BSA/AML Analyst

GENERAL PURPOSE SUMMARY Fulfills regulatory requirements relating to suspicious activity reporting in support of the bank's Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Program by monitoring account activity reports and system alerts for potentially suspicious activity; and researches account activity, documents findings, and determines whether a Suspicious Activity Report (SAR) should be filed in compliance with BSA and supporting regulations to include OFAC, USA Patriot Act, and Customer Identification requirements by performing the following essential duties and responsibilities: ESSENTIAL DUTIES AND RESPONSIBILITIES Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Monitors accounts to satisfy investigating, evaluating, and risk assessment procedures set forth by the bank; monitors medium- and high-risk accounts for potential suspicious activity by reviewing the previous/existing SAR filings, investigating account activity, reviewing an entire customer relationship, and comparing it to appropriate trends. Performs Customer Due Diligence (CDD), including review of anticipated vs actual activity, while maintaining an understanding to evaluate industry specific transaction expectations. Reviews transaction data to identify unusual or suspicious activity and/or significant changes in account activity. Documents investigation details in the bank's automated suspicious activity platform; determines whether a SAR should be filed and recommends further coding of account to establish appropriate monitoring and reporting. Maintains well organized electronic and/or physical records of written reports and completed reviews in centralized location, to include any and all supporting documents used in the determination of whether or not to file a SAR. Investigates potential suspicious activity alerts identified by the bank's automated suspicious activity platform and reports; and determines whether the activity is suspicious by identifying and documenting the bank's relationship with the account holder and gathering additional information from various sources within the bank as appropriate. Prepares SARs to be filed with Financial Crimes Enforcement Network (FINCEN), and reviews all information to ensure accuracy and completeness before inputting the data into the bank’s suspicious activity monitoring platform and submitting to supervisor for review. Documents findings of all investigations not resulting in a SAR filing. Within the required regulatory imposed timeframes, reviews customer information and transactional data input by branch staff for currency transaction reports (CTR’s). Identifies errors within the CTR processing workflow and makes recommendations on remedial training for branches when repetitive errors occur. Monitors government and industry resources, and participates in internal and external training to keep current on regulatory changes and financial crimes trends. Performs other work-related duties as assigned by supervisor. COMPLIANCE EXPECTATIONS Stay updated on relevant laws and regulations and complete all compliance training on time. Be knowledgeable of and comply with bank policies, procedures, laws, and regulations that apply to you and your job. Maintain customer confidence and protect the bank’s operations by identifying and protecting confidential information.