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.
- 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.