Job Title: BSA Analyst
Reports to: Chief Risk & BSA Officer
The BSA Analyst assists in the implementation, monitoring and overall administration of all aspects of the Bank Secrecy Act compliance program under the guidance of the Chief Risk & BSA Officer. The BSA Analyst is responsible for thorough investigating and documenting various degrees of Anti-Money Laundering (AML)/fraud alerts as assigned and, when necessary, preparing cases for Suspicious Activity Reporting (SAR). Specifically, the role of the BSA Analyst is to perform various quality controls reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standard and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis. Identify customer-related trends, patterns, typologies, and issues associated with money laundering, terrorist financing, fraud, and other suspicious transactions. Ensure that all transactions/customers deemed suspicious are referred to the BSA Officer in a timely manner and in accordance with Bank policies and procedures. Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.
The position of BSA Analyst is required to be fully knowledgeable and skilled in all areas of the BSA department.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures.
- Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
- Assists in the monitoring of account activity for suspicious patterns and activity, conducts suspicious activity report investigations, high risk customer/account reviews, and recommends when to file Suspicious Activity Reports (SARs).
- Assist in the filing of the SARs when necessary while maintaining a high-level of confidentiality of the SAR reporting process.
- Maintains current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
- Assists in the development, coordination, and facilitation of training programs to educate bank personnel about BSA related compliance requirements and procedures.
- Assists in the development and implementation of bank forms, notices and procedures and monitoring processes for compliance with the Bank Secrecy Act, OFAC and related regulations.
- Assists in the compliance with 314(a) and 314(b) (PATRIOT Act) responsibilities.
- Assists with New Account Business Risk Profiles.
- Assists in the preparation and submission of all Currency Transaction Reports (CTRs) within required timeframes.
- Performs customer and transaction analytics to identify trends and possible suspicious activity.
- Assists in the preparation of the BSA Risk Assessment and the periodic updates.
- Assists in the administration of the automated BSA/AML/Fraud system, research and resolved alerts and conducts investigations within the system.
- Assist the BSA Officer and participates/prepares for regulatory BSA Examinations and Internal/external Audits. Assists in audit preparation and resolution du
- Attend and complete all required classroom, computer-based, web-based and seminar training, as assigned.
- Trending analysis: Conduct manual analysis, as instructed by the BSAO, on high-risk products such as cash, international ACH, wires, early loan payoffs and accelerated loan payments, cash secured loans, et
- Act as BSA Department liaison with other departments and account officers to obtain documentation and/or information necessary to complete the account analys
- Interacts with vendor to resolve system issues.
- Participates in SAR Committee duties as assigne
- Assists with special projects, assignments, and tasks as assigned by the BSAO.
- Must be experienced in the areas of: SAR, CTR,14(a) & 3.14(b) filings.
- Must be experienced using dynamic BSA/AML monitoring systems, preferably, Yellow Hammer Fraud Detective and BSA pieces.
- Knowledge of BSA/AML/OFAC/fraud regulations.
- Strong knowledge of bank administration, lending, operations, and products/services.
- Must possess strong analytical and problem-solving skills with ability to gather, organize, and interpret data.
- Ability to formulate independent preliminary conclusions.
- Proficient in the use of personal computers and related software packages such as Microsoft Office.
- Strong attention to detail with an investigative approach.
- Ability to exercise good judgement when assessing risk.
- Ability to maintain confidentiality and adhere to bank policy and procedures.
- Demonstrates strong communication skills to include written, verbal, and interpersonal skills when communicating with others.
- Ability to use sound judgment and handles difficult situations with tact, diplomacy, and discretion.
- Ability to manage time and adhere to strict deadlines.
- Demonstrates leadership skills and competencies.
- Type 30 wpm accurately.
- Experience with AML/fraud software, such as Jack Henry, required.
- Bachelor’s degree, preferably in finance, accounting, or related discipline (MBA preferred) or more years of general banking experience (retail, operations, compliance or BSA setting) with a minimum 1 year in BSA/fraud investigations.
- Professional certification (ACAMS, ACFE, CRCM) preferred.
Sonora Bank provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status. In addition to federal law requirements, Sonora Bank complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.