A retail bank is looking to bolster its BSA/OFAC team. The bank is looking for a Senior EDD Analysts. The Senior EDD Analyst will be responsible for assisting the BSA Officer in order to ensure adherence to State & Federal regulatory compliance regarding the Bank Secrecy Act, USA Patriot Act, OFAC and related laws. Work the BSA Officer to administer the Bank’s BSA/AML Program and related procedures in accordance with the Bank’s policies.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Monitor, reconcile, and prepare for electronic filing, Currency Transaction Reports for all branches.
Review and validate risk ratings for new accounts using the AML system risk rating module.
Establish enhanced due diligence (EDD) and monitoring efforts for customers identified as high risk.
Perform independent analysis for cases involving suspicious activity including, but not limited to, structuring, unusual transactions, check fraud, and kiting for presentation to the BSA Officer.
As scheduled, perform analysis of core application and AML system reports that identify potential suspicious activity, including case management.
Manage cases of potentially suspicious activity from the AML monitoring system, including analysis of transaction activity and balances for review by the BSA Officer.
Perform ongoing monitoring, as required, of all high-risk accounts in accordance with the established monitoring schedule.
Perform monthly review of new accounts, using system reports, to ensure that new accounts have been appropriately risk rated.
Document suspicious activity reviews for presentment to the Executive Committee.
Perform review of CIF and other lists for compliance with FinCEN 314(a) requests and OFAC updates.
Stay current with changes in BSA and related laws & regulations.
Assist with other projects as assigned.
The Senior EDD Analyst will need strong KYC and EDD experience. The best candidates will have at least 3 years of experience. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed herein are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.