Grand Bank - BSA/AML Compliance Analyst

About the role

The BSA/AML Compliance Analyst is responsible for assisting with the implementation and maintenance of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC), the US Patriot Act, and fraud detection and prevention programs. The role will support internal strategies, policies, and procedures to inhibit regulatory violations in these areas and ensure appropriate parameters are in place to identify suspicious and/or fraudulent activity within the Bank’s financial systems, including affiliate/third party vendors.

Responsibilities

• Monitor daily transaction reports (in both the Bank’s core and specialty software) and alerts for suspicious activity using the Bank’s BSA/AML & Fraud software.
• Aid with system administration for compliance monitoring software and support data analysis initiatives.
• Conduct comprehensive reviews of customer transactions accounts, and activities to identify potential money laundering, fraud, structuring, elder abuse, identify theft, and other financial crimes.
• Establish and maintain appropriate Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) in compliance with regulatory deadlines.
• Ensure SAR/CTR investigations, reviews, and reporting processes to promote consistent decisions, adequate investigation and research, and completion of detailed documentation.
• Administer and enhance the BSA/AML, Fraud, OFAC, and USA Patriot Act monitoring systems to ensure appropriate parameters are in place to identify suspicious and/or fraudulent activity at the Bank and the Bank’s affiliate/third party vendors.
• Review and analyze customer accounts, wire transfers, ACH activity, cash transactions, and other high-risk areas.
• Monitor and analyze ACH activity for unauthorized transactions, return rates, and fraud trends; escalate issues in accordance with NACHA thresholds and Bank policy.
• Review ACH return reason codes (e.g., R05, R07, R10) to identify potential fraud, account takeover, or unauthorized activity patterns.
• Monitor and review the deposit procedures of the Bank to: (i) develop recommendations for enhancement of compliance policies and procedures and for remediating compliance deficiencies; (ii) communicate deposit compliance violations and recommended action(s) as necessary; and (iii) help reduce customer and internal fraud.
• Perform transaction monitoring and fraud analysis across channels, including deposit, ACH, and credit card activity, to identify emerging risks and trends.
• Examine data and initiate/maintain appropriate SAR investigations, reviews and reports processes that promote consistent decisions; adequate investigation and research; and complete detailed documentation.
• Work alerts from fraud monitoring software, including decisioning and documenting if further investigation is necessary.
• Detect and respond to fraud alerts and assist in internal investigations involving financial crimes or account takeovers.
• Monitor and work credit card fraud alerts, including card-not-present (CNP), authorization anomalies, and suspected account takeover activity; document investigations and escalate as appropriate.
• Absorb chargeback and dispute research by gathering transaction data, validating fraud indicators, and supporting Reg E / Reg Z requirements.
• Support the BSA/AML & Fraud Officer in validating KYC/CIP and conducting customer due diligence and risk assessment analysis of personal and commercial customer relationships and conducting enhanced due diligence reviews for customers identified as higher risk.
• Complete 314(a) system validation.
• Communicate with all levels of staff, including the branch, back office, and Bank leadership.
• Absorb internal and external audits and regulatory exams, oversee corrective actions of related compliance deficiencies, assist with fraud and operational loss investigations, and assist with annual risk assessments.
• Absorb periodic fraud and suspicious activity reporting, including ACH return trends, credit card fraud activity, and loss analysis.
• Comply with all departmental policies and procedures (including all laws, rules, and regulations applicable to the position) while staying informed on regulatory changes and industry best practices.
• Perform other duties as assigned.

Qualifications

• Bachelor's degree (B.A) or equivalent from a four-year College.
• 5 years of experience within BSA/AML, Fraud, and OFAC compliance programs and 2 years related to credit Card Experience.
• Experience with ACH processing, NACHA rules, or credit card fraud monitoring preferred.
• Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), and BSA/AML Professional Certification preferred.
• Advanced knowledge of BSA/AML, Fraud, OFAC, USA Patriot Act, KYC/CIP, and FFIEC & FinCEN guidance.
• Detail-oriented self-starter, with advanced analytical skills, who is flexible, innovative, and adaptive.
• Strong written and verbal communication skills.
• Strong people skills with the ability to work collaboratively and with people at all levels of the organization.
• Ability to maintain confidentiality and handle sensitive information.
• Excellent project management and organizational skills, with the ability to handle multiple projects at one time.
• Proficient in MS Office applications (Excel, Word, PowerPoint), Lexis Nexis applications (AML Risk Attributes, Bridger, Business Instant ID), Fiserv applications (Financial Crime Risk Management Platform, Onboard Advisor, Verafin) or other anti-money laundering, counter-terrorist financing, KYC, and anti-fraud platforms.

Benefits

• 401(k) and Profit Sharing
• Health Insurance
• Dental Coverage Plan
• Vision Coverage Plan
• Disability Insurance
• Life Insurance
• Flexible Schedule
• Paid Time Off (PTO)
• Community Service
• PTO Match (Bank approved)
• Tuition Reimbursement

About Grand Bank for Savings, FSB

Grand Bank is exploding with growth and on the fast track to becoming a leader in providing affordable, innovative financial products to our customers throughout the U.S. Our mission is to deliver cost-effective financial tools to give our customers better ways to borrow, spend, and save. We thrive on creating solutions to help our customers live healthier financial lives and improve their relationship with money. From saving for retirement to buying their first home, whatever stage of life they are in, we are with them every step of the way. Chartered in 1968, Grand Bank has a rich history of thinking out of the box to offer unique products to meet the needs of our customers. We value our team members and all they bring to the table. If you’re enthusiastic about delivering customer-focused solutions with a digital edge to help others build solid financial health, you want to work for us. You’ll discover a career full of excitement, challenge, purpose, and opportunity at Grand Bank. We are proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse, talented, and engaged team. We offer competitive salaries, advancement opportunities, and a comprehensive benefits package. Join our team today!