BSA Analyst

Job Summary

• This position monitors and investigates all potential suspicious activities as they relate to BSA/AML (Bank Secrecy Act/Anti Money Laundering) guidelines and regulations.
• Ensures accurate and timely creation and submission of all required reports related to ongoing monitoring and investigation.
• This role will include reviewing, updating and enhancing the Credit Union’s overall BSA/AML department.

Essential Job Functions

• Manages the Credit Union’s Risk Management/Anti-Money Laundering Module (Verafin), which pertains to USA Patriot Act and Bank Secrecy Act to identify potential money laundering or terrorist financing.
• Performs FinCEN 314(a) and 314(b) Patriot Act review and on-going monitoring of high-risk accounts, which includes the search of Credit Union records to identify subjects and identify subjects that may or may not be involve in money laundering or terrorist financing.
• Monitors alerts and conduct suspicious activity report investigations, high risk accounts review, and recommends when to file a Suspicious Activity Report (SARs) and Currency Transaction Report (CTRs).
• Performs various quality control reviews and monitoring in the area of Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, Office of Foreign Asset Controls (OFAC) and Customer Identification Program (CIP).
• Documents investigative steps in the case management systems, including internet searches, advanced due diligence, and maintain supporting documents for all Investigations, while ensuring all BSA required monitoring reports are complete and processed within the required timeframe.
• Leverages knowledge of the Bank Secrecy Act/Anti Money Laundering Program to investigate all potential suspicious activities.
• Maintains current knowledge of rules and regulations governing FinCEN (Financial Crimes Enforcement Networks), the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
• Maintains current knowledge of all federal and state laws and regulations, along with the Credit Union’s policies and procedures.
• Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the OFAC, following the Credit Union’s Member identification program (MIP) rules, observing all Bank policies and procedures related to BSA, OFAC, CDD (Customer Due Diligence), CIP and participation in ongoing related training.
• Reviews, prepares and reports key BSA/AML performance metrics for management review.
• Partners with management in developing, implementing, and conducting BSA/AML training to educate credit union staff on identifying and responding to potential BSA/AML violations.
• Performs other duties as assigned.

Education Requirements

• High School Diploma or equivalent required.
• Bachelors degree preferred in Criminal Justice, Criminalistics, law or related fields.
• Professional Certification Preferred: National Association of Federal Credit Union (NAFCU) BSA/AML or CAMS Certification.

Experience Requirements

• Minimum three years of BSA/AML language and rule writing experience in a financial institution.

Physical Actions

• This role, whether performed virtually or in an office setting, will include normal and customary distractions, noise, and interruptions.
• Sits or stands for extended periods of time, up to a full work shift.
• Occasionally reaches overhead and below the knees, including bending, twisting, pulling, and stooping.
• Occasionally moves, lifts, carries, and places objects and supplies weighing 0-10 pounds without assistance.
• Listens to, interprets, and differentiates auditory information (example others speaking) at normal speaking levels with or without correction.
• Visually verifies and reads information.
• Visually locates material, resources and other objects.
• Ability to continuously operate a computer for extended periods of time, up to a full work shift.
• Physical dexterity sufficient to use hands, arms, and shoulders repetitively to operate keyboard and other office equipment up to a full work shift.