BSA and Compliance Analyst

BSA and Compliance Analyst


Provides analytical support on the administration to oversee the Bank Secrecy Act (BSA) including the Customer Information Program (CIP), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) and Deposit Compliance laws and regulations as they apply to the financial institution.


Essential Duties 

  • Support BSA Officer with the monitors programs that ensure the financial institution’s compliance with laws, regulations and rules governing BSA, AML, CIP and Deposit Compliance.
  • Analyze 100% of all new account opening documentation for proper CIP compliance.
  • Maintain a CIP database for all account openings and new loans.
  • Track all CIP document deficiencies for new accounts and loans via an aging report.
  • Escalate all CIP deficiencies by mailing the Aging Report Senior Management, Office Managers and Assistant Office Managers.
  • Notify BSA Officer on a timely manner of CIP deficiencies older than 30 days.
  • Download, analyze and respond to FinCEN 314(a) reports.
  • Analyze the on ad-hoc OFAC report provided by Operation and validate all false-positive hits.
  • Analyze the Large Cash Items Report for Cash Transactions Report (CTR) reportable transactions.
  • Ensure the branches complete and forward to the BSA Officer the pertinent CTR for each of the aggregated cash transactions greater than $10,000.
  • Maintain a log on all CTRs filed with the IRS.
  • Responsible for providing the BSA Officer with required pertinent information, on a monthly basis, to support the BSA report to the Board of Directors.
  • Review monetary instruments and wire transfer logs, on a regular basis, and report anomalies to BSA Officer.
  • Conduct a QC on all Suspicious Activity Reports (SARs) prepared by the BSA Officer prior to mailing to the IRS Processing Center.
  • Conduct a high level analysis of the Large Cash Items Report for suspicious transactions and forward with notation to BSA Officer for final detail analysis.
  • Analyze on a monthly basis, with BSA Officer, the AML Cash Structuring Report.
  • Support BSA Officer with the High Risk Clients’ analysis and monitoring.
  • Review the Changes of Address report for anomalies (P.O. Boxes, Foreign Addresses).
  • Monitor and provide guidance to Operations on the Regulation CC transactions for adherence to compliance.
  • Support the BSA Officer on BSA classroom training for all banking staff.
  • Support Compliance & Risk Management Officer with the levies, garnishments and subpoenas process.
  • Other duties as assigned.


Education or Experience Preferred

  • Bachelor’s degree or high school diploma/equivalent and at least five years of banking experience.
  • Working knowledge of BSA and Deposit Compliance.
  • Working knowledge of all financial institution policies and procedures.
  • Ability to read, analyze and interpret government regulations, trade journals and legal documents.
  • Must be able to respond to common inquiries from regulatory agencies, courts and outside consultants.
  • Ability to communicate with Senior Management, members of the Board of Directors and Audit Committee.
  • Ability to conduct presentations and training to groups of more than 10 people.

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