/Compliance Department
Reports to: Compliance Officer
Position Summary:
Assist the Bank Secrecy Act (“BSA”) Officer in maintaining Carver’s BSA, Anti-Money Laundering (“AML”) and Office of Foreign Assets Control (“OFAC”) compliance program.
Essential Duties and Responsibilities:
The primary role of the BSA Analyst is to review customer transactions for unusual or suspicious activity. To successfully perform this function, the BSA Analyst must:
- Be familiar with “Red Flags” for identifying unusual/suspicious activity. Ongoing training is provided to ensure updated knowledge of money laundering and terrorist financing typologies.
- Utilize internal and external resources to research the customer and account activity under review to arrive at a preliminary determination on the nature of the activity. Internal resources include Carver’s own databases, such as our check imaging system; external resources include internet searches such as Google.
- Draft written narratives to document transaction reviews, and exercise discretion and independent judgment to provide recommendations to file or not file Suspicious Activity Reports (“SARs”). If a SAR is recommended, the BSA Analyst will draft a SAR.
BSA Analysts may also be called upon or delegated to perform any of the following functions:
- Provide support to the branch system by answering any BSA or OFAC questions they may have, or refer them to the appropriate contact person.
- Research potential OFAC “hits” occurring at the branches or in the wire room and provide resolution.
- Present or assist in presenting BSA and OFAC training materials to other Bank employees, such as New Hire Orientation.
- Review and/or prepare Currency Transaction Reports (“CTRs”).
- Utilize BSA Department software to conduct 314(a) searches in compliance with the Information Sharing requirements of the USA PATRIOT Act.
- Periodically use WatchDog software to scan Carver’s customer database against the OFAC list.
- Prepare specialized reports using Microsoft Excel and our BSA Department Software, known as Banker’s Toolbox Anti-Money Laundering software (“BAM”).
- Conduct periodic reviews of high risk accounts and customers.
- Assist in periodic updates to Carver’s BSA/AML/OFAC Policy and procedures to reflect changes in departmental procedures and ensure compliance with new regulations.
Requirements:
- Good Writing and Organizational Skills
- Good verbal communication Skills
- Interest, Motivation and Commitment
- Computer Skills
- Use BSA Department software (BAM);
- Use Microsoft Word and Excel;
- Research checks and deposited items using IS Research internal database;
- Conduct internet research;
- Take and save screenshots;
- Navigate a hard drive.
- Working knowledge of the principles and procedures related to AML, BSA, OFAC regulations and the USA Patriot Act requirements. ACAMS certification a plus.
- Ability to read, analyze, and interpret regulatory requirements.
- Must be self motivated and able to function with minimal supervision, and flexible enough to work within a team environment or independently as required.
- Ability to define problems, collect data, establish facts, and independently draw valid conclusions.
- Detail oriented with strong technical and analytical skills, and able to multi-task and handle deadlines.