BSA Specialist (Onsite)

Responsibilities

• Investigate alerts from AML/BSA software and either clear alerts with proper supporting documentation or escalate for Suspicious Activity Reports (SARs) filing.
• Prepare and execute all CTRs for filing.
• Review potential OFAC alerts, from all platforms, and determine appropriate disposition.
• Review, and analyze all accounts to identify possible suspicious activity and escalate cases as necessary.
• Monitor accounts and prepare detailed investigations and narratives for Suspicious Activity Reports (SARs) filing.
• Aid in the updating and maintenance of AML/BSA Compliance Procedures ensuring compliance with all federal and state regulations.
• Support the AML/BSA Officer with the development, implementation, and administration of all aspects of the BSA Program.
• Review high-risk and/or complex business structures for new account approvals, and openings, to assess BSA/AML risk.
• Aid the AML/BSA Officer with internal and external audits, SAR filing, and risk reviews.
• Ensure effective transaction monitoring and account oversight is implemented to identify suspicious transactions for reporting.
• Aid the AML/BSA Officer with timely and accurate completion of Law Enforcement requests.
• Conduct and manage incoming and outgoing 314(b) information sharing requests.
• Review and investigate OFAC and 314(a) Watch List alerts and properly document alert disposition.
• Create and manage all cases within Verafin to ensure accurate record keeping and proper retention is maintained.
• Review system generated alerts and/or business unit referrals for potential suspicious activity, including performing transactional research and analysis; and thoroughly document associated research and disposition.
• Review and analyze transaction data through daily reports and system alerts for unusual activity; investigate and research as necessary.
• Draft written summaries of investigative findings and make recommendations to the AML/BSA Officer.
• Participate in training related to Bank Secrecy Act/Anti-Money Laundering requirements of the institution as it relates to the specific position held.
• Effectively detect patterns and conditions through observing processes.
• Review all related relationships and detail all areas in a comprehensive narrative for enhanced due diligence on high-risk accounts, including MSB related relationships.

Qualifications

• Bachelor’s degree; or 3 plus years of related experience and/or training; or the equivalent combination of education and experience within the financial industry sector.
• One to two years’ experience in a banking position either in a BSA position, or another position where BSA responsibilities are heavily trained – including advanced tellers, operations, etc.
• CAMS or another relevant certification, or the ability to obtain certification within six months of hire.